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 debtors have a significant amount of debt owed only to a few creditors and have significant assets, including the ability to pay off in full or over time a significantly reduced amount to their creditors, filing for bankruptcy is not the best option (or for many other reasons as well). Some debtors 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 8 or 4 years, respectively. Mr. Alster meets personally with debtors/prospective clients, and go over every reasonable alternatives that may exist and may be preferable to 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; settlements are often able to be agreed upon for a small fraction of the total debt. Common factors likely to determine just how successful settlement negotiations will turn out include, but are not limited to, where the debt stands in the collection process; the type of and extent of the debtor’s assets; whether the debtor's assets could or could not be protected should the debtor file for bankruptcy protection; the debtors current financial situation (income and expenses).
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 other financial obligations, or just a few big debts? Do you own significant assets that could or could not be fully protected in a potential Chapter 7 or 13 bankruptcy case? Of course, how you would pay for any prospective settlement with your creditors? Would you be able to pay for any prospective settlement in a lump sum or would you need to make payments over time? Your monthly projected household income and expenses, including whether or not there is any net disposable income should 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 your creditors, whether the underlying debt is for unpaid credit card balances, lease and/or mortgage deficiencies, personal guarantees and/or existing business contracts/obligations, to list a few.
With approximately 30 years of debt negotiation experience, Mr. Alster will in all likelihood be able to make a satisfactory arrangement with your creditors to reduce your debt, avoid wage garnishments, and your property from being levied upon pursuant to a writ of execution… There is always some risk in attempting a creditor workout because your creditors do not have to work with us, but over the years 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.
From his office in Hackensack, New Jersey, Attorney Alster's services extend throughout the state of New Jersey, as well as New York. Some areas he serves in New Jersey are Passaic County, Bergen County, Hudson County, Essex County, and more; in New York, he serves Rockland County, Queens, and the Bronx.