New Jersey Debt Negotiation Attorney by Daniel Straffi

New Jersey Debt Negotiation Attorney by Daniel Straffi

If you face money trouble in New Jersey, you are not alone. Many people in the state struggle with bills that accumulate after a job loss, divorce, or medical issues. When calls from creditors begin and letters keep coming, the stress can affect every part of your day. Quick ads may offer easy solutions, but many of those offers take fees and leave you with more problems. Real solutions exist, and they often begin with understanding what debt negotiation can do for you.

Straffi & Straffi Attorneys at Law
670 Commons Way, Toms River, NJ 08755, United States
(732) 341-3800
https://www.straffilaw.com/new-jersey...

https://www.google.com/maps/place/Str...

Debt negotiation, also known as debt settlement or debt relief, gives you a way to talk with those you owe. Instead of facing the balance in full, a trusted third party can work with creditors to lower the amount, arrange smaller lump sum payments, or spread payments over time. Many creditors in New Jersey agree to this arrangement because receiving part of what you owe is better than receiving nothing at all. This approach works best for unsecured debt, such as credit cards, medical bills, utility bills, and personal loans. It does not work the same way for secured debt like mortgages because the lender can reclaim the collateral.

When looking at your options, it is important to know which debts are more difficult to handle through standard programs. Federal student loans, for example, follow strict rules, and tax debt involves its process, like the IRS Offer in Compromise. Business debt can depend on how the loan was set up and whether there was a personal guarantee. A clear review of your situation can show whether negotiation or another route, like Chapter 7 or Chapter 13 bankruptcy, may fit better.

In New Jersey, you also have protection under the Fair Debt Collection Practices Act, known as the FDCPA. This law stops collectors from using abusive tactics, limits when they can call, and requires written notices about what you owe. The state adds its own rules through the Consumer Fraud Act and requires collectors to hold a license. You can report any violations to the Division of Consumer Affairs.

Debt negotiation carries risks. A creditor does not have to accept a lower amount, and the terms offered may not always be helpful. Settling a debt still affects your credit report and may count as income when a lender files a Form 1099-C. Some companies charge high fees before they even speak to a creditor, which is a red flag noted by the Federal Trade Commission and the Consumer Financial Protection Bureau.

In New Jersey, firms such as Straffi & Straffi Attorneys at Law have worked with residents in Toms River and across the state to review options and talk with creditors. Their team, including Daniel Straffi Jr. and Daniel Straffi Sr., understands the process in both state and federal courts. Whether through a negotiated payment plan or by exploring bankruptcy in the District Court of New Jersey, you have ways to find relief and move forward. For more information or to talk about your situation, you can call 732‑341‑3800 today and take the first step toward a more manageable path.

Does NJ have a debt relief program?
Can I hire someone to negotiate my debt?
How long can you legally be chased for a debt in NJ?
What percentage should I offer to settle a debt?