Credit Card Solutions Brooklyn

• Bankruptcy Solutions
• Foreclosure Solutions
• Modification & Negotiation
• Credit Card Debt Relief

Negotiated Settlement of Credit Card Debt

Credit cards can be aggressively settled, especially when the credit card companies are aware that the alternative may be a bankruptcy case to completely eliminate the credit card debt.
i) The Need for Credit Card Negotiations – Since bankruptcy solutions are typically more comprehensive and certain than negotiated settlements, the majority of customers who come to our office with credit card debt are interested in them.Nonetheless, there are numerous situations in which our clients have too many assets or too much income to file for bankruptcy in a way that would effectively reduce their debt. In other cases, the client may be better off negotiating a reduced payment for debt they can afford rather than filing for bankruptcy because the debt is not sufficiently heavy to warrant that kind of action.
ii) How Our Office Can Help You Negotiate a Settlement with Your Credit Cards – When a client is unable or unwilling to file for bankruptcy, our office can work with the creditors to arrange “lump sum” settlements for payment arrangements. Since we are a bankruptcy firm and file bankruptcy cases on a regular basis, creditors are aware that while we are looking into bankruptcy possibilities, a negotiated resolution is what we would like. We frequently succeed in obtaining a lump sum settlement that lowers the debt to 33–50% of the original amount. The loan amount will typically be lowered, but only in terms of interest and monthly payments, if the client needs to work out a payment schedule.
iii) Our Method of Negotiating with Credit Cards–

We develop an Excel file that lists all the creditors along with their relevant contact and loan information because clients frequently come to us with multiple or numerous credit cards that need to be negotiated. Then, in an effort to reach a mutually agreeable settlement, we methodically write and call every card. We can most effectively monitor our settlement efforts’ progress and inform our clients of it by using this way.
Experience, as well as the power of other legal remedies, are all beneficial in credit card talks, which can be complex. In credit card discussions, The Law Office of Ronald D. Weiss, P.C. frequently represents clients in Brooklyn and New York.

