Creditor Workouts

Reduce Your Debt Without Bankruptcy

Harassing phone calls, wage garnishments, lawsuits and other creditor actions can take a serious toll on you. When you are already struggling to decide which bills you can pay each month, dealing with creditors can be overwhelming.

Bankruptcy helps many people out of debt each year, but it is not right for everyone. Sometimes bankruptcy is not the best option. For instance, when debtor(s) have a significant amount of debt owed only to a few creditors and have significant assets, or for other reasons that make filing for bankruptcy not the best option. Some debtor(s) may simply be ineligible to file for Chapter 7 or Chapter 13 bankruptcy protection because they received a Chapter 7 or Chapter 13 discharge within the last 4 or 8 years. Mr. Alster meets personally with debtor(s), and takes whatever time is necessary to discuss what reasonable alternatives may exist without filing for Chapter 7 or Chapter 13 Bankruptcy protection, such as negotiating creditor workouts.

Mr. Alster has many years of experience with many forms of debt relief in New York and New Jersey. If bankruptcy is not the best option, Mr. Alster has had tremendous success in negotiating favorable settlements when retained to handle one or more creditor workouts with individual creditors for a small fraction of the total debt. Common factors likely to determine just how successful a settlement Mr. Alster can reach include, but are not limited to the identity of a specific creditor, where the debt stands in the collection process, the debtor(s) assets and current financial situation.

How It Works

During your free initial consultation, Mr. Alster will walk you through all of your options. Some of the questions that will need to be answered are - Do you have many financial obligations, or mainly just a few big debts? Do you own significant assets? Of course your monthly household income including, in particular, whether or not there is any disposable income must be determined. Once Mr. Alster has a complete picture of your financial situation, he can help you prioritize and diligently pursue creditor workouts with one or more of debtor(s) major creditors whether they be credit cards, leases and mortgages, and/or existing business contracts to list a few.

With more than 2 decades of debt negotiation experience, Mr. Alster will work with your creditors to reduce your debt, avoid garnishments and protect you from foreclosure. There is always some risk in attempting a creditor workout. Your creditors do not have to work with us, but over the years when retained to do a creditor workout, Mr. Alster has been successful in these kinds of negotiations well over 90% of the time.

Begin the Debt Relief Process

You can rest assured that the Law Offices of Marc G. Alster will never push you towards a debt relief solution that you are not comfortable with. Contact Mr. Alster today to discuss your entire financial situation and discuss all of your debt relief options.