Frequently Asked Questions

What Is Debt Settlement?

Debt settlement, often called debt negotiation or debt resolution, involves negotiating lump-sum settlements with creditors. This can help you decrease the principal that you owe. I have years of experience helping my clients negotiate this path, and can help ensure there are no hidden surprises.

What Is Debt Consolidation?

This means taking out a loan to pay off all your other debts. This may help you reduce interest rates and combine all your debts into a single monthly payment.

What Is Bankruptcy?

There are different types of bankruptcy, but if your situation is dire they may be your best options. Bankruptcy allows you to either cancel your debts, or set up years-long repayment plans. The goal is to give you a fresh start from your debt. Since I believe it would be a conflict of interest to handle bankruptcy matters, I would be happy to refer you to a competent bankruptcy attorney to handle your case.

What Is Foreclosure?

Foreclosure is when your rights to a property are forfeited because of failure to pay your mortgage. If you’re unable to pay off the debt or sell the property in a short sale, the property goes into a foreclosure auction.

What is a Judicial Foreclosure?

This is when the lender (usually the bank) seeks to foreclose through a civil lawsuit against the borrower (you) and serves the borrower (you) with a formal summons. This type of foreclosure is handled through the court system. The lender records a lis pendens with the county clerk and becomes a lien on the property. The home may now go into foreclosure auction. This process can take up to eight months, if there are no legal objections raised.

What is a Notice of Foreclosure?

A “Notice of Foreclosure” is a document to the public of foreclosure proceedings where property is being repossessed by the lender. You will typically receive 10 to 30 days’ notice of the lender’s intent to file a foreclosure action.

When Should I Get Help?

You should contact me as soon as you receive the “Notice of Foreclosure”. Fill out the form to the left, on the Contact page, or for quickest results please call me at (908) 399-8895 for a free consultation.

How Much Will This Cost?

Every case is different, but my fees are modest compared to most attorneys. As soon as I hear from you regarding your individual situation I will be able to give you the cost.

Get Help Now

Reach out today for a free consultation to see how I can help you solve your debt problems immediately.

(908) 399-8895

attorney@richardmalgran.com

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