Queens Bankruptcy Attorney Bruce Feinstein, Esq.

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Debt Settlement

Debt Settlement in Queens

Bankruptcy Alternatives: Debt Settlement

Debt and its effects on your home, business, job, or family can seem impossible to overcome, but there are ways to manage your debt and get your life back on track. One option is debt settlement: individuals can work with their creditors to lower the amount of unsecured debt they owe. They then pay off that new balance in full or in monthly installments. “Unsecured debt” means that nothing is attached to the loan that a creditor can reclaim as payment. Examples include:

Your home and your car are not included as unsecured debts and cannot be settled.

Debt Settlement Pros and Cons

Debt settlement can help you by wiping out part of your debt, leaving you with a manageable monthly payment plan. It often gets rid of the interest and late fees associated with your outstanding balance, and it also allows you to pay off your debt faster than other options like Chapter 7, Chapter 11, or Chapter 13 bankruptcy.

There are certain drawbacks to debt settlement, too. It will bring negatively affect your credit rating, and the amount of money waived during the settlement will show as income so you must pay taxes on it. However, you may find that the side effects of debt settlement are outweighed by its advantages. A Queens bankruptcy attorney can help you determine if your debts qualify for debt settlement, and if it is the best choice for you.

Be sure to understand the potential risks of debt settlement before committing to this course of action.

Queens Bankruptcy Lawyer

When you start to consider your bankruptcy alternatives, including debt settlement, bring in a professional bankruptcy attorney in Queens to help you make sure you are choosing the best option to get out of debt. Working with the Law Offices of Bruce Feinstein, Esq. means that you will have a team working for you and supporting you along the way. The firm will fight aggressively in your defense so you can get a truly manageable settlement from creditors. You should not have to take on the difficult task of facing off with a collection agency alone. Living with debt is hard enough, so make sure you have an experience bankruptcy attorney on your side. Whether it is filing for bankruptcy or using an alternative like debt settlement, the firm will get you on the path to relief quickly.

Contact Queens bankruptcy lawyer Bruce Feinstein, Esq. and take control of your debt – Call and ask about debt settlement today

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Call (718) 570-8034

We are a debt relief agency. We proudly help people file for bankruptcy
relief under the Bankruptcy Code.

Areas We Serve

The Law Offices of Bankruptcy Attorney Bruce Feinstein, Esq. handles cases from all over New York including: Queens, Manhattan, Brooklyn, Bronx, Nassau County and Suffolk County Long Island


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Tel. - (718) 570-8034      Fax - (718) 570-8012      E-Mail - brucefeinsteinesq |at| gmail |dot| com