For New York residents facing overwhelming debt, regardless of the source, it can at times feel like there is no viable solution to regain stable financial footing. It can be difficult to determine how they will ever pay off all of their outstanding obligations, so many turn to solutions that seek to remove some or all of their current debts.
The most common of these is filing for bankruptcy. While bankruptcy may seem like a good method to quickly remove most debts and agree to payment plans on others, it is not the best solution for every situation. Debtors must keep in mind that filing for bankruptcy leaves certain assets exposed to creditors, and these assets can be taken from the debtor for repayment purposes. Additionally, certain financial transactions that are conducted prior to filing for bankruptcy may have a negative impact on the outcome of the filing.
As a result, it is a good idea to explore all possible debt relief options, including non-bankruptcy remedies, prior to heading down this path. The attorneys at Macco & Stern work with our clients and evaluate their circumstances to help them choose the best path to debt relief for them. If bankruptcy is the best choice, we will advise our clients on what to do and what not to do prior to filing for bankruptcy. We are also experienced in achieving satisfactory debt solutions for our clients through non-bankruptcy means. These methods include negotiating modifications to existing mortgages, removing second and third mortgages, and negotiating and settling credit card and unsecured debts, often for a smaller amount than the original balance.
Our attorneys know the right questions to ask and we protect our clients throughout the debt relief process. We strive to find a lasting solution to our clients’ debt issues, rather than pursue a quick fix. The experience and integrity of the attorneys at Macco & Stern are invaluable to the debt relief of our clients. As a starting point, anyone who is looking for debt relief options can find a variety of helpful information on our firm’s website.
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