Skip to main content

Debt Settlement

As a law firm we see a lot of people who have debt issues.  One of the questions we are always ask is about other options besides bankruptcy.    In cases when a person has been suit for a debt that they owe, we offer the option to settle it (assuming they owe the debt and they are no defenses).  I can only speak for what I see in my jurisdiction which is New Jersey and a lot of the people who have these debt lawsuits are often suit by debt buyers. A debt buyer is a business that buys bad debts on pennies on the dollar and files a lawsuit against the debtor to collect on them. It is always an option to try to offer them a settlement and reduce the debt.  You can always offer a payment plan.

When making an offer consider your personal financial situation. I always tell my clients not to set themselves up for failure and offer something they can afford.  These companies are very happy to cooperate.  Collection is art. It is great to get a judgment but the collection process is tedious. The creditor is often happy to hear of an offer because they don't have to go through the collection process.  



For more information  please contact our office at 201-880-5563 or visit us at www.ruizdoolanlaw.com for a consultation.

Disclaimer: The contents of this website are of general nature and not intended to be a substitute for legal advice or the formation of a lawyer-client relationship. In order to be properly represented, please contact your local professional. In addition, the information given on this web site has been composed by a New Jersey attorney practicing exclusively in New Jersey. None of the information contained herein should be deemed to apply in other states, nor should this website be construed as an attempt by the author to practice law in any state other than New Jersey. If you have any question regarding this website please contact our office directly at (201) 880-5563.

ADVERTISEMENT: This website contains attorney advertisement within the meaning of the Rules of Professional Conduct governing the practice of lawyers in the State of New Jersey.  This website is considered an “advertisement.” Before making your choice of an attorney, you should give this matter careful thought. The selection of an attorney is an important decision. If the representations made on this website are inaccurate or misleading, you may report this to the Committee on Attorney Advertising, Hughes Justice Complex, P.O. Box 037, Trenton, NJ 08625.





Comments

Post a Comment

Popular posts from this blog

NEW JERSEY EQUITABLE DISTRIBUTION

New Jersey is an Equitable Distribution State. This means that marital assets will be divided in a manner that is considered fair but not necessarily equal for the parties. Below we have developed an outline to give a general overview on Equitable Distribution in New Jersey. Equitable Distribution in New Jersey an Outline Overview. I.         Assets subject to Equitable Distribution a.         Assets that are Acquired During the Marriage b.       Assets acquired in contemplation of marriage II.       Assets Immune by Statute a.        Premarital – except the increase in active assets value due to efforts of non-owner. b.       Inheritances c.         Gifts from third parties III.     Specific Assets: Subject to Equitable Distribution a.  ...
Post a Comment
Read more

Harassment and Domestic Violence in New Jersey

Harassment can constitute a basis for the issuance of a restraining order if the statutory elements are satisfied. See N.J.S.A. 2C:33-4. The statute defines harassment: Except as provided in subsection e., a person commits a petty disorderly persons offense if, with purpose to harass another, he: a. Makes, or causes to be made, a communication or communications anonymously or at extremely inconvenient hours, or in offensively coarse language, or any other manner likely to cause annoyance or alarm; b. Subjects another to striking, kicking, shoving, or other offensive touching, or threatens to do so; or c. Engages in any other course of alarming conduct or of repeatedly committed acts with purpose to alarm or seriously annoy such other person. [N.J.S.A. 2c:33-4 (emphasis added).] As provided by the statute, a finding of harassment requires proof of an intent or purpose to harass. State v. Hoffman , 149 N.J . 564, 576-77 (1997). An assertion by a plaintiff that he or she felt ha...
Post a Comment
Read more

Divorce Mediation in New Jersey: In looking for a Divorce Mediator.

Divorce Mediation in New Jersey By: Marina Ginzburg, Esq. I. What should you expect from a Divorce Mediator in New Jersey? 1) Impartiality . People that are seeking the help of a divorce mediator need to know that the mediator does not take sides. We listen to both parties positions, their expectations and their needs and make recommendations in accordance to the facts presented. 2) Fair Dealing :  I am mentioning fair dealing because acrimonious process of divorce can have a painful and traumatic emotional reaction that often time one party gives up just to make the matter go away. This knee jerk reaction causes that party to put themselves in such as disadvantageous position that they may no be able to go back. By taking out the stress and the emotion of going to court the couple can reach a mutually acceptable agreement.   I mention the word acceptable because nobody is going to get 100% of what they want that is the reality.  The fact that the couple ca...
Post a Comment
Read more