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Levitt & Slafkes, P.C. - Essex County Bankruptcy Attorneys

Get The Fresh Start You Deserve

Levitt & Slafkes, P.C. - Essex County Bankruptcy Attorneys
GET THE FRESH START YOU DESERVE

PLEASE NOTE: To protect your safety in response to the threats of COVID-19, we are offering our clients the ability to meet with us virtually. Please call our office to discuss your options.

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Bankruptcy &
Debt Relief For
Individuals and
Businesses

Chapters 7, 11
and 13

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Foreclosure
Defense &
Mortgage
Litigation

Saving Homes
Fighting Banks

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Loan
Modifications

Preventing
Foreclosure

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Commercial and 
Bankruptcy
Litigation

State Federal &
Bankruptcy Court

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Bankruptcy & Debt Relief For
Individuals and Businesses

Chapters 7, 11 and 13

Find Out
More

Foreclosure Defense &
Mortgage Litigation

Saving Homes Fighting Banks

Find Out
More

Loan Modifications

Preventing Foreclosure

Find Out
More

Commercial and Bankruptcy
Litigation

State Federal &
Bankruptcy Court

Find Out
More

5 Important Tips for Preparing for Bankruptcy

| Feb 20, 2016 | Bankruptcy Basics |

If you are facing overwhelming amounts of debt and you are not sure what debt relief options are available to you, let us help. Bankruptcy is not the only way you can deal with your debt, especially if you seek help before your financial situation gets beyond repair. We can help you explore options such as loan modifications, debt settlements, and fighting collection actions.

How do you know if filing Chapter 7 or Chapter 13 is the best option for you? There are many factors that we will consider in reviewing your unique situation. Below are a few examples of when a personal bankruptcy filing is warranted:

· You have collection lawsuits being filed against you

· Your wages and/or bank account is being garnished

· You have secured creditors threatening to seize assets

· You are being harassed by debt collectors

· Your mortgage lender is threatening foreclosure

If you decide you are ready to seek debt relief in bankruptcy, below are five tips for preparing for your filing:

1. Review and understand your financial situation. You should assess your income, expenses and total amount of debt. You should pin point what caused your financial distress and what you can do to avoid financial struggles in the future.

2. It is imperative that you list all of your debt and everyone that you owe money to in your bankruptcy case. Thus, you should prepare a list of your debts including medical debts and those that no longer have collection activity on them.

3. All individual debtors are required to complete a pre-bankruptcy financial counseling course which can be done online. You should obtain your credit counseling certificate from a court-approved, certified provider as soon as possible. The Certificate is good for 6 months so don’t postpone getting it done..

4. Retain an experienced bankruptcy attorney sooner than later. Having a lawyer walk you through the Chapter 7 or Chapter 13 process can be the difference between making your financial problems worse and obtaining the fresh financial start you so desperately need.

5. Don’t checkout of your case once your attorney is involved. It is important that you communicate with your lawyer and actively participate in your case. Although your lawyer will do most of the work in your filing, he or she must have your assistance in order to obtain a successful result.

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If you are interested in learning how filing a bankruptcy case can benefit you, contact Levitt & Slafkes, P.C., 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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