mail from negotiation department

Just a blanket letter telling me to respond within 10 days at 888-381-0949 regarding the adjustments of my credit accounts. A Chapter 7 case is especially helpful when the client cannot pay their present bills and faces the prospect of creditor harassment, collection actions and bad credit.The Chapter 7 case starts when legal documents, called a bankruptcy petition, schedules and statement of financial affairs, are filed with the bankruptcy court; these documents which are intended to disclose all of the clients financial affairs at the time of the filing, contain information about all of the clients assets, liabilities, income and expenses at the time the case is filed. I got a letter November 9, 2020 Once we determine the proper party to negotiate the debt, we write a letter to the creditor advising them of our clients hardships and why a negotiated solution would be in everyones best interest. Then we systematically write and call all the cards in pursuit of negotiated settlements. Where the creditor shows no interest in negotiating for a reasonable settlement, we may pause our efforts with that creditor and concentrate on creditors who are more ready to engage in productive negotiations. I was close to call them but to pretty to be real. 2) No SPECIFIC DEBT, card number, amount outstanding or settlement amount listed, We combine the better aspects of Debt Consolidation and Debt Reduction services, without their problems. 5. I have received settlements before on other accounts, usually they are from lawyers. Glad I google this and read these reviews. What are Foreclosure Non-retention Options?

Debt Reduction Services are also staffed by a large clerical staff. These are issues that creditors are not used to litigating and would generally prefer to settle over focusing on such issues. They claim that they do not get your name from mortgages, auto loans or medical bills. Creditors collecting on credit cards and other unsecured debt do not usually expect there to be litigation defense since most debtors acquiesce to their debts assuming that they can not be challenged. The income issue needs to be carefully analyzed prior to filing a Chapter 7 case by comparing the clients household income, relative to their family size, and their necessary allowed expenses, in determining whether the client should be able to file for Chapter 7 relief. It is marketed as a way to reduce the actual principal of debt and what is implied is that it can be a total solution to the clients debt. I just received this in the mail as well. Letter listed 12 bank & credit card companies that sender claimed his company had purchased uncollected debts from. Glad I googled this. The federal exemption scheme, which is different, is more generous with better protection for personal property in that it gives a wildcard exemption of approximately $13,400. If a clients ability to settle is weak or non-existent than bankruptcy is preferable. Sometimes creditors have internal policies driving their negotiated positions and sometimes the assigned negotiator for them determines the amount they may accept. Negotiations are considered when there is too much income to file a Chapter 7 Bankruptcy case. In New York State we are currently able to select from either the exemption scheme offered under New York State law or the exemption scheme offered by federal law. A percentage plan not only spreads out debt without interest over 60 months, but also reduces the monthly payment, based on the amount of excess equity in assets and/or excess income above the median or budget tests which prevented Chapter 7. Several Offers Negotiated settlements, once they get started, may entail several rounds of offers and counteroffers. b. Satisfactions Especially where there is a judgment, a satisfaction of judgment document needs to be prepared when the client has fully satisfied the settlement agreement. above the median income level for their household size in New York State.

But other debts may be objected to where there was bad faith spending and/or a potential objection based on misrepresentation or fraud.

He also said the owner lives in Spain and I would have to. Debt that May be Objected to in a Bankruptcy or is Not Dischargeable Certain debts (student loans and some taxes) are inherently not dischargeable and need to be negotiated. Finalizing the Debt Negotiation with a Settlement Agreement and Other Final Documents . Recieved this letter smelled scam right away. Usually within a year most clients come to the realization that the Debt Reduction services are not working for them in solving their entire debt situation.

