Call us Today to Set Up A
Free Case Evaluation
Levitt & Slafkes, P.C.
Get The Fresh Start You Deserve
973-323-2953
Se Habla EspaƑol
View Our Practice Areas

Essex County Bankruptcy Blog

New Jersey Homeowners: What is a Notice of Intent to Foreclose?

New Jersey Homeowners What is a Notice of Intent to Foreclose.jpgIf your home is being foreclosed on, chances are this is a financial issue that has been building for a while. While the foreclosure process is one that may drag out over a long period of time, eventually the foreclosure notices will begin to arrive. This may be an extremely stressful time for you, but it is imperative that you are educated on what happens in the foreclosure process so that you know how to move forward. Having an experienced foreclosure defense attorney on your side will be invaluable so that you know what to expect and have a good defense should that be required.

How Many Times Can I File for Bankruptcy?

How Many Times Can I file for Bankruptcy.jpgThe goal behind filing for bankruptcy is to pave a new financial path for yourself, free of debt. The stories behind bankruptcy vary, however, and are often the result of unexpected, even catastrophic events. And just because something happens once, unfortunately, does not mean it can't happen again.

Bankruptcy: What is the Means Test--And What if I Don't Pass?

Bankruptcy What is the Means Test.jpgFiling for bankruptcy is a major step, and probably not something you ever wanted to do. You may have been in a major accident, or you or a family member may have experienced an extended illness that resulted in insurmountable medical bills. Budgets may have been cut at work, or you may have found yourself out of a job altogether. Often, there are other accompanying factors too, like divorce, overuse of credit card due to lack of income, and more.

CONSUMER FINANCIAL PROTECTION BUREAU SUES OCWEN FOR "FAILING BORROWERS AT EVERY STAGE OF THE SERVICING PROCESS"

Ocwen Misconduct.jpgIn late April of 2017, the Consumer Financial Protection Bureau (CFPB) sued Ocwen Financial Corporation over allegations of widespread misconduct in how it serviced borrowers' loans.

The Hail Mary: Filing for Bankruptcy to Save Your Home

The Hail Mary Filing for Bankruptcy to Save Your Home.jpgIf you are in a serious financial crisis, it may seem like every part of your life has been affected in a negative way. Your options-as well as your future-may suddenly seem terribly constricted. You may feel very alone, and as if you can't talk to anyone about these problems, sometimes even including your own family. If you reach out for help though, you may be quite amazed at the positive results-and tremendous relief-you can achieve.

Unable to Pay the Mortgage: What Happens if I just Walk Away?

unable to pay the.jpgThe threat of foreclosure does not happen overnight. For most homeowners in distress, payments have been late for at least several months-and possibly more. A loss of income is usually the cause, due to a life event that was almost certainly unexpected and even catastrophic in nature. Medical bills and illness may have completely turned your life upside down, and may have been coupled with the inability to work. With other outstanding debts like credit cards, student loans, and more, suddenly it may be impossible to make ends meet-and especially if other major issues arise such as divorce or unemployment.

The Cramdown: Lowering Your Car Payment in Bankruptcy

Lowering_Your_Car_Payment_in_Bankruptcy.jpg
Property is often one of the main concerns in bankruptcy. The potential loss of your home or car may become a central focus, as well as the deciding factor in whether you file for Chapter 7 or Chapter 13 bankruptcy. While Chapter 7 is generally considered the liquidation bankruptcy, you can still usually keep your car and home as exempt items and continue to pay on them. In Chapter 13, there is generally no question about keeping your property as it is reorganized into a larger repayment plan overall with debts paid off in three to five years. You may also be able to negotiate better payouts overall, with the cramdown serving as a perfect example.

CAN A LENDER FORECLOSE WHILE A LOAN MODIFICATION APPLICATION IS PENDING?

  can a lender foreclose-thumb-300x200-87706.jpgThe home is where the heart is, often filled with many of our life's memories as well as offering a treasured place of comfort and security. When that becomes threatened, you may find yourself exploring and exhausting every option before giving in to foreclosure.

How Bankruptcy Stops Creditor Harassment

how bankruptcy stops creditor-thumb-300x449-86351.jpg

If you have decided to file for bankruptcy, most likely you've been under financial duress for months now, or maybe even years. Medical debt is usually the number one reason given for filing bankruptcy, whether in Chapter 7 or Chapter 13. Unemployment comes in as a close second. You may also have suffered through a difficult and financially draining divorce, or perhaps you are struggling due to a hefty student loan payment that is due each month. Whether one or more of these unexpected events hit you hard, they are probably accompanied by escalating credit-card debt as well.

Our bankruptcy attorneys will help you escape debt and
face the future with optimism.

Email Us For A Response

Begin Your New
Financial Life
Today

Office Location

Levitt & Slafkes, P.C.
515 Valley Street
Suite 140
Maplewood, NJ 07040

Phone: 973-323-2953
Fax: 973-313-1240
Map & Directions

google map