I was feeling very overwhelmed and didn’t know where to turn. Then I stumbled upon pacific debt and Wyatt in particular. He was ever so professional and knowledgeable. He walked me through the process easing my concerns. Thanks pac debt and especially Wyatt.
Well, I just signed up today bailing from another well known company I have been with for a couple of years. They were terrible, taking my money monthly and I still had people knocking at my door. I am hoping this company is going to be better based on their reviews…
Julius Y is the person l spoke to, he helped me understand how consolidation worked. He explained everything l asked, he had a Great Personality & made me feel very comfortable talking to him. He knew every answer to the questions l asked. He is a Great Person to deal with the public. I had my friend call him & sign up with your company.
Pacific Debt has been friendly and helpful at each level. Our Client Service Manager answers all questions and makes sure we understand what is happening at all times. She makes regular contact to keep us up to date and explain what we can do to make the process easier. I have nothing but good things to say about Pacific Debt and would recommend them to anyone in need of their specialty.
I recently went through a divorce, We sold our home and I would like to use the funds to get my debts resolved once and for all. Read Case Study
Location: New York, New York
I was diagnosed with cancer and I will be going be going through treatment and I will be going on disabilty therefore my income will decrease. I will not be able to continue to make these payments so I reached out for help to pay off my debt once and for all. Read Case Study
Location: Buffalo, New York
I was in over my head with monthly payments on my credit cards and I began to fall behind. I reached out for assistance with my debt to pay off my credit cards and avoid bankruptcy. Read Case Study
We can help you and your family with relief from debt in the state of New York.
New York seems to be the center of the universe. Everyone knows New York City. Many of our ancestors passed through Ellis Island and New York City on their way to America. The rest of the state offers beautiful scenery, rich farming, and lovely mountains. Between New York City and the rest of the state, New York is ranked #3 for population and #7 for population density.
As of 2018, almost 20 million people called New York home. New York City is the largest city in the US and is the 24th largest city in the world.
The median state income is $62,909. As of 2018, the minimum wage is $11.00 per hour. Compared to other states, that minimum wage seems high, but when compared to the cost of living, it is very easy to get into debt. Unfortunately, 20.4% of New Yorker children under 18 live in poverty. For residents overall, 14.7% of all people in New York live under the poverty level.
Median state income: $62,909
Minimum wage: $11.00/hour
Children in poverty: 20.4%
People in poverty: 14.7%
Is New York a Community Property State?
Unfortunately, New York is not a community property state. Therefore your assets are not seen as 50/50 owned by you and your spouse. There are 10 states that are community property states, or a marital property state. In the state of New York, the judge will decide which assets are shared by you and your spouse, and what the equity is.
More than half (51.1%) of New Yorkers hold a mortgage. The median home price in New York State is $282,100 (2018). Of course, that median price depends on the location with some areas being much higher. In NYC, the median home price is $674,500.
Homeowner rate: 51.1%
Median home price: $282,100
New York has a current unemployment rate of 4.6%. However, the underemployment rate is 9.4%. Underemployment is the percentage of civilian workers who are unemployed, employed part-time or are not seeking employment.
If this is you, we can help. Pacific Debt offers New York debt relief solutions tailored to your unique situation and budget. Our certified counselors help you work up a budget, and explain your options.
Unemployment: 4.6% (2018)
Underemployment: 9.4% (2017)
New York Debt
New Yorkers carry a lot of debt. The average credit card debt is $3,710 (2017). The average student loan debt is higher than the US average at $32,200. When you add all that debt on top of the cost of homes (rental or owned), versus the median income, it is very easy for New Yorkers to get into debt.
Avg credit card debt: $3,710 (2017)
Avg mortgage debt: $243,244 (2017)
Avg student loan debt: $32,200 (2017)
New York Statute of Limitations
New York’s statute of limitations lays out maximum time periods that debt collectors can take action against a delinquent debt. These statutes of limitations begin on the date that your debt goes delinquent.
For debts taken out in New York, the following are the statutes of limitations for different types of debt.
Oral agreements: 6 years
Written contracts: 6 years
Promissory notes: 6 years
Credit cards and other revolving loans: 4-6 years
New York Debt Relief & Debt Consolidation
If you have more debt than you can pay off, Pacific Debt can help you consolidate your debt and learn to live debt free. Since 2002, we’ve settled over $200 million in debt for thousands of clients. We are a nationally top ranked debt relief company located in San Diego.
We will help you work through our proven and comprehensive debt relief program. Your certified debt relief counselor will review all your options. If debt settlement is right for you, we move forward with our debt consolidation program and work to save you money. Pacific Debt can help with most unsecured debt like credit cards, personal loans, medical bills and repossessions.
It is not an easy process and it won’t happen overnight, but you can do it. Pacific Debt will be there every step of the way to help.
New Yorkers are protected against unscrupulous debt collectors. The federal Fair Debt Collection Practices Act (FDCPA) prohibits debt collectors from using abusive or harassing bill collection practices. In addition, the New York Fair Debt Collection Practices Act (NYFDCPA) adds protections against more types of collectors and actions. If you are a victim of any of these actions, you may take legal action against them.
Overall, debt collectors can NOT:
Charges more than 10% interest
Garnish more than 25% of wages
Use/threaten physical force or criminal tactics to harm you, your property, or your reputation
Accusing you of committing a crime for not paying the debt
Make/threaten to make defamatory statements to someone else
Threaten arrest, to seize assets, or garnish wages, unless actually planning to take such action
Use obscene or profane language
Cause you to spend money you wouldn’t otherwise have spent (ie long-distance telephone calls)
Call you repeatedly or let your phone ring repeatedly
Contact your employer, except to verify employment or health insurance status, garnish wages or locate you
Reveal information about debt to anyone except your spouse or your parents if a minor.
Publicly publish your name for failing to pay
Send a postcard or letter with revealing information on the envelope
Claim to be someone other than a debt collector, including a governmental official
Use stationary that appears to be from a law firm
Charge you collection or attorney’s fees unless legally allowable
Threaten to report you to a credit reporting agency if they have no intention of doing so
Send a letter claiming to come from a claim, credit, audit, or legal department unless it actually is
Debt collectors must:
Disclose caller identification
May contact your family to locate you
Must serve you with notice of a lawsuit if suing you
Bankruptcy Court Information
Bankruptcy is a legal action that can erase most of your debt as well as your credit history. It is not an action to take lightly. If you do, you must follow the following steps in New York.
Persons filing for bankruptcy must:
Complete credit counseling within six months before filing for bankruptcy.
Complete a financial management instructional course after filing bankruptcy.
Complete a Bankruptcy Act Means Test to determine if you are eligible for a Chapter 7 or 13 bankruptcy
Itemize current income sources; major financial transactions; monthly living expenses; debts (secured and unsecured); and property (all assets and possessions, not just real estate).
Collect last 2 years of tax returns, deeds to real estate you own, car titles, and loan documents
File for bankruptcy
Chapter 7 bankruptcy fee is $306
Chapter 13 bankruptcy fee is $281
Meet with court assigned bankruptcy trustee
Attend a Meeting of Creditors
Confirm plan if filing for Chapter 13 bankruptcy
DISCLAIMER: We are not lawyers and are not giving legal advice. Before filing bankruptcy, talk to a lawyer in your state.
Pacific Debt has helped thousands of people reduce their debt. Since 2002, we’ve settled over $200 million in debt for our clients. Contact us today to see how we can help.