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.
If you are facing foreclosure of your home, it is important to educate yourself about the New Jersey Foreclosure Mediation Program. Several government agencies have combined their efforts to find solutions to the overwhelming number of foreclosure cases in the state. The program focuses on promoting work-out and payment arrangements negotiated between the struggling borrower and his or her lender.
Many people file for bankruptcy protection because they need relief from their creditors. A personal bankruptcy filing can be shelter from the harassing collection efforts of debt collectors. However, while rare, it is possible for a lawsuit to be filed against you in your bankruptcy case. This type of action is commonly referred to as an "adversary proceeding."
The U.S. District Court for the District of New Jersey recently held in Lewis v. Portfolio Recovery Associates, LLC, that a debtor's failure to list a lawsuit as an asset of his bankruptcy estate resulted in his loss of the right to claim violations of the federal Fair Debt Collection Practices Act (FDCPA) and the New Jersey Truth in Consumer Contract Warranty and Notice Act (TCCWNA).
Most people understand that when they file for bankruptcy, they are provided financial protection. However, what is not as well-known is the fact that a debtor's co-signors can also be protected in certain circumstances.