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September 2013 Archives

Judgments in a Bankruptcy Case

If you are currently involved in litigation or you believe a lawsuit will be filed against you soon, you may be curious how a bankruptcy filing can help. There are many issues related to filing a Chapter 7 or Chapter 13 in relation to the timing of a lawsuit, so it is important to confer with an experienced bankruptcy attorney before taking any action. The party who has filed a lawsuit against you is seeking to obtain a judgment against you. Once the creditor has received a judgment against you, the judgment can be filed which allows the creditor to get a judicial lien against any real estate you own in the State where the judgment was filed. Judicial liens are given priority according to when they are filed.  Thus, the first lien to be filed has priority over subsequently filed liens.  This means that if there are mortgages recorded before the judgment lien, the mortgages have priority.  Because the value of most houses is less than the amount owed on the mortgage, judgment liens rarely do much good. How does your bankruptcy case impact judicial liens?  Bankruptcy law permits a debtor to "avoid" a judicial lien to the extent it impairs the debtor's exemption in the property.  In other words, if you have equity in your house, you can set aside or avoid the judicial lien to the extent it impairs your exemption in the property. You can also avoid a judgment lien if there is no equity in your property. In most cases, whether you file your Chapter 7 or Chapter 13 before or after a creditor has a judgment against you, your filing can generally provide a solution for you. Of course, no two lawsuits or bankruptcy cases are identical, so it is essential to let a bankruptcy attorney review your individual situation to determine the best course of action to take. If you are interested in learning more about bankruptcy cases, contact Levitt & Slafkes, P.C. We are experienced in handling a variety of bankruptcy issues. Our offices are conveniently located in South Orange, New Jersey. Please call us at 973-323-2953 or online to schedule your free initial consultation today.

Judgments in a Bankruptcy Case

If you are currently involved in litigation or you believe a lawsuit will be filed against you soon, you may be curious how a bankruptcy filing can help. There are many issues related to filing a Chapter 7 or Chapter 13 in relation to the timing of a lawsuit, so it is important to confer with an experienced bankruptcy attorney before taking any action. The party who has filed a lawsuit against you is seeking to obtain a judgment against you. Once the creditor has received a judgment against you, the judgment can be filed which allows the creditor to get a judicial lien against any real estate you own in the State where the judgment was filed. Judicial liens are given priority according to when they are filed.  Thus, the first lien to be filed has priority over subsequently filed liens.  This means that if there are mortgages recorded before the judgment lien, the mortgages have priority.  Because the value of most houses is less than the amount owed on the mortgage, judgment liens rarely do much good. How does your bankruptcy case impact judicial liens?  Bankruptcy law permits a debtor to "avoid" a judicial lien to the extent it impairs the debtor's exemption in the property.  In other words, if you have equity in your house, you can set aside or avoid the judicial lien to the extent it impairs your exemption in the property. You can also avoid a judgment lien if there is no equity in your property. In most cases, whether you file your Chapter 7 or Chapter 13 before or after a creditor has a judgment against you, your filing can generally provide a solution for you. Of course, no two lawsuits or bankruptcy cases are identical, so it is essential to let a bankruptcy attorney review your individual situation to determine the best course of action to take. If you are interested in learning more about bankruptcy cases, contact Levitt & Slafkes, P.C. We are experienced in handling a variety of bankruptcy issues. Our offices are conveniently located in South Orange, New Jersey. Please call us at 973-323-2953 or online to schedule your free initial consultation today.

Do You Make Too Much Money To Qualify for Chapter 7?

Many people are not sure if they make too much money to file for bankruptcy protection. It can be stressful to make a decent salary but to still be overwhelmed with debt. A Chapter 7 bankruptcy allows a debtor to discharge or eliminate unsecured debt such as credit card debt, medical bills and legal bills. Whatever your financial situation, this is a huge relief to everyone! In order to qualify for a Chapter 7 filing, you must pass the "means test." This is simply a formula based on your average income over the 6 months before the case is filed compared to the state median for a family your size. If you had a higher salary in the past but recently experienced a decline, waiting a month or two before filing your case might drop your average gross income enough for you to pass the test. Even if your gross income is higher than the limits allowed, you can still pass the means test with allowable deductions. Examples of deductions include home costs, vehicle expenses and medical bills. There are many other allowable deductions, so it is important to confer with a New Jersey bankruptcy attorney to discuss your individual situation. Finally there are two groups of people who do not have to undergo the means test at all:

Do You Make Too Much Money To Qualify for Chapter 7?

