So many people that I meet with and who file bankruptcy simple have no idea what bankruptcy is all about before they have met with me. Once they learn about all of the benefits, and there are so few negatives, they always say they wish they would have done this a lot sooner. The Law Offices of Patel, Soltis & Cardenas provide bankruptcy, foreclosure and loan modification representation to clients throughout the State of New Jersey and New York area with offices in Jersey City, Freehold, Hackensack, Manhattan, and Brooklyn.
The advantages to filing Chapter 7 are that the trustee will administer the dissolution of the company and payment of creditors, and will ensure that creditors are paid in the correct priority; this eliminates the claim that the officers did not pay debtors properly.
Other types of debt relief include creditor workouts where a payment agreement is worked out with creditors and where the monthly payments are radically reduced, or the possibility Foreclosure attorney new jersey of applying for a mortgage loan modification The most important action to take is to contact a competent attorney to discuss your situation, and get the help you so badly need.
Had they known all the benefits of bankruptcy, they could have filed six months or a year ago, instead of having wasted a lot of money on debt consolidation or having paid bills that it could have been easily wiped out along time ago by filing for bankruptcy sooner.
To avoid foreclosure, pay off arrears on your home, avoid garnishments and other legal proceedings, to discharge judgments from other courts, to avoid excessive tax repayment schedules, to maintain your business or to wind down your business, student loans are an undue hardship, a reprieve from credit card repayments at excessive interest rates or to have a FRESH START.
If you are married and your spouse lives with you, your spouses income is included in the bankruptcy to determine if you qualify for a chapter 7 or if you have to make a payment plan under a chapter 13 bankruptcy, however your spouse DOES NOT have to file with you.
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