Thinking about Filing Bankruptcy? Need to Stop Foreclosure in New Jersey?

New Jersey Bankruptcy Law Firm Offers Debt Relief Services

NJ bankruptcy lawyer focuses on Chapter 7 and 13, foreclosure, business debt, offer in compromise and loan workouts in Morris, Sussex and Union County.

Every year more than a million people file for bankruptcy. Regrettably, debt is not an easy problem to solve, especially if you are facing large debts you cannot repay. Calls from creditors, debt collection agencies and the looming threat of foreclosure on your home can make you feel stressed. Some people feel their debt is so insurmountable and that they have nowhere to turn. However, whatever issues you may be facing, our New Jersey bankruptcy law firm can help you examine your alternatives. Our law firm can explain alternatives you may have for debt relief. A free initial consultation is the first step to a happier, debt-free future.

Odds are that you never expected to consider filing a bankruptcy and that your debt problems are not the result of reckless spending. Generally, debt problems that cause people to file for bankruptcy protection is based upon a catastrophic event that happens–job loss, reduce income, divorce, medical problems, business failure. At Ast & Schmidt, P.C., we know that most people are fiscally responsible. That is why we passionately help individuals achieve their goals of debt relief in their bankruptcy case. With our experience in Chapter 7 and Chapter 13 bankruptcy, we can identify what options work for you. Working together, we can resolve your debt problems and help you move on with your life.

Should I File for Bankruptcy?

If you are struggling with debt that is spiraling out of control, then you should consider talking to a bankruptcy attorney. Through Chapter 7 or Chapter 13 bankruptcy, you can gain credit card, medical bills and some tax debt relief. Generally, Chapter 7 bankruptcy involves retaining your exempt assets and obtaining a discharge of debts in three to four months from filing with no payment to a trustee or your unsecured creditors. By contract, Chapter 13 bankruptcy usually takes three to five years, but involves a monthly payment to the trustee. Usually, people take one of these routes when their debt is unmanageable. Bankruptcy allows a path to move forward with a clean slate and fresh start. With a skillful and creative legal team, you can use bankruptcy to help you achieve your goal of reduced stress and a fresh start.

If you feel your debt is taking control of your life, then you may want to consider bankruptcy or another form of debt resolution. While it will have an effect on your credit, it will not be permanent. Our bankruptcy law firm may help put a stop to auto repossession and wage garnishment. We may also help you prevent the loss of your home, discharge your unsecured debts and prevent further collection efforts.

Even if bankruptcy is not right for your situation, other debt relief options may help. Whether you are a student facing loan debts or a business owner with multiple assets, we can help you explore your alternatives.

How Can Bankruptcy Help Me?

It may be possible to relieve all or most of your debt through bankruptcy. If you decide to proceed with a bankruptcy, then we can help you make the right decisions on when to file and which type to file. By understanding your debts, assets and goals, we can help you determine which path to take. After deciding on a bankruptcy process, our firm will help you prepare and file all of the required documents with the Bankruptcy Court and submit all of the required documents to the trustee.

Our services involve:

  • Chapter 7 bankruptcy: This type wipes out most of your unsecured debts , sometimes all, of your debts. Through claimed exemptions, we seek to protect property like your equity in your home, car, pensions or personal belongings. Chapter 7 bankruptcy is a good option for individuals that do not have non-exempt assets.
  • Chapter 13 bankruptcy: By reorganizing your debts, you can use your regular income to initiate a repayment plan. This type of bankruptcy is a good option for individuals who have assets beyond exemptions that they want to keep, a mortgage problem, or where chapter 7 does not provide enough long-term protection.
  • Stopping foreclosure: Even if you have received a notice of sheriff’s sale, our bankruptcy lawyers can help you stop a foreclosure. The Bankruptcy Court as a Loss Mitigation Program designed to help borrowers modify their mortgages and keep their home.
  • Debt negotiation and settlement: A final decision on handling your debt can be stressful. Through our counsel, we seek to reach a favorable settlement with your creditors without filing a bankruptcy.
  • IRS offer in compromise and installment payment plans: It may be possible to settle a tax debt for less than the full amount owed or make an affordable monthly payment. Eligible taxpayers can use tools to create a path toward paying off their debt.
  • Commercial loan workouts: Loan terms and amounts may be reduced or modified through a commercial loan modification. Our firm has services designed specifically to assist businesses with loan workouts.
  • Debt relief for high income earners. Special considerations are necessary for bankruptcy involving people with high incomes. We can help you explore your options.

Uncontrollable Debt? Call Our Morris County Bankruptcy Law Firm Now

Nobody wants to consider bankruptcy. Sometimes people feel that exploring debt relief options is admitting failure. However, bankruptcy is sometimes the best way to get your finances back on track and proceed with your life without the burden of the past debts. If you are full of uncertainty and confused by complicated procedures, then our team can bring clarity. You do not need to deal with the stressful experience of debt alone. Our Morristown NJ bankruptcy lawyer can answer your bankruptcy questions. From start to finish, we help you understand your alternatives for debt relief, help you decide which alternative is best for you and help get you through this complicated process

At Ast & Schmidt, P.C., we assist people across New Jersey in getting back on the right financial path. We have the qualifications you need to relieve your debt. Whether you are an individual, family or business, we can help. Our staff listens to your goals and concerns so we can help you move on with a fresh start. Serving Union County, Passaic County, Essex County as well as cities in and around these counties. Contact us online or call our office at (973) 984-1300 to schedule a free consultation.