A consumer contacted our firm after receiving a letter from Fein Such Kahn
and Shephard, a common New Jersey debt collection law firm stating that
a NJ judgment had been entered against him by LCS Financial Services Corp.
After contacting Fein Such, we learned that the judgment was due to a
default on a second mortgage resulting in a balance of $134,913.39. Our
client had serious medical hardship as he suffered a brain hemorrhage
and was diagnosed with prostate cancer within a few years from each other.
These health problems resulted in significant debt to accrue as he was
not able to work or pay any other debts when receiving treatment. Medical
debt is one of the top reasons people incur judgments against them and
often are forced to file for bankruptcy.
Although it is very common that our clients accumulate debt after suffering
a medical hardship, we do our best to help them get back on their feet
without filing for bankruptcy. In this case, we were able to negotiate
an interest-free settlement of $30,000 over 100 months cutting off over
$100,000 of debt! This deal was also remarkable because of the long-term
payment arrangement that we were able to obtain for our client. The client
was extremely thankful for the significantly reduced settlement amount
and reasonable payment arrangement as opposed to any potential garnishment
of his wages or levy of his accounts.