Debt Relief and Negotiation


Unfortunately, debt has become a fact of life for many consumers.  The good news is that, even if a person is facing crushing debt, there are ways to strategically minimize the debt (or even eliminate it entirely) by engaging in a process known as “debt settlement.”

Debt settlement is a process during which the debt collector and a consumer engage in settlement negotiations, which can greatly reduce the amount that the debt collector is trying to collect.

As is the case with all negotiations, an educated approach to the process is critical for a successful outcome.  Knowing what options are available can open doors to the negotiations that would otherwise be closed.  For example, debt collectors are likely to agree to lower the amount of the debt if the consumer offers to pay a significant amount in a single payment.  Knowing how and when to use this and other negotiation tactics can greatly benefit the consumer and help level the debt collection playing field.

Further, the exact amount of a debt can often be disputed. Many creditors and debt collectors fail to maintain correct records of the debts they are owed, and there may very well be mistakes in the amounts they are trying to collect (such as an incorrect principal amount, incorrect interest rates or mistaken fees or penalties). Even more, the debt that the debt collector is trying to collect may include illegally high interest or other illegal fees.  Often, these mistakes can give the consumer the ability to dispute the debt or even take the debt collectors to court for illegal debt collection practices.

In these situations, the debt collectors are hoping you don’t know your rights. When they know that you’re ready and able to push back, they are often willing to settle the debt at a significantly lower amount rather than risk the repercussions they might face if you take them to court.


Whether debt settlement is an appropriate solution depends on the circumstances.

For example, unsecured debts (which are debts not protected by a lien against a property or assets) are usually easier to negotiate than secured loans.  Some examples of unsecured loans are cell phone bills, credit card bills, medical bills, collection accounts and private student loan.  Secured debts, on the other hand, are protected by a lien against a property or assets, and can be more difficult to negotiate because the creditor has the option to take possession of the secured property or assets in the event the debt is not paid in full.


Debt collection can cause tremendous emotional and financial stress.  At Cohen & Mizrahi LLP, we know the challenges that can be caused by being on the receiving end of debt collection.  However, we also know that the assistance of an experienced and determined debt collection attorney can make a world of difference and remove the heavy burden from your shoulders.

Not only are the attorneys at Cohen & Mizrahi LLP experienced in the various aspects and strategies necessary to successfully negotiate a debt settlement, they are mindful of how to best protect your legal rights while doing so (such as using legal strategies to both ensure the debt collector can’t try to collect on the amount of the debt that was successfully negotiated down and to protect you from any unexpected consequences the debt may have on your credit report).

We pride ourselves on our abilities to not only to solve your current debt-related issues, but our ability to provide you with the security and peace of mind that your current debt-related issues will not cause you problems in the future.  Let the attorneys at Cohen & Mizrahi LLP fight for you!