New York Debt Has Spiraled Out of Control but Many Are Now Winning the Debt War

Jun 08, 2010, 14:37 ET from Morgan Drexen, Inc.

LOS ANGELES, June 8 /PRNewswire/ -- Economists claim that the first quarter of 2010 has improved at a slower rate than expected yet debt settlements are on the rise.

Becoming debt free for many struggling families has finally become a reality.  Debt settlement is a dirty word but in a vulnerable economic environment there are evolving competitive alternatives to debt settlement companies that are bringing strong results.

The northeast in particular is dealing with enormous debt and although the people of New York, New Jersey, Ohio and South Carolina know how to blow through their cash, they are also among some of the highest regions in completing debt settlement programs.

Morgan Drexen, Inc. (MD) is one such evolving company that provides support for attorneys who assist people facing bankruptcy. New Jersey attorney Milton Bouhoutos says, "In recent years debt has spiraled for many families with the economy forcing many out of permanent work." He also admits that having help with all the paperwork allows him to spend more time helping clients who would have otherwise struggled to afford an attorney. MD provides the administrative support to Mr. Bouhoutos.

The attorneys using this legal support service provided by MD are proving to be successful, since January 2010 there has been more than $44 million in debt settled for just over $17 million relieving hundreds of families of debt. These really are numbers worth talking about. MD operates an alternative to debt settlement through a safe and reliable platform providing integrated support for attorneys representing Consumers.

Debt settlement is not a one size fits all solution but it's the only process to prevent the scar of bankruptcy but for many people throughout the US.

There is a statistical graph available with this release.

SOURCE Morgan Drexen, Inc.