Glen A. Kurtis, P.C.
Glen A. Kurtis, P.C.
  • 175 Main Street
    Suite 614
    White Plains, NY 10601
  • Call Today For A Legal Consultation

    (914) 686-3171

The cost to get debt settled depends on the particular situation of the client—whether they have a hardship situation, if they are on disability, if they are unemployed, or if they are injured. That hardship information is certainly a factor in settling the debt. It also depends on the type of debt that the client has, and who the credit issuer is. I know the parameters of certain creditors. Some creditors can look to settle a debt for 20% to 50%, while other creditors are looking for 70% to 85% and they don’t deviate from that percentage. Overall, it really depends on the individual circumstances of each client.

What Kinds Of Debt Is Generally Eligible For Debt Settlement?

Of the kinds of debt that I settle, I would say 90% are credit card bills from stores or from regular banks. I can also settle utility bills, old phone bills, and sometimes car leases or loans that are in default. Medical bills also can be settled. However, you generally can’t settle any fines from the government, any child support or spousal maintenance. Most other debts can all be settled.

How Much Debt Should One Have To Consider Debt Settlement?

There is no limit as to what amount of debt is required to enter into a debt settlement program. Most people are overwhelmed with anywhere from 5 to 20 creditors, and each creditor is calling or sending letters several times a day. It can be quite burdensome. At that point I like to step in and prevent the creditors from contacting the client directly. Debt settlement could be a single case worth $1000, or it could be a client with $100,000 debt over 20 different credit card issuers. There is no limit.

How Long Does It Generally Take To Go Through A Debt Settlement Program?

The length of time it takes to go through a debt settlement program depends on the client—how much they are paying into the program, the type of debt that they have, and the amount of debt that they have. A very small program could last anywhere from 2 to 3 months, and a larger program could go on for two years.

Additional Information On Debt Settlement In New York

The first thing that a person should consider when they are considering debt settlement is can you pay the debts as they are claimed, with the money that you make or have, taking into consideration your other expenses. If the answer is no, you can’t pay the debts that are accumulating with the income, then you need to develop another strategy for either paying or dealing with the debt. The first option might be bankruptcy or debt settlement. If someone doesn’t qualify for bankruptcy, the only other option that I provide is a debt settlement program. When they enter into the program, I shield them from their creditors, they start making payment, and in time I start settling the debts one by one. It gets to be a more manageable financially.

For more information on Cost Of Debt Settlement Program, an initial consultation is your best next step. Get the information and legal answers you’re seeking by calling (914) 686-3171 today.

Glen A. Kurtis, P.C

Regardless of your legal matter, I am prepared
to work with you throughout the legal process
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