for all contents of this website. b. What is Chapter 7 Long Island Means Testing? mikulak robert amb ambassador faculty bio expert The letter appears to be a threatening collections letter on one hand, saying I need to reply within 10 days then a "potentialOFFER" for credit card debt help, but the small print says you have to call to opt out and you have to call to talk to a rep to see if you qualify. Assignment Must Be Completed at Commencement of Smithtown Foreclosure, mortgage modifications, negotiations & settlements, Retention Options for Distressed Real Estate, Non-Retention Options for Distressed Real Estate, Business Debt Negotiations and Settlements, Third-Party Short Sales and Voluntary Sales, Credit Card Reductions Debt Reduction Lawyer for Credit Cards, Consent to Judgment of Foreclosure and Sale Agreements, Landlord-Tenant Negotiations and Settlements, Retention Options in General for Distressed Real Estate, Bankruptcy Reorganization Plans (in chapters 13 and 11) as a Retention Option, Friendly Sales and/or Short Sales as a Retention Option, The Need for Debt Negotiations and Settlements, Threat or Alternative of Bankruptcy and/or Litigation to Obtain Debt Settlements, When Negotiations Would be Preferable to Bankruptcy, When Bankruptcy is Preferable to Negotiations, When Negotiations Would be Preferable to Litigation, How Our Office Can Help You Negotiate Debt Settlements, The Differences Between Our Law Office Negotiating Your Debt and Debt Consolidation or Debt Reduction Companies, How Our Law Office Can Help You With Debt Relief, https://www.justice.gov/ust/eo/bapcpa/20200401/bci_data/median_income_table.htm, Student Loan Negotiations and Settlements. per person owning and actually living in the home. They use the names of American Express, Discover, Capital One and others. When is a Mortgage Loan Considered Predatory in NY Foreclosure Cases? Upon a resolution, our firm will enter into a written stipulation of settlement with the creditor and require that other documents be prepared that show that the matter has been settled. It is definitely a scam! sarah hostage agreed negotiation speaking midnight finally release before he so he was saying that they could cut my Creditors Balances in half on this program terms from 12-36 months. How Do I Rebuild Credit After Bankruptcy? Because of their staffing and business model these large companies engage in easier, across the board approaches to debt settlement which do not seek to strategize, optimize and customize each negotiation and settlement. Since 1993 we have successfully represented thousands of clients residing in Long Island, Nassau County & Suffolk County finding relief for their unsecured debt. The goal is to sell the creditor on the settlement offer as their best chance to recover part of their debt. Such answer is one out of several documents that are usually filed as part of a litigation defense. If a client settles a very large debt they may be taxed a large amount if the cancelation of debt is large. Creditor negotiations can be involved, and our experience and the leverage of other legal options, are all helpful. 1. Because clients often come to us with several or numerous debts other personal debts, that require negotiation, we prepare separate files for each creditor that list pertinent information for that creditor, including their pertinent payment history, negotiation history, contact and loan information. A formal settlement agreement is drafted and agreed to and signed by both parties. Therefore it is important before a client embarks on efforts to obtain a negotiated settlement it needs to ascertain that it has the financial resources to adhere to such a settlement. Even where the client does not qualify for Chapter 7, because their income is too high or their assets have too much unprotected equity, the debt under a Chapter 13 plan could be spread out over sixty (60) months, where no interest is paid on most debts and the debt is divided into monthly installments to be paid over 60 months. But if the debt is undisputed, and there is not much to litigate and the bankruptcy route is not possible or cannot be pursued, negotiation becomes the main option. berklee farnsworth The numbers listed on mine were the following: 888-381-0949 and 888-381-0956. The problems with this method are that the reduction of debt and payments is not usually sufficient for most clients in financial hardship and that often because of delays or misallocations in payment by either the client, the debt consolidation company or through misunderstandings, some cards fall off the plan resulting in at best a partial solution for only part of the clients debt. 300 Cadman Plaza West, One Pierrepont Plaza, 12th Floor, Brooklyn, Referring Clients Challenged with Debt Issues to Our Law Office, Chapter 7 Long Island Means Testing Strategies Chapter 7 Lawyer, While Student Loans are Generally Non-Dischargeable There are some Options in Long Island Bankruptcy Cases, Bankruptcy Long Island / Homestead Exemption During Divorce, Cramming Down Second Mortgages in Chapter 13, Various Positions by Long Island Bankruptcy Judges, Subchapter V of Chapter 11 of the Bankruptcy Code, Bankruptcy Appeals Bankruptcy Appeal Lawyer. I received the same letter. Other documents may include a motion to dismiss, if applicable, and a response to a motion for summary judgment. throsby karen warwick ac tel What are Credit Card Negotiations and Settlements? Included a failure to respond warning. Therefore, because our law firm regularly engages in litigation defense, the litigation threat is credible and may help with obtaining a negotiated resolution to credit card and/or other unsecured debt. During the Chapter 7 case the client will need to attend a creditors meeting where the client is interviewed by a Chapter 7 trustee whose role is to determine whether there are potential assets with equity that may be sold to satisfy the claims of creditors. Thanks everyone for the warning. There are many instances where our clients have either too much income to qualify to file a Chapter 7 bankruptcy case or they may have too much equity in assets to make a bankruptcy case a good choice to sufficiently alleviate their debt situation. Failure to respond and making your minimum payments will likely result in interest accruing on your unsecured credit balances at an unreasonable rate (in addition, penalties may accrue in the event of unpaid obligations). Because the average household income on Long Island is higher than in many other parts of New York State, it is important to carefully average the clients household gross household income for the 6 months prior to the filing of the bankruptcy petition. They seek to build up lump sums by having clients pay them for several months at a time before they approach one of the clients creditors to strike a lump sum that dispose of that debt at a discount. Undisputed Debt, Not Given to Litigation Defense If the debt is disputed or was obtained in a procedurally defective manner litigation is potentially a good option as long as the client is realistic about its risks, costs and potential limitations. So I called them to see what this letter was all about since the heading was Negotiation Department.

