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Can I Get Debt Relief Without Filing Bankruptcy?

Whether you face credit card debt or other types of unsecured debt that you believe you cannot possibly repay in a lifetime, filing bankruptcy may represent the best alternative to gain financial control over your life. However, an experienced Queens debt relief lawyer can often help you find other alternatives — even for secured debt like home mortgages.

The recent economic crisis put countless families in a position where they could no longer afford to make their mortgage payments and stay in their homes. Others continue to make their payments, even though the value of their homes declined to the extent that the mortgage balance exceeds the value of their homes (known as underwater mortgages). Situations like these may benefit from one of the federal Making Home Affordable programs.

However, regardless of whether you need alternatives to repay secured debt, or if you believe you can fully repay unsecured debt with a little cooperation on the part of lenders, obtaining knowledgeable legal assistance can make a vital difference to your success. Experienced Queens debt relief lawyers can often negotiate on your behalf with lenders to reduce interest rates or extend payment terms, so you can handle your loan without adversely affecting your credit rating or going through a stressful bankruptcy process. All too often, lenders do not show a willingness to work directly with you, even if their support puts the money you owe back in their pockets. However, their attitude usually changes when an attorney intervenes on your behalf.

The Mark E. Cohen, Esq. has over two decades of building relationships with lenders, opening the doors for the negotiations you need to help you stay current with your bills.

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