Debt relief

If you’re facing crushing debt, you may be able to avoid paying it all without declaring bankruptcy. In many cases, you may be able to make debts go away by paying just pennies on the dollar. If you are looking to relieve debt in New York, contact our debt settlement attorney.

We give each situation personal approach, as every person’s circumstances and money issues are different and there is simply no general solution.


During debt settlement, consumer negotiates with creditors himself so that the amount owed gets reduced. 

These days, more and more people struggling to repay debts find out that debt collectors are ready to lower the amount of money owed. Creditors may agree to this if, for example, consumer makes significant payment at once. It is much safer for them to make less money than money no money at all in case consumer qualifies for bankruptcy.


Are you unsure whether debt settlement suits you or not? Do you have any questions? Would you like to learn more about it?

Debt settlement attorney in New York is a great choice for those who do not want to qualify for bankruptcy but still cannot handle expensive loans or do not know if they can repay it at all.

The exact amount of a debt can often be disputed even if you don’t realize it can. Many creditors fail to keep good records that make it impossible for them to prove the amount of the debt in court. The debt may also include illegally high interest or other illegal fees.

In these situations, the creditors are hoping you don’t know your rights. When they know that you’re willing to fight back, they’re often willing to settle at a lower amount rather than risk getting even less if you take them to court.


Whether debt settlement is an appropriate solution in your case or not, it depends on the circumstances. Answer yourself the most important question. Is your debt secured or unsecured?

Sadly, only unsecured loan can be settled.

Unsecured loan is not protected by equipment or asset. It has not been taken to a car or a house. It is not given on a lien. Its interest is much higher and amount is much lower than those of a secured loan. 

Some of examples are:

  • cell phone bill
  • credit card bill
  • medical bill
  • business debt
  • collection account
  • private student loan

Secured loan, in turn, has protection by property attachment (e.g., a car, a house). It might be given on a lien. Its interest is much lower and the amount is much higher than those of an unsecured loan.

Some of examples are:

  • utility bill
  • home mortgages
  • active car loan
  • government student loan

Although sometimes cancelled timeshare debt can be settled.

If you are not sure if debt relief is the right or simply an available option or in your particular case, our debt settlement attorney in New York will gladly give you professional advice and help to decide on what to do next.


If you are trying to repay debt while having troubles with finances, you experience tremendous stress and extreme pressure in this state, not knowing what to do, where to seek help and who exactly you are able to trust.

Our attorneys at Cohen & Mizrahi LLP know how challenging periods like this might be, especially if you got no support.

But assistance of an experienced and determined debt attorney in New York can make a world of difference, removing such a heavy burden from your shoulders.

You are free to negotiate your debts at any time. If creditors think you will take too long to pay or might not pay, they might be willing to accept less today.

If you take this path, it’s important to protect your legal rights. Our job is to make sure the negotiation includes legally-enforceable provisions that ensure the creditor can’t later try to collect on the remaining debt and that your negotiated agreement doesn’t have any unexpected consequences on your credit report.

We strive not only to solve your current problem, but to provide you with security and safety so you are able to solve all of your problems as soon as possible.


Contact us to schedule a consultation.
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    300 Cadman Plaza West, 12th Floor Brooklyn, New York 11201