Bankruptcy Lawyers Near Me
in New York, United StatesCategory: Local business
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BankruptcyLawyers
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New York, NY 10014 Print route »Business hours
Mon - Fri 8.30 a.m - 7 p.mSat 9 a.m - 3 p.m
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If you are behind on your debt, you may have been told that a debt settlement could be an option. Debt settlements are when a creditor is willing to settle your debt for less than is actually owed. For example, if you owe $10,000 in credit card debt that is way past due, the credit card company may accept a one-time payment of $7500 as ‘payment in full.’On the surface, this certainly sounds like a great option. You can save a lot of money, and get your debts paid off quickly. And, in some cases it can actually be a good strategy for getting out of debt more quickly. Having a fuller understanding of how this type of thing works, and what potential issues with it there may be, is an important step in deciding if it is right for you.