Saratoga Springs Office

100 West Avenue
Saratoga SpringsNY12866
(518) 581-8441
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Johnstown Office

122 West Main Street
JohnstownNY12095
(518) 736-2408
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General (1)

Thursday, 02 August 2018 19:19

Debt Settlement

Written by

I routinely meet with people who have been in a so-called debt settlement plan that is making their situation worse with every passing month. The ongoing monthly payments are not within their budget, the plan is failing because they are now being sued and facing garnishment, and other debts that are not covered by the debt settlement plan are causing their own hardship. My biggest beef with all the debt settlement companies is the lack of full disclosure on the options available to their customers. How someone handles their debts is a personal issue and decision, but when someone seeks professional advice, they should be provided with an accurate picture of the options so they can make the choice that is best for themselves and their families.

Debt settlement companies never seem to be constrained either morally or ethically to fully evaluate the options. I recently met with a woman who started a debt settlement program at a time she owed over $40,000 in credit card debt, and her monthly mortgage payment exceeded one half of her entire take-home pay per month. She was using her 401(k) plan to make ends meet in her home, and causing tax problems each year because of the 401(k) withdrawals. To add insult to injury, the plan failed, and she is now being sued and is on the verge of facing garnishments. She has spent thousands of dollars with the company, ran up large income taxes, has created enormous stress on herself, and none of it is solving her problems. Had she been presented legitimately within the option to file bankruptcy, she could have saved vast sums of money, and had the problem solved in very short order. Some companies make a proposition that sounds too good to be true. Make sure that you ask them about options so that you decide the best course to take.

What's Being Said...

  • Ms. Smith completed her client satisfaction questionnaire. She was very happy with your service and her interaction with your staff. I wanted to pass this along to remind you how much we, and the people you help, appreciate you and your office. Thank you.
    - A letter from the Legal Aid Society
  • We want to give you our heartfelt thanks for the good job you did for [our daughter]. We won not just because the facts were on our side-but mostly because the Judge appreciates that you are a perfect gentleman (not a heavy hitter).
    - Joan and Jim
  • Thank you for all your help with my financial situation. I am starting to finally feel some relief. I would highly recommend you to any future clients.
    - Lynn
  • A million thanks for everything. It must feel good to know how much you are helping people!
    - Claudia
  • Thank you for all of your words and understanding during my emotional tears throughout the roller coaster ride that wasn't letting me off. It was because of your hard work and dedication to my case that has finally stopped the roller coaster and has allowed me a fresh start. Thank you all from the bottom of my heart.
    – Mike and Deb
  • I wanted to thank you for your very professional help. You made the process much less emotionally painful for both me and my husband. The bankruptcy was certainly the best option for us. We have come out the other side with a release of all the stress we were feeling. We are also getting back on our feet financially.
    - Dawn
  • I am thankful and appreciate your professionalism and kindness through all our meetings. You took a horrible situation for me and made it a manageable one. I will always remember both you and your staff for all the help you extended to me.
    - Chapter 7 client, Sharon S.
  • I want to express our sincere thanks to you for being an outstanding attorney and for representing us for the duration of our 5 year chapter 13 payment plan. We very much appreciated having you stand by us for such a long period and being there for us in our times of need. We were blessed to have the privilege of being acquainted with your law firm.
    -Chapter 13 clients Philip & Connie
  • Please accept my note to say thank you for saving my property, I appreciate everything your office has done for me.
    – Chapter 13 client, John B.

We are a debt relief agency proudly assisting persons file for bankruptcy under the Bankruptcy Code. We serve clients in Fulton County, Montgomery County, Saratoga County, Warren, Washington, Albany, Rensselaer, Essex and Hamilton Counties