Debt Settlement FAQs
Guidance for Business Owners in NYC & Nationwide
Facing rising debt obligations with no avenue for relief can be incredibly overwhelming and scary, especially for business owners who have the financial stability of themselves, their business, and their employees to consider. The debt settlement attorneys at Raiser and Kenniff, P.C. appreciate what you are up against and are here to help.
Below, we answer some commonly asked questions about debt settlement and how an attorney can help with the debt settlement process. We are also always available to provide personalized guidance to clients both in New York and across the US.
Please fill out our online contact form or call (888) 646-0025 to schedule a consultation with us.
What Do I Do if I Receive Notice of a Delinquent Debt?
If you receive a notice of a delinquent debt, it is crucial to act swiftly. First, verify the debt details and ensure that the notice is accurate. Though it may feel premature, consulting an attorney at this point could be a good idea. A qualified debt settlement law firm, like Raiser and Kenniff, P.C., may be able to contact the creditor on your behalf to discuss the situation and explore repayment options.
Whatever you do, do not ignore the notice; doing so can lead to further penalties and legal actions.
Why We're the Right Choice
Attentive Service. Strategic Defense.
Raiser and Kenniff, P.C. is here to help you get the results you need with a team you can trust.
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Personalized Legal StrategyWe don’t believe in one-size-fits-all solutions. Every case is handled with a custom legal approach tailored to your goals, your circumstances, and your future.
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Risk-Free Consultation
We offer a risk-free evaluation of your case and are here to help you understand your legal options. We are available 24/7, day or night, to help you.
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Top-Rated Team
Nationally recognized for results. Our attorneys have been ranked among the best in the U.S., Trusted for their strategy, skill, and relentless client advocacy
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Former ProsecutorsOur founding partners are both former New York prosecutors who bring unique experience and insights to every case, especially when it comes to going to trial.
How Do I Deal with a Debt Collection Lawsuit?
If you are served notice of a debt collection lawsuit against you, your first step should be to secure legal representation from a qualified debt settlement attorney, like ours at Raiser and Kenniff, P.C.. The sooner you do this, the better, as you have a limited timeframe within which you must respond to the lawsuit.
Ignoring the lawsuit can result in a default judgment against you, leading to wage garnishment or bank account levies. Your attorney can guide you through submitting your "Answer" and all the following steps.
The lawsuit process may involve negotiating a settlement, asserting valid defenses (such as improper service or expired statute of limitations), or arranging a payment plan. Remember, having legal representation can significantly impact the outcome of your case.
Do you have more questions about debt settlement or how our firm can help you deal with overwhelming business debt? Contact us online now to schedule a consultation.
a Reputation For excellence
Read Our Client Testimonials
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"They were always available quickly, to address my concerns. Having dealt with some law firms before, I really appreciated this."
Steven Raiser's law firm handled my case with excellence throughout the process. I had a SBA EIDL loan that got transferred to the Department of Treasury unexpectedly, and had a 30% penalty added to the amount due, and due very quickly, which was very stressful. After talking with Steven Raiser, and working with Harry Gill, who was absolutely brilliant in working with me and preparing the case, they were able to recall the case to the SBA. They were always available quickly, to address my concerns. Having dealt with some law firms before, I really appreciated this.
Very grateful and appreciative to Steven Raiser and Harry Gill. Great work- Harry -
They treated me wonderfully and helped me out of a bind. I feel that this firm really cares.- Michelle A.
Debt Settlement FAQs Continued
What Happens if I've Started a Payment Plan and Now Can't Make Payments?
If you can no longer maintain payments on a previously agreed-upon payment plan, contact your attorney to discuss how to approach your creditor or financial institution. The sooner you do this, the better. Contacting your creditor before you have missed a payment can be incredibly beneficial and demonstrate that you are acting in good faith to manage the debt.
Your attorney may be able to advocate for you with your creditors, exploring options to restructure the plan to suit your current financial situation better. Maintaining open and proactive communication can often lead to more favorable terms and prevent default.
What Happens if I Default on an SBA Loan?
Defaulting on an SBA loan can have serious consequences, including legal action and seizure of collateral. The Small Business Administration (SBA) may negotiate a settlement or offer an alternative repayment plan. It is advisable to consult with a legal professional experienced in debt settlement to explore your options and mitigate potential risks.