Does debt relief law require any legal fees to be paid?

The answer to the question of whether debt relief law requires legal fees to be paid in New York depends on the type of debt relief law being utilized. While some debt relief laws allow for legal fees to be paid, others do not. One type of debt relief law that typically does not require any legal fees to be paid is a debt consolidation plan. Through debt consolidation, a person’s current debts are grouped together and a new loan is taken out to pay them off. The individual then makes a single, lower monthly payment to repay the loan. Another type of debt relief law that most likely does not require legal fees to be paid is bankruptcy. In most cases, individuals who file for bankruptcy don’t need to pay any legal fees, as the law requires the court system to provide free legal help. On the other hand, debt settlement programs typically require legal fees to be paid. In a debt settlement program, a person negotiates with creditors and debt collectors to reduce the amount of debt that they owe. In order to ensure that the negotiations are handled legally, professional lawyers are often employed. These lawyers typically charge for their services, which may include legal fees. Overall, debt relief law in New York does not necessarily require legal fees to be paid. It depends on the type of debt relief law being utilized.

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Does debt relief law require any legal fees to be paid?

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