I know the tricks that these people are trying to play. You have two 888 numbers that is not listed to any company and a spanish number, and notice number. Supposed to be affiliated with Dell Computer company according to the information about the company. We start with a credit report, that shows the clients debt and payment history. The threat of a Chapter 7 bankruptcy case will make a negotiated solution appear to a creditor to be advantageous since Chapter 7 will eliminate most or all of a clients debt, usually without any payment. 5. Please call us at(631) 271-3737,or e-mail us atweiss@ny-bankruptcy.comfor a free consultation with an attorney, at our Long Island law office to discuss debt negotiation options in greater detail. Contact Phone 800 763 9138 Se Habla Espanol 888 381 0946, I recd letter from Negotiations Department contact 1-888-385-8671 wanting to settle. As long as the client abides by the agreement they are protected by the settlement. Our approach to negotiations and settlements, entails: 1) customized and optimized settlements for each individual debt and creditor pursued by high level negotiators seeking smart solutions; 2) approaching the creditors at the same time with lump sum, installment or hybrid proposed settlements that eliminate interest and seek a significant reduction of principal; 3) using alternative services, bankruptcy and litigation as threats to leverage a better deal and as real alternatives where the desired settlements are not forthcoming; and 4) coordinating with our clients to make sure that they are on board with the amounts of our offers and the term of the settlements.

Received this letter, thought it was strange but I have called them.

Details of the letter are much the same, with the exception being the following contact numbers: Litigation is Potentially Expensive, Prolonged and Cumbersome Even where there are potentially issues to litigate, litigation is not an easy solution so is generally not pursued where the debts are smaller in amount, the number of creditors higher and the clients finances tighter. I told them they got a bad lead since they werent even able to tell me how they computed the amount shown in the letter from their negotiations department, received letter in mail, no company name,address or website. This is not an issue in bankruptcy where debt cancellation is not taxable. What are Tax Debt Negotiations and Settlements? Our staff concentrates separately on each debt, each client and each negotiation to obtain the best outcome for that individual debt, client and/or negotiation. Because litigation is potentially expensive, prolonged and cumbersome, it should only be pursued where its advantages are apparent. The majority of the marketing that solicits persons seeking debt relief is for Debt Consolidation or Debt Reduction companies that work differently than our law office. 2. Our consultations are free, but our legal advice may be invaluable. A Chapter 7 bankruptcy case will eliminate most or all of a clients debt, and will allow the client to obtain a fresh financial start. Our firm will advise its clients as to what matters can be negotiated and to what extent their creditors may accept certain offers. Let us help you in your efforts to save your home with experience and expertise that is both affordable and personable. regularly represents its Long Island and New York clients in credit card negotiations. Negotiations are preferable where, as with credit cards, the debts are not huge in amount and the debt is not subject to many potential disputed issues. I *67 my cell before I called and they report that they are a debt reduction company and that they will negotiate down your high end credit cards/accounts to around half and then set up payment plans for you through them to pay the remaining. Prior to filing the bankruptcy case the client must complete a pre-filing session of credit counseling which is a session, by phone or by internet, with a credit counsellor who analyzes the clients finances in a private session with the client. 3. c. Lien Release Where the creditor has a lien agains the clients property, which can be a judgment lien, or a voluntary secured lien or a mechanics lien, a settlement agreement should also reference and entail a lien release document being prepared and filed to release the lien against the clients property. We have helped many of them permanently eliminate unsecured debt and re-establish their financial stability. 6. The income based on the average gross income in the last six months measured by family size needs to be below the median in New York State based on household size. Program fees are separate and not included in balance example. 2. Failure to respond and making minimum monthly payments will likely result in interest accruing on your unsecured credit balances at an unreasonable rate.