Steven J. Richardson
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Bankruptcy, Collections, Student Loan, DUI and Traffic Court attorney in Woodbury, NJ.

People that are in debt get lots of mail, from creditors, collection agencies, and finally lawyers. After a while, they stop opening it, knowing that it is going to be bad news. They stick their heads in the sand.

Unfortunately, ignoring a problem never makes it go away, and what you don't know can hurt you a lot. Eventually, creditors will bring suit, get a judgment, and then look to collect on it in the form of a bank levy or a wage execution.

Resolving Debt Early On Is Better

Although it is possible to resolve debt problems that have gotten this far, it is much easier to do it the earlier it is in the process. This is because:

  • Creditors might well take less in a lump sum if they don't have to share it with the collection agency or the lawyer to pay their fees (or those fees won't be added to what you owe if the agreement with the creditor makes you responsible for collection costs).
  • They might be more willing to take a monthly payment that is lower than the wage execution rate if such an execution (and the establishment of cash flow for same) is months away. In other words, less per month starting now is better than more per month starting later.
  • You can avoid the major disruption to your life that a wage execution or bank levy can cause.

These days, whether it is credit card debt or medical bills from an unexpected illness or injury, when the dogs start barking, they all bark at once. If you are in a situation like this, the sooner you contact me the better.

Can I Help?

I have helped many people deal with mounting debt, and working towards a solution is the best cure for the stress that overwhelming debt can cause.

If you live in southern New Jersey and want a lawyer to represent you against your creditors, call my office at 856-432-4113 or contact me through this site to schedule an appointment to come in. I have represented creditors for many years and am familiar with the collection industry and how it ticks. Put my experience to work for you!

If your debt situation goes beyond one or two creditors, however, and you are wondering whether you need a solution to a bigger problem, then download my free book, Am I In Too Deep? A Guide to Knowing When You Need to File Bankruptcy in New Jersey to find out if bankruptcy might be the solution.

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Excellent tips! Collectors are normally willing to settle, but this means being up front and confronting your debt head on. Do not run from your debt, it will only grow and so will the consequences.
by commerical debt collection December 11, 2010 at 12:56 PM
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