Many people are not sure if they make too much money to file for bankruptcy protection. It can be stressful to make a decent salary but to still be overwhelmed with debt. A Chapter 7 bankruptcy allows a debtor to discharge or eliminate unsecured debt such as credit card debt, medical bills and legal bills. Whatever your financial situation, this is a huge relief to everyone! In order to qualify for a Chapter 7 filing, you must pass the "means test." This is simply a formula based on your average income over the 6 months before the case is filed compared to the state median for a family your size. If you had a higher salary in the past but recently experienced a decline, waiting a month or two before filing your case might drop your average gross income enough for you to pass the test. Even if your gross income is higher than the limits allowed, you can still pass the means test with allowable deductions. Examples of deductions include home costs, vehicle expenses and medical bills. There are many other allowable deductions, so it is important to confer with a New Jersey bankruptcy attorney to discuss your individual situation. Finally there are two groups of people who do not have to undergo the means test at all:

Chapter 7 Required Filings

When a debtor files for Chapter 7 bankruptcy, the New Jersey bankruptcy courts require certain specific documents to be filed with the court.  The skilled lawyers at Levitt & Slafkes can help you complete the required paperwork and ensure that your filing is done correctly.  Below is a list of some of the pleadings that will be filed in a Chapter 7 case:

Chapter 7 Required Filings

When a debtor files for Chapter 7 bankruptcy, the New Jersey bankruptcy courts require certain specific documents to be filed with the court.  The skilled lawyers at Levitt & Slafkes can help you complete the required paperwork and ensure that your filing is done correctly.  Below is a list of some of the pleadings that will be filed in a Chapter 7 case:

Garnishments & Bankruptcy in New Jersey

Garnishment is a tool used by creditors to collect money from you after they have obtained a judgment against you. Bankruptcy is a tool consumers can use to discharge or eliminate their debt. Many debtors file for bankruptcy protection as a means for stopping the garnishments pending against them. A wage garnishment occurs when a creditor serves your employer with garnishment papers which demands that your employer deduct a specified amount from all of your wages. This amount can be deducted each time you get paid until the creditor is paid in full.  If your employer fails to comply with the garnishment order, they could be held liable for the debt that is due. How does bankruptcy help with a garnishment action? As soon as you file your bankruptcy case, the automatic stay goes into effect and halts all collection efforts against you, including garnishments. As a result, you will start to receive your full paycheck again.  If the debt linked to the garnishment action is discharged in your bankruptcy case, the creditor can no longer pursue a garnishment (or any other collection action) against you. If you have a garnishment pending against you, contact a bankruptcy lawyer at Levitt & Slafkes to discuss how filing a Chapter 7 or Chapter 13 case could benefit you.  We are bankruptcy lawyers who know how to make a difference in your financial situation. We have experience you can rely on and we care about your results. Contact our New Jersey law firm online by filling out the form or by calling 973-323-2953 to schedule a free initial consultation with an attorney at Levitt & Slafkes, PC.

Garnishments & Bankruptcy in New Jersey

Garnishment is a tool used by creditors to collect money from you after they have obtained a judgment against you. Bankruptcy is a tool consumers can use to discharge or eliminate their debt. Many debtors file for bankruptcy protection as a means for stopping the garnishments pending against them. A wage garnishment occurs when a creditor serves your employer with garnishment papers which demands that your employer deduct a specified amount from all of your wages. This amount can be deducted each time you get paid until the creditor is paid in full.  If your employer fails to comply with the garnishment order, they could be held liable for the debt that is due. How does bankruptcy help with a garnishment action? As soon as you file your bankruptcy case, the automatic stay goes into effect and halts all collection efforts against you, including garnishments. As a result, you will start to receive your full paycheck again.  If the debt linked to the garnishment action is discharged in your bankruptcy case, the creditor can no longer pursue a garnishment (or any other collection action) against you. If you have a garnishment pending against you, contact a bankruptcy lawyer at Levitt & Slafkes to discuss how filing a Chapter 7 or Chapter 13 case could benefit you.  We are bankruptcy lawyers who know how to make a difference in your financial situation. We have experience you can rely on and we care about your results. Contact our New Jersey law firm online by filling out the form or by calling 973-323-2953 to schedule a free initial consultation with an attorney at Levitt & Slafkes, PC.