Bankruptcy Relief of Credit Card Debt

A Chapter 7 bankruptcy case will eliminate most or all of a client’s debt and will allow the client to obtain a fresh financial start.
A A client filing under Chapter 7 bankruptcy will have most or all of their debts discharged, giving them the opportunity to start over financially. When it comes to handling heavy credit card debt and other unsecured debts like personal loans and medical bills, a Chapter 7 lawsuit is a very powerful weapon.When a client cannot pay their current obligations and faces the possibility of creditor harassment, collection activities, and negative credit, a Chapter 7 case can be quite beneficial.
i) Initiating a Chapter 7 Case and the “Automatic Stay”  – The filing of a bankruptcy petition, schedules, and statement of financial affairs with the bankruptcy court initiates the Chapter 7 case. These documents, which are meant to reveal all of the client’s financial affairs at the time of filing, include details about all of the client’s assets, liabilities, income, and expenses at that time. Such data is acquired by our company visiting with the customer and conducting a “intake,” during which we ask a number of questions concerning the client’s financial situation and gather supporting evidence for the file, such as bank statements, tax returns, income verification documents, and the client’s bills and invoices. Additionally, we operate a In order for us to accurately include a client’s creditors and debts on their bankruptcy schedules, we need access to their credit report and, upon request, a judgment lien search. The client is required to complete a pre-filing session of “credit counseling”—a confidential session conducted over the phone or online with a credit counselor who evaluates the client’s finances—before filing for bankruptcy. An “automatic stay,” which compels creditors to immediately cease all collection efforts and release bank constraints and wage garnishments, will shield the client from creditors as soon as the Chapter 7 case is filed.
ii) Issue of Potential “Equity” in Assets –The client must appear at a creditors’ meeting during the Chapter 7 case in order to be questioned by a trustee for the Chapter 7 case, whose job it is to ascertain whether any equity-containing assets might be sold to pay off creditors’ claims. Due to the lack of assets to cover creditors’ claims, the majority of Chapter 7 cases are referred to as “no asset” cases. In actuality, the majority of Chapter 7 debtors do have assets, but because their assets aren’t thought to have much equity, their cases are nevertheless regarded as “no asset” cases. Liens, like mortgages and auto loans, reduce the potential “equity” in some assets.loans as well as legislative exclusions that safeguard a specific level of equity.Exemptions are specific asset values that, according to the law, are off-limits to creditors. Currently, there are two exemption schemes available in New York State: those provided by federal law and those supplied by state legislation. The “homestead exemption,” which protects a client’s residence for a maximum of $150,000 per person who owns and resides in the property, is a generous feature of the New York State exemption structure. In contrast, the federal exemption plan offers superior protection for personal property and is more liberal, providing a A “wildcard” exemption of roughly $12,500 per debtor is available to safeguard any kind of personal property, like as automobiles, bank accounts, and tax returns.As long as they make their payments on time and have little equity in their homes, cars, and other personal belongings, the majority of clients maintain all they own.
iii) Issue of “Avoidable Transfers” – The problem of “avoidable transfers” is closely associated with the question of possible equity in assets. These can be “preferences,” or payments to creditors paid to third-party creditors ninety days before the bankruptcy case, or to “insiders,” or the debtor’s family members or close acquaintances, a year before the bankruptcy filing. These can also be “fraudulent transfers,” which are transfers to family members or close friends of the debtor for less than fair value six years before a bankruptcy case. Avoidable transfers are not always evident, and under bankruptcy law, a transaction that at first glance seems benign may later be claimed to have been avoidable.
iv) Issue of Income Level –Apart from the concerns around assets and transfers, another difficulty is income level, as individuals who meet the requirements for Chapter 7 relief are not allowed to earn more than a specific amount, which is determined by the size of their household. In order to qualify for Chapter 7 relief, the client must either pass a means test that considers their necessary expenses even if their income is above the median level, or they must have an average of six (6) months’ gross income that is below a certain level in New York State.Before filing a Chapter 7 case, the income issue must be carefully examined by comparing the client’s household income to their family size and their required allowable costs, in order to decide if the client qualifies for Chapter 7 relief. It is crucial to carefully average the client’s gross household income for the six months prior to the filing of the bankruptcy petition because Brooklyn has a greater average household income than many other areas of New York State. This can be a difficult judgment in many near-line circumstances since, even in cases when the household income is higher than the median income level, there are several

allowances for different necessary expenses that, in certain situations, would enable the filing of a “close” case even in cases where the income exceeds the median. The client may still pursue relief under Chapter 13, which has different filing restrictions from Chapter 7 in cases where the gross household income fails the means test.
v) The emergence of “abusive” debt Lastly, there may be a problem with abusive debt accumulation before declaring bankruptcy. the occurrence of significant balance transfers and cash advances

Just before filing for bankruptcy, creditors can keep an eye on you and object to the debt being discharged. Sometimes it’s best to wait and make a set number of payments before filing for bankruptcy when a customer has just incurred such “cash” debt.
vi) Avoiding Judicial Liens Against the Client’s Home – Secured liens placed against the debtor’s property cannot be discharged by the Chapter 7 case, even though it can erase unsecured debt against the debtor personally. The client may file a motion to avoid the judicial lien if, before the bankruptcy filing, a creditor had acquired a judgment and had placed it as a lien against the client’s residence because it was impeding the client’s ability to utilize his homestead exemption. Such a move can effectively prevent the judicial liens if the client’s house has no equity other than equity protected by the homestead exemption.
vii) Concluding a Bankruptcy Case and the Bankruptcy “Discharge” –A “discharge” order, or the debt’s official forgiveness, is the aim of every Chapter 7 case in order to provide the client with a “fresh start” and the opportunity to repair their credit. When a debt is discharged, the automatic stay that provided temporary protection becomes permanent. In essence, the majority of the client’s unpaid bills have now been declared void by law. The majority of student loans, the majority of taxes, and the majority of child or marital support obligations are among the few exceptions to the discharge. Although they have the option to voluntarily keep or “reaffirm” some debts, most clients choose to discharge all of their unsecured debt.
viii) The Potential Benefits of Chapter 7 and the Role of Our Law Office – The most popular kind of bankruptcy case is Chapter 7, which is used by people who are overburdened with debt to get out from under their legal obligation to pay (or “discharge”) debts such as credit card debt, medical bills, unpaid repossession or foreclosure, or other debt. Since Chapter 7 proceedings typically last four (4) months, they are quite effective in relieving clients of their need to pay debt that exceeds their means of support, enabling them to promptly address and resolve their issues. Still, a A bankruptcy attorney must carefully examine a client’s circumstances to make sure there are no issues that could complicate the case, such as large assets with significant equity, potentially excessive income, alleged “avoidable transfers,” and/or debt that the client may have taken on in an abusive or dishonest manner.

