Credit Card Negotiations and Settlements

Credit Card Negotiations and Settlements – Nassau & Suffolk Counties, Long Island

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.

a) The Need for Credit Card Negotiations – Most of the clients coming to our office with credit card debt are interested in bankruptcy solutions since they are usually more thorough and certain than negotiated settlements. However, there are many instances where our clients have either too much in terms of assets or income to file a bankruptcy case that would sufficiently alleviate their debt situation. In other situations the debt is not sufficiently overwhelming to require a bankruptcy case and the client may be better served by negotiating a lower payment for debt that they can pay.

b) How Our Office Can Help You Negotiate a Settlement with Your Credit Cards – In situations where bankruptcy is not possible or desired by a client, our office can negotiate “lump sum” settlements for payment plans with the client’s creditors. Given that we are a bankruptcy firm and routinely file bankruptcy cases creditors are informed that we are exploring bankruptcy options but would prefer a negotiated solution. Often we are able to obtain a lump sum resolution which reduces the debt to 33-50% of the debt. If the client needs to negotiate a payment plan, the loan will not usually be so drastically reduced but it will be reduced in terms of interest and monthly payments.

c) Our Method of Negotiating with Credit Cards– Because clients often come to use with several or numerous credit cards that require negotiation, we prepare an Excel sheet that lists all the creditors and their pertinent contact and loan information. Then we systematically write and call all the cards in pursuit of negotiated settlements. Using this method we can best track the progress with our settlement efforts and advise our clients as to our progress.

Credit card negotiations can be involved and experience and the leverage of other legal options, are all helpful. The Law Office of Ronald D. Weiss, P.C.  regularly represents its Long Island and New York clients in credit card negotiations.

Our consultations are free, the advice may be invaluable.

Please call us at (631) 479-2455, or e-mail us at for a free consultation with an attorney, at our Melville, Long Island law office to discuss credit card negotiation options in greater detail.