Active Military Members & Foreclosure Actions

We have all heard the stories of banks improperly foreclosing on homeowners and the "robo-signing" scandals. As a result, banks have been forced to re-examine foreclosures to verify that homeowners did not lose their homes as a result of falsified paperwork or other unlawful acts. The Office of the Comptroller of the Currency (OCC) has found that several banks may have improperly foreclosed on up to 5000 active members of the military.  Among others, Bank of America, Wells Fargo and Citigroup, have all confirmed that they are reviewing foreclosures involving active-duty military families to determine whether they were conducted properly. Members of the military have been hit hard by the foreclosure crisis, even without the banks illegally foreclosing on them.  According to USA Today, approximately 20,000 members of the military faced foreclosure in 2011.  The Consumer Financial Protection Bureau has been created to help ensure that military members are treated fairly by financial services companies. If you are a member of the military and facing a foreclosure, contact the legal team at Levitt & Slafkes for help. If you are interested in learning more about defending foreclosure actions, contact Levitt & Slafkes, P.C. We are also experienced in handling a variety of bankruptcy issues. Our offices are conveniently located in South Orange, New Jersey. Please call us at 973-323-2953 or online to schedule your free initial consultation today.  

Active Military Members & Foreclosure Actions

We have all heard the stories of banks improperly foreclosing on homeowners and the "robo-signing" scandals. As a result, banks have been forced to re-examine foreclosures to verify that homeowners did not lose their homes as a result of falsified paperwork or other unlawful acts. The Office of the Comptroller of the Currency (OCC) has found that several banks may have improperly foreclosed on up to 5000 active members of the military.  Among others, Bank of America, Wells Fargo and Citigroup, have all confirmed that they are reviewing foreclosures involving active-duty military families to determine whether they were conducted properly. Members of the military have been hit hard by the foreclosure crisis, even without the banks illegally foreclosing on them.  According to USA Today, approximately 20,000 members of the military faced foreclosure in 2011.  The Consumer Financial Protection Bureau has been created to help ensure that military members are treated fairly by financial services companies. If you are a member of the military and facing a foreclosure, contact the legal team at Levitt & Slafkes for help. If you are interested in learning more about defending foreclosure actions, contact Levitt & Slafkes, P.C. We are also experienced in handling a variety of bankruptcy issues. Our offices are conveniently located in South Orange, New Jersey. Please call us at 973-323-2953 or online to schedule your free initial consultation today.  

Bankruptcy & How it Impacts Your Credit Card Debt

Back to school shopping may have left you facing a pile of credit card bills. If you are struggling financially and you have a significant amount of credit card debt, it may be time to consider filing for bankruptcy protection. How does bankruptcy impact your credit card debt? Typically, this type of debt is unsecured, which means there is no collateral pledged to secure the debt. In both a Chapter 7 and Chapter 13 filing, the majority (if not all) of your unsecured debt is discharged or cancelled. The two main exceptions for credit card debt not being eliminated in your filing occur if you used the card fraudulently or if you lied to obtain the credit line. If a credit card company can establish that you incurred the charged on the credit card by fraud, the debt will not be discharged and you will remain liable to pay it. The most common type of fraud is that the debtor charged up the credit card without any intent to pay the bill.   A few examples of how fraud may be proven includes maxing out your credit limit or purchasing frivolous items, especially in the days leading up to your bankruptcy filing. Additionally, if a debtor lied on the credit application to obtain the credit card, the entire balance on the account may be non-dischargeable.  For example, if you falsely stated your income in order to get approved for the card, it is possible you will remain liable for the entire amount.  This type of challenge to discharge is not common since card issuers rarely take the time to investigate the application for fabrications, but it can happen. If you are considering filing for Chapter 7 or Chapter 13 and you are concerned about your credit card debt, be sure to discuss it with an experienced attorney at Levitt & Slafkes before you file your case. If you are interested in learning how filing a bankruptcy case can benefit you, contact Levitt & Slafkes, PC, at 973-323-2953. You can also reach us by filling out our online form. We represent debtors in Chapter 7, Chapter 13 and Chapter 11 filings. Let us help you get the fresh financial start you need today.

