Making Your Loans Financially Manageable
Bankruptcy is a viable option for many individuals struggling with debt. However, many find that loan modifications can be just as effective as bankruptcy at reducing debt and making loan payments more manageable.
A loan modification involves revisiting the terms of an existing loan, negotiating with lenders and coming up with a mutually beneficial change to the contract. The law firm of Jeffrey M. Rosenblum, P.C., has significant experience helping individuals and businesses explore ways to deal with debt and explore alternatives to bankruptcy.
Contact the law office to schedule a free initial consultation.
The Loan Modification Process
Each bank has its own internal policies regarding loan modifications and negotiations. The policies and requirements can change on a daily basis. It is critical that your lawyer understands the general loan modification process. But, it is especially beneficial if your attorney understands the individual practices of each bank.
The loan modification process is a complex, document-heavy process, requiring records of income, expenses, property and more. The attorneys at our firm have decades of experience in bankruptcy law and debt relief matters. Together, we assist clients in effectively modifying all types of loans, from mortgages to car loans.
If approved, a loan modification can do many things:
- Reduce principal
- Lower monthly payments
- Lower interest rates
- Extend the length of the repayment plan
Contact Us For A Free Attorney Consultation
For more information about loan modifications, mortgage workouts and short sales, contact our law firm today to schedule a free initial consultation. Call 516-829-4700. We have offices in Westchester, Nassau and Suffolk County, as well as Brooklyn and London, UK. We are a debt relief agency. The law firm of Jeffrey M. Rosenblum, P.C., helps individuals and business owners file for bankruptcy relief under the U.S. Bankruptcy Code.