The Law Offices of Neil Crane has been providing care, solutions and guidance on debt since 1983.  Call our office or submit a chat form today.

When facing overwhelming debt issues, the specifics of your case will determine what is the best strategy for your recovery. Learning about the options is the first step to a debt solution.  With the guidance of an experienced professional, you’ll learn which choices are right for you between bankruptcy and non-bankruptcy options like Debt Settlement and Debt Consolidation.



DEBT SETTLEMENT is a process whereby you or preferably your attorney agrees to pay a discounted lump sum payment in exchange for a full release of the remainder of the debt.  Debt settlement is a particularly good option if you have fewer debts of larger amounts rather than lots of small bills.  Debt settlement takes preparation, persistence, a dose of patience, and good final documentation often called a Debt Settlement Agreement.  When deciding to do debt settlement remember collectors, collection agencies or collection attorneys are often difficult to deal with.  They are often unavailable or not highly committed to quality settlements unless you stay vigilant and persistent.  They rarely keep one person on your account, give out their emails or work in a consistent fashion.  They often have thousands of files and not enough time to pay proper attention to your individual account.

You need to be persistent, but you also need to have patience and understand that their first offer is often billed as their best offer, but usually isn’t their best or last offer.  You need to be able to know when to hang up and when to re-call.  You can’t re-call too quickly or you’ll seem too eager and won’t get a good deal.  Conversely, if you wait too long, the debt may get transferred or become a lawsuit from a collection attorney.

If you do make a deal, be careful how you pay it and most importantly, get it properly documented.  All settlements need to be paid properly and only in exchange for a legally binding Debt Settlement Agreement.  If you aren’t careful, you can end up settling a debt without legal proof, which can result in an unnecessary tax, continued collection efforts, or the re-selling of your debt.  You also need to have the proper documentation necessary to clear your credit report and re-build your credit score, as debt settlement will have a negative impact on your credit.

We recommend seeking advice from an experienced professional or lawyer before trying to do a debt settlement on your own.


DEBT CONSOLIDATION is a popular but exceedingly unfair option for most Connecticut families.  Most consolidators are out-of-state, unknown, and unproven companies that negotiate with your creditors. It usually involves high, upfront fees, unnecessary costs and no personalized service or attention.  Consolidator fees are usually paid upfront by a monthly direct deduction from your account. It is also important to understand that debt consolidation will take years and destroy your credit.  Most debt consolidation plans are unfair from the start and can end months or years later, with no debt solution, higher bills and most often a collection lawsuit here in Connecticut.  Further, your creditors have to voluntarily agree to the consolidation terms and there is no guarantee they will agree which prevents you from obtaining the complete resolution of your debt that you were looking for.   None of these consolidation companies are local Connecticut companies, so they either will abandon you at the first sign of a lawsuit or farm your case to an incompetent attorney who promptly loses your case in courts here in Connecticut.

At the Law Offices of Neil Crane, we see debt consolidation failures every week, and  advise against consolidation efforts all together as it is the most detrimental option.


BANKRUPTCY is often the best way to resolve overwhelming debt, especially if you can qualify for a full discharge of debt under Chapter 7.  The advantages of bankruptcy under Chapter 7 are primarily as follows:

  • Bankruptcy covers all unsecured debts without repayment as long as they are dischargeable, (i.e. student loans, child support, and most tax debt are non-dischargeable.)
  • Bankruptcy resolves your debt without any cooperation from creditors as they have no legal options to pursue against you for filing bankruptcy.
  • Bankruptcy law automatically stops all creditors throughout the United States in any stage of collection, including foreclosures, collection suits, wage garnishments, repossessions, and bank attachments.
  • Creditors are permanently barred from future collections and harassment.
  • Bankruptcy protects your personal assets, including homes, cars, bank accounts, personal possessions and your pay check.
  • Bankruptcy has none of the negative tax ramifications found with debt settlement or debt consolidation.
  • Bankruptcy ends all continuing negative credit reporting permanently.
  • Bankruptcy improves credit scores by removing all negative reporting and correcting your debt-to-income ratio. Our clients often rebound with their credit score faster after a bankruptcy filing then with either of the other two options.
  • Bankruptcy is faster and more affordable than debt consolidation or debt settlement, and provides for a global resolution of all your debt.


While there are non-bankruptcy options, it’s not surprising that bankruptcy is often the far better debt solution – It’s a law written by the Congress with the express intention of resolving debt problems for people just like you.

Download our Debt Resolution Comparison Chart – Law Offices of Neil Crane

Connecticut Debt Solution Lawyers

To learn more contact the Law Offices of Neil Crane for a free consultation, We provide expert legal services at affordable rates with payment plans that fit your situation, we will be able to show you the best option to handle your financial difficulties.  Call us Now at 203-230-2233.