Bankruptcy & How it Impacts Your Credit Card Debt

Back to school shopping may have left you facing a pile of credit card bills. If you are struggling financially and you have a significant amount of credit card debt, it may be time to consider filing for bankruptcy protection. How does bankruptcy impact your credit card debt? Typically, this type of debt is unsecured, which means there is no collateral pledged to secure the debt. In both a Chapter 7 and Chapter 13 filing, the majority (if not all) of your unsecured debt is discharged or cancelled. The two main exceptions for credit card debt not being eliminated in your filing occur if you used the card fraudulently or if you lied to obtain the credit line. If a credit card company can establish that you incurred the charged on the credit card by fraud, the debt will not be discharged and you will remain liable to pay it. The most common type of fraud is that the debtor charged up the credit card without any intent to pay the bill.   A few examples of how fraud may be proven includes maxing out your credit limit or purchasing frivolous items, especially in the days leading up to your bankruptcy filing. Additionally, if a debtor lied on the credit application to obtain the credit card, the entire balance on the account may be non-dischargeable.  For example, if you falsely stated your income in order to get approved for the card, it is possible you will remain liable for the entire amount.  This type of challenge to discharge is not common since card issuers rarely take the time to investigate the application for fabrications, but it can happen. If you are considering filing for Chapter 7 or Chapter 13 and you are concerned about your credit card debt, be sure to discuss it with an experienced attorney at Levitt & Slafkes before you file your case. If you are interested in learning how filing a bankruptcy case can benefit you, contact Levitt & Slafkes, PC, at 973-323-2953. You can also reach us by filling out our online form. We represent debtors in Chapter 7, Chapter 13 and Chapter 11 filings. Let us help you get the fresh financial start you need today.

What Are the Pros and Cons of Declaring Bankruptcy?

If you are considering filing a Chapter 7 or Chapter 13 bankruptcy, it is important to understand the advantages and disadvantages. Every case is unique, so it is important to discuss your individual circumstances with a skilled bankruptcy lawyer. Below is a summary of the pros and cons of a bankruptcy filing: Pros of bankruptcy. As soon as you file your bankruptcy petition, the automatic stay immediately goes into effect and prohibits collection efforts against you. In other words, all of the harassing telephone calls stop, lawsuits come to a halt and you have a forum in which to comprehensively deal with all of your creditors at once. Additionally, many of your debts are discharged or eliminated in bankruptcy. This means that when your case successfully concludes, you are no longer liable to pay the discharged debts. This can save your thousands of dollars! Cons of bankruptcy. The primary downside to filing a bankruptcy case is the negative impact it has on your credit score. For most people, however, their credit score is already low due to past due payments and collection lawsuits. Thus, the significant benefits of filing a Chapter 7 or Chapter 13 greatly outweigh any negative impact. The legal team at Levitt & Slafkes walks you through the bankruptcy process step by step. We ensure that you are fully prepared for how your filing impacts you now and in the future. If you are interested in learning more about Chapter 7 or Chapter 13 bankruptcy cases, contact Levitt & Slafkes, P.C. We are experienced in handling a variety of bankruptcy issues. Our offices are conveniently located in South Orange, New Jersey. Please call us at 973-323-2953 or online to schedule your free initial consultation today.

What Are the Pros and Cons of Declaring Bankruptcy?

