Debt Management

Attorney Ronald Cook “wrote the book” on debt management. The book is called “Get Out of Debt Faster Than You Ever Thought Possible!” and is available on

CLICK HERE to view the book on

debt management book

In the last few years, the number of so-called “loan modification companies” has increased sharply and many homeowners are attempting to get their mortgage modified through these companies.

There are even lawyers that pay advertising firms to get on the radio and TV, but when they retain these clients, they then hand off the real work to the non-lawyers to process the paperwork. There are many reasons why this could be a big mistake. For starters, many companies really
don’t know what they’re doing! Often issues are handled by non-attorneys who previously worked for a lender. They think this makes them an expert so they start up a business offering nationwide loan modification services. Many of these companies do not know how to properly handle matters
and they “mess up” the loan modification. Often you don’t get the best terms because paperwork is not done properly. There have been government “crack downs” on these firms. Some loan modification companies try to mislead people by stating they guarantee a loan modification.

I have had people tell me they had a signed GUARANTEE from a company that messed up the loan modification where the house fell into foreclosure. There was no real guarantee. The loan modification company went out of business. The truth is that the lender is NOT obligated to give you a loan modification, and in order to get one, you need to apply PROPERLY.

A loan modification is largely a legal process. Non-attorney “debt relief companies” often don’t even know the intricacies of the ever changing law applicable to modifications. Your goal should be to increase the odds that you’ll get approved. To do this, you should retain an experienced
local licensed attorney in order to ensure you have the best probability of achieving loan modification success. A loan modification may enable the homeowner to reduce their interest rate and lower their mortgage payments. In many cases, it is also possible to actually get
the outstanding principal reduced as well. This is especially true when there is a second mortgage involved and when the property is worth less than the outstanding mortgage. With loan modifications, countless clients have told me that the lenders were not really willing
to help UNTIL the client obtained legal representation. An experienced attorney can often assist you in obtaining better results than you’d be able to obtain yourself. For example, if you receive a 4% loan modification when you COULD have obtained a 2% loan with an attorney’s assistance,
this will cost you!

It’s not uncommon to see an attorney attain lower rates for homeowners.
Graduated payments plans are also possible in many instances. This is where a bank will approve a low rate for one year, increase it maybe one percent the second year, and then again for the remaining years. Many times they also agree to forgive overdue interest and penalties.

a good attorney knows the right way to talk to lenders. A loan modification attorney will look at your case from a legal point of view. Lenders are far more likely to respond fairly and appropriately when a knowledgeable attorney is managing the process.

Attorneys can “buy you time” when needed. If you attempt a modification on your own, you might get passed around from representative to representative without really moving forward. And if you’re already facing foreclosure, you can’t afford to waste time. A lawyer can slow down a foreclosure even while it’s under way, giving you more time to recover your finances while they work on saving your home.

If a lender is being difficult, an attorney can help a file a bankruptcy to stop the foreclosure. Also, an attorney can file a motion to stop a foreclosure sale.

Lenders are often difficult to work with for many reasons.
Often you get different answers from different service representatives every time you contact your lender and there is often turnover.
The lender is not set up to help you unless you already know exactly what they require.

CLICK HERE to confirm you’re working with a licensed New York attorney.

CLICK HERE to contact the law firm.

Are You a Good Candidate for Debt Settlement?

If you have unsecured debt that you cannot reasonably pay, you might be a good candidate for our debt settlement services. Unsecured debts refer to debts that aren’t attached to an asset. Examples of unsecured debts are credit cards, medical bills, private student loans, and cell phone bills. We have negotiated settlements that have reduced the interest and principal for countless accounts.

How the Process Works

If you’re interested in debt settlement, the process will begin with a consultation. Attorney Cook will look over your debt situation and explain the options. Mr. Cook is transparent every step of the way, so when you leave the consultation, you will have realistic expectations regarding the debt settlement.

Then, the attorney will get to work. He or she will reach out to your creditors to begin the negotiation process. He is an experienced negotiator and understands what is necessary to settle with creditors.

Once a settlement is obtained, he will go over the paperwork to ensure the creditor cannot come after you at a later date. Then, you will pay the settlement in full. In most cases, the settlement is for much less than what is actually owned.

Your creditor will update your credit report to show that the account has been settled. If your account is currently delinquent, this will help your credit score.

Get Out of Debt With Our Help

Living with debt is stressful and affects your quality of life. You are stressed out and nervous about what will happen next. Put your mind at ease by contacting Ronald Shields Cook, Attorney at Law to set up a consultation. We have daytime, evening, and weekend spots available, and we are ready to help you break free from debt.

CLICK HERE to read the article “Good news for small business owners”

(It is now easier to file a bankruptcy for a business)

CLICK HERE to view books published by Attorney Cook

CLICK HERE to read about the steps in a bankruptcy case.

CLICK HERE to contact the law firm

or call us at (888) 275-2620

If you are considering a bankruptcy, CLICK HERE to read a book which discusses “things to think about” when going through the bankruptcy decision making process.

If you’ve made the decision to file a bankruptcy, CLICK HERE to read a book which discusses how to file a bankruptcy.

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