Legal Question in Credit and Debt Law in New York

I defaulted on my CC bills and student loans and ready to pay

I defaulted on my CC bills and student loan for about 5 years. So far my student loan recently garnished my tax refund.

I am ready to start paying a small amount each month to all of these agencies.

I have lost some of my old bills.

What is the best way to go about working out a deal with them?

Thanks

in advanve for any responses

Brad


Asked on 7/02/01, 6:08 pm

1 Answer from Attorneys
Garry Hanlon

Re: I defaulted on my CC bills and student loans and ready to pay

There is no best way. There are three ways

A. You may contact each directly yourself

and attempt to work out a payment plan. This

rarely works.

B. You may work with either a credit counselor/

agency or attorney and contact and attempt to work

out a payment plan. This has a better chance of

success but there may still be creditors who do

not cooperate

C. File a Chapter 13 reorganization in Bankruptcy

The Creditors cannot ignore this.

Read more
Answered on 7/03/01, 8:59 pm


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