If you are considering filing a Chapter 7 or Chapter 13 bankruptcy, it is important to understand the advantages and disadvantages. Every case is unique, so it is important to discuss your individual circumstances with a skilled bankruptcy lawyer. Below is a summary of the pros and cons of a bankruptcy filing: Pros of bankruptcy. As soon as you file your bankruptcy petition, the automatic stay immediately goes into effect and prohibits collection efforts against you. In other words, all of the harassing telephone calls stop, lawsuits come to a halt and you have a forum in which to comprehensively deal with all of your creditors at once. Additionally, many of your debts are discharged or eliminated in bankruptcy. This means that when your case successfully concludes, you are no longer liable to pay the discharged debts. This can save your thousands of dollars! Cons of bankruptcy. The primary downside to filing a bankruptcy case is the negative impact it has on your credit score. For most people, however, their credit score is already low due to past due payments and collection lawsuits. Thus, the significant benefits of filing a Chapter 7 or Chapter 13 greatly outweigh any negative impact. The legal team at Levitt & Slafkes walks you through the bankruptcy process step by step. We ensure that you are fully prepared for how your filing impacts you now and in the future. If you are interested in learning more about Chapter 7 or Chapter 13 bankruptcy cases, contact Levitt & Slafkes, P.C. We are experienced in handling a variety of bankruptcy issues. Our offices are conveniently located in South Orange, New Jersey. Please call us at 973-323-2953 or online to schedule your free initial consultation today.

Do You Really Need a Lawyer to Handle Your Loan Modification?

Some consumers believe they can handle their mortgage loan modification without the assistance of an attorney. While it is possible, it is extremely difficult. Dealing with mortgage-holders is not easy. Having a lawyer on your side can significantly increase your chances of a successful outcome. At Levitt & Slafkes, we assist you with: Obtaining a lower rate of interest charged Re-amortizing the loan to include any past due payments Having interest and fees waived Reducing your loan balance Fixing your mortgage if it is an adjustable interest rate loan Lowering your total mortgage payment If your lender is unwilling to negotiate with you, our attorneys are qualified trial attorneys that can provide a strong foreclosure defense in your lawsuit.  We also understand that solving one problem may not help a client who still has several other money troubles, so we provide personal bankruptcy  representation if necessary. Whatever debt relief option you need, we are fully prepared to assist you. We are bankruptcy lawyers who know how to make a difference in your financial situation. We have experience you can rely on and we care about your results. Contact our New Jersey law firm online by filling out the form or by calling 973-323-2953 to schedule a free initial consultation with an attorney at Levitt & Slafkes, PC.

Do You Really Need a Lawyer to Handle Your Loan Modification?

Some consumers believe they can handle their mortgage loan modification without the assistance of an attorney. While it is possible, it is extremely difficult. Dealing with mortgage-holders is not easy. Having a lawyer on your side can significantly increase your chances of a successful outcome. At Levitt & Slafkes, we assist you with: Obtaining a lower rate of interest charged Re-amortizing the loan to include any past due payments Having interest and fees waived Reducing your loan balance Fixing your mortgage if it is an adjustable interest rate loan Lowering your total mortgage payment If your lender is unwilling to negotiate with you, our attorneys are qualified trial attorneys that can provide a strong foreclosure defense in your lawsuit.  We also understand that solving one problem may not help a client who still has several other money troubles, so we provide personal bankruptcy  representation if necessary. Whatever debt relief option you need, we are fully prepared to assist you. We are bankruptcy lawyers who know how to make a difference in your financial situation. We have experience you can rely on and we care about your results. Contact our New Jersey law firm online by filling out the form or by calling 973-323-2953 to schedule a free initial consultation with an attorney at Levitt & Slafkes, PC.

Bankruptcy & Firearms in New Jersey

When you file a bankruptcy case, you are required to disclose all of your assets. Guns are considered an asset. A firearm may be a tool of your trade, an investment, used for personal protection or as a hobby. Thus, when you schedule your guns in your bankruptcy filing, it is important to understand how they will be treated in your case. There are several exemptions which a debtor can claim to remove the guns from the bankruptcy and allow the debtor to keep them. Below are the applicable federal exemptions: 11 U.S.C. § 522(d)(5): $1,150.00, which is the federal catch-all exemption and may be applied to any personal property owned by the debtor; 11 U.S.C. § 522(d)(5): Up to $10,825.00 of unused home equity not already exempted under 11 U.S.C. § 522(d)(1); 11 U.S.C. § 522(d)(6): $2,175.00 for tools and equipment used in business. For this exemption to be applicable, the debtor must establish that the firearms are necessary for the debtor's trade, employment or business. New Jersey does not offer an exemption for tools of the trade and there is no "wild card" exemption. Thus, many New Jersey debtors opt to use the applicable federal exemptions to protect their firearms. If you own firearms and you are considering filing for bankruptcy protection, contact Levitt & Slafkes for help. We are bankruptcy lawyers who know how to make a difference in your financial situation. We have experience you can rely on and we care about your results. Contact our New Jersey law firm online by filling out the form or by calling 973-323-2953 to schedule a free initial consultation with an attorney at Levitt & Slafkes, PC.  