Like other bankruptcy cases, Chapter 7 cases can be very helpful in helping a client manage their debt, even excessive credit card debt. However, because Chapter 7 cases are so complicated, it is best for an individual to be represented by a bankruptcy attorney in order to progress with their case as efficiently as possible. You can get information and guidance regarding Chapter 7 bankruptcy from the Law Office of Ronald D. Weiss, P.C., including how and whether it can help you get relief from your excessive credit card debt.
The United States Bankruptcy Court often hears Chapter 7 cases involving Brooklyn and New York clients seeking the discharge of excessive credit card debt. The Law Office of Ronald D. Weiss, P.C. can discuss with you any matters pertinent to a possible Chapter 7 case.

Litigation Defense of Credit Card Debt

Litigation Defense allows a defendant to use procedure and the legal process of the court system to challenge alleged credit card debt and to assert their legal rights.
Numerous customers of Ronald D. Weiss, P.C. face the possibility of litigation or collection activities from their creditors. Most of these creditors typically owing money for credit cards. One option for a creditor facing contested litigation, particularly one involving sizable sums, is to prepare a defense. Our company can assist the customer in responding to the lawsuit’s summons and complaint. Within 20 to 30 days following the summons and complaint’s service, this must be completed. One of the many documents often filed as part of a lawsuit is this response. protection. A response to a move for summary judgment and, if appropriate, a move to dismiss may be included in further filings. The client can raise any defenses they may have against the way the lawsuit was started by defending the legal action. A litigation defense also extends the case’s duration and notifies the client and our firm of its status. A client may occasionally have a compelling defense, which could lead to the dismissal of a lawsuit. Our office’s defenses focus on things like poor service, the existence and relevance of the said loan paperwork, the comprehensibility of the purported loan terms, the

suitability of the credit card fee schedule, interest rate, and loan amount. In order to assist with prospective defenses and to try and gather papers and/or information surrounding the alleged debt, our firm would frequently engage in discovery demands.
The customer can raise any defenses they may have regarding the way the collection action was started and/or the way the credit card debt was extended by defending the collection activities by credit cards.

Litigation defense is one of the tactics utilized by The Law Office of Ronald D. Weiss, P.C. to contest purported credit card debt obligations and/or to gain time and leverage for our clients to negotiate with their credit cards. The firm routinely defends its clients in court.

How Our Law Office Can Help You With Credit Card Relief

When trying to get relief from credit card debt and other unsecured obligations, the client’s success greatly depends on the skill of the lawyer defending them.Since 1993, we have effectively assisted thousands of Brooklyn, Nassau County, and Suffolk County residents in obtaining debt relief from credit card and other unsecured sources. Many of them have been able to permanently get rid of their unsecured debt and restore their financial stability with our assistance.When someone has unsecured debt, they should carefully consider all of their legal options: Litigation defense, bankruptcy, and/or negotiated settlements are the three options. Allow us to assist you in saving your house with our friendly, reasonably priced experience and knowledge.
Our consultations are free, the advice may be invaluable.
Please call us at (631) 271-3737, or e-mail us at [email protected]Request a free appointment to go over your choices for credit card relief in more detail.