Legal Question in Credit and Debt Law in New York

Re: Can you recommend some reliable firms for debt settlement?

Be your own company and save the fees. Contact your creditors keeping a list of names, phone numbers, etc. Tell them the same story. You are trying to avoid filing for bankruptcy (which means they get NOTHING). You want to work something out..reduced amount, no additional intersest, monthly payments, etc. You can figure out what you can pay...take your monthly income, subtract your fixed expenses (rent, utility bills, etc.) and come up with any extra amount you can spare. Say it is $100 month and you have 5 creditors...offer them $20 a month each. If they say no (they can say no to a debt settlement firm just as easy) there is nothing you can do...just don't deal with the uncooperative firms...and pay off those that do deal with you. Remember, debt reduction companies charge you money...so if it's tight, don;t waste it.

Good luck

Re: Can you recommend some reliable firms for debt settlement?

I cannot tell you who is reliable ... but i write this to advise you that in any collections work that I do for others, they never deal with these companies, even after you give them power of attorney. That does not mean that they are not effective, but just that there is no requirement for any collections group to have to deal with them.

Good Luck.