Bankruptcy & Firearms in New Jersey

When you file a bankruptcy case, you are required to disclose all of your assets. Guns are considered an asset. A firearm may be a tool of your trade, an investment, used for personal protection or as a hobby. Thus, when you schedule your guns in your bankruptcy filing, it is important to understand how they will be treated in your case. There are several exemptions which a debtor can claim to remove the guns from the bankruptcy and allow the debtor to keep them. Below are the applicable federal exemptions: 11 U.S.C. § 522(d)(5): $1,150.00, which is the federal catch-all exemption and may be applied to any personal property owned by the debtor; 11 U.S.C. § 522(d)(5): Up to $10,825.00 of unused home equity not already exempted under 11 U.S.C. § 522(d)(1); 11 U.S.C. § 522(d)(6): $2,175.00 for tools and equipment used in business. For this exemption to be applicable, the debtor must establish that the firearms are necessary for the debtor's trade, employment or business. New Jersey does not offer an exemption for tools of the trade and there is no "wild card" exemption. Thus, many New Jersey debtors opt to use the applicable federal exemptions to protect their firearms. If you own firearms and you are considering filing for bankruptcy protection, contact Levitt & Slafkes for help. We are bankruptcy lawyers who know how to make a difference in your financial situation. We have experience you can rely on and we care about your results. Contact our New Jersey law firm online by filling out the form or by calling 973-323-2953 to schedule a free initial consultation with an attorney at Levitt & Slafkes, PC.  

Effective Defenses to a Foreclosure Lawsuit

When you work with Levitt & Slafkes to defend you in a foreclosure lawsuit, you can be confident that we use every resource available to protect your home. Below are 7 ways to effectively fight a foreclosure action: Failure to have proper documentation. It is important that every homeowner make the mortgage-holder prove that they own the mortgage. If your loan has been assigned several times, it is possible the plaintiff does not have the proper documents to prove they have standing to sue you. Unconscionable mortgage terms. If the terms of your mortgage, or the circumstances surrounding it, are so unfair that they "shock the conscience of the judge," you have a valid defense to your foreclosure action. Foreclosing party failed to follow state procedures. Every state has certain strict procedures that must be followed in bringing a foreclosure action. If the plaintiff fails to abide by them, the case against you may be dismissed. Unfair lending practices. You may be able to fight your foreclosure by proving that your lender violated a federal or state law designed to protect borrowers from illegal lending practices. You are a service-member on active duty. If you're on active military duty, the Service members Civil Relief Act (SCRA) provides you with special protections, including the requirement that your foreclosure take place in court if you took the mortgage out before you were on active duty. Short sales or mortgage loan modification. There are alternatives to foreclosure such as a short sale or mortgage loan modification . These alternatives allow the lender to obtain payments without the time and expense of a foreclosure action. There are a number of different options available to fight back against foreclosure and it is critical to choose the right one for your circumstances. During your free consultation, attorneys Bruce Levitt and Shelley Slafkes will carefully explain all of your options so you can make an informed decision about how to best  proceed. Contact us today at 973-323-2953 to schedule a free initial consultation with a compassionate and knowledgeable lawyer.

Effective Defenses to a Foreclosure Lawsuit

When you work with Levitt & Slafkes to defend you in a foreclosure lawsuit, you can be confident that we use every resource available to protect your home. Below are 7 ways to effectively fight a foreclosure action: Failure to have proper documentation. It is important that every homeowner make the mortgage-holder prove that they own the mortgage. If your loan has been assigned several times, it is possible the plaintiff does not have the proper documents to prove they have standing to sue you. Unconscionable mortgage terms. If the terms of your mortgage, or the circumstances surrounding it, are so unfair that they "shock the conscience of the judge," you have a valid defense to your foreclosure action. Foreclosing party failed to follow state procedures. Every state has certain strict procedures that must be followed in bringing a foreclosure action. If the plaintiff fails to abide by them, the case against you may be dismissed. Unfair lending practices. You may be able to fight your foreclosure by proving that your lender violated a federal or state law designed to protect borrowers from illegal lending practices. You are a service-member on active duty. If you're on active military duty, the Service members Civil Relief Act (SCRA) provides you with special protections, including the requirement that your foreclosure take place in court if you took the mortgage out before you were on active duty. Short sales or mortgage loan modification. There are alternatives to foreclosure such as a short sale or mortgage loan modification . These alternatives allow the lender to obtain payments without the time and expense of a foreclosure action. There are a number of different options available to fight back against foreclosure and it is critical to choose the right one for your circumstances. During your free consultation, attorneys Bruce Levitt and Shelley Slafkes will carefully explain all of your options so you can make an informed decision about how to best  proceed. Contact us today at 973-323-2953 to schedule a free initial consultation with a compassionate and knowledgeable lawyer.

Answering Your Questions About Chapter 7 Bankruptcy

Chapter 7 cases are the most common type of personal bankruptcy filings. As experienced bankruptcy attorneys, we are here to answer your questions and guide you through the bankruptcy process. Below are a few questions we commonly get about Chapter 7 cases: Who should file for Chapter 7? Anyone who is struggling to make ends meet should consider this type of filing. A Chapter 7 is especially beneficial if you have significant unsecured debt (such as credit cards and medical bills), you don't own a lot of non-exempt property, you are being harassed by creditors and you already have a low credit score. How long does a Chapter 7 case take? Every bankruptcy case is different, but most Chapter 7 cases take 4 to 6 months. You may think this is a long time, but it is one of the quickest means for obtaining comprehensive debt relief. What assets can a Chapter 7 debtor keep? Chapter 7 debtors are able to keep the majority (if not all) of their assets in a Chapter 7 filing. It is important to discuss this matter with your debt relief attorney  before you file your case. If you are considering filing a Chapter 7 bankruptcy, contact Levitt & Slafkes to learn more. We are happy to answer your questions and explain how a bankruptcy filing can benefit you. If you are interested in learning how filing a bankruptcy case can benefit you, contact Levitt & Slafkes, PC, at 973-323-2953. You can also reach us by filling out our online form. We represent debtors in Chapter 7, Chapter 13 and Chapter 11 filings. Let us help you get the fresh financial start you need today.  

Answering Your Questions About Chapter 7 Bankruptcy

Chapter 7 cases are the most common type of personal bankruptcy filings. As experienced bankruptcy attorneys, we are here to answer your questions and guide you through the bankruptcy process. Below are a few questions we commonly get about Chapter 7 cases: Who should file for Chapter 7? Anyone who is struggling to make ends meet should consider this type of filing. A Chapter 7 is especially beneficial if you have significant unsecured debt (such as credit cards and medical bills), you don't own a lot of non-exempt property, you are being harassed by creditors and you already have a low credit score. How long does a Chapter 7 case take? Every bankruptcy case is different, but most Chapter 7 cases take 4 to 6 months. You may think this is a long time, but it is one of the quickest means for obtaining comprehensive debt relief. What assets can a Chapter 7 debtor keep? Chapter 7 debtors are able to keep the majority (if not all) of their assets in a Chapter 7 filing. It is important to discuss this matter with your debt relief attorney  before you file your case. If you are considering filing a Chapter 7 bankruptcy, contact Levitt & Slafkes to learn more. We are happy to answer your questions and explain how a bankruptcy filing can benefit you. If you are interested in learning how filing a bankruptcy case can benefit you, contact Levitt & Slafkes, PC, at 973-323-2953. You can also reach us by filling out our online form. We represent debtors in Chapter 7, Chapter 13 and Chapter 11 filings. Let us help you get the fresh financial start you need today.  

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