Bankruptcy can be a fresh start for you. It can enable you/debtors to wipe out all of your general, unsecured debt (usually credit cards, personal loans, medical bills etc.) and potentially all of your under-secured, secured debts (mortgages and other liens which are underwater), and start over again financially without any debt (the bankruptcy “fresh start”).
Filing for bankruptcy is not as uncommon as you may think. In fact, in 2010 almost as many people in the U.S. filed for personal bankruptcy protection (approximately 1.5 million) than graduated 4-year colleges and universities in the United States. You undoubtedly know someone who received a fresh start after filing for bankruptcy relief. It has always and continues to provide folks from all walks of life who have fallen on hard times a fresh start.
Filing for bankruptcy relief will put those harassing calls, letters and lawsuits by your creditors, along with the headaches and worries they bring, to an end.
If you are in a situation where you have defaulted on one or more of your credit card or other bills, and you cannot see a way to catching up on them in the near or foreseeable future, bankruptcy may be the best solution and certainly is an option you should consider.
By paying the minimum monthly payment on most credit cards it would take approximately 22 years to pay off the debt. In most cases, for the amount that a single debtor or joint debtors (husband and wife) pay for their debts every month, MOST good faith debtor(s) qualify to be forever free from their debt. If you are at risk of losing your home, if you are facing lawsuits by your creditors, are laden with credit card, medical bills or other forms of unsecured debt that you do not know how to handle, it is time to consider bankruptcy as a debt relief option.
There are three types of bankruptcy - Chapter 7, Chapter 11, and Chapter 13. Personal Bankruptcy almost always falls under Chapter 7 or Chapter 13. Mr. Alster will meet with you personally to explain the details of the bankruptcy process and provide you with answers to all of your questions. Together we will first assure that you qualify for Chapter 7 or 13 protection, (or in rare circumstances Chapter 11 protection), and then determine which Chapter, 7 or 13, is most appropriate and advantageous for you.
These are hard times for a lot of people across America. Many people are finding out that they do not have the means to pay for the debt that they have accumulated. Even without the devastating financial consequences of the COVID 19 virus, unexpected events such as sudden job loss, an illness, or an injury, regularly cause extenuating circumstances to good faith, debtors who do not have the savings to be able to handle debts caused by these situations.
If you’re a small business owner, the Cares Act amendments to the small business reorganization act of 2019 can still make matters easier on you and your family. Please refer to our Bankruptcy Specific Covid-19 and CARES Act page for more detailed information about how the CARES Act may affect your current financial situation.
“Marc Alster achieved a result that others said was impossible.” - B.S.
“With your help I am now the proud owner of a new home and able to save for my retirement” - J.H.
“with your support I was able to re-gain my financial life” - L.G.
Bankruptcy is only one of the available debt relief solutions, there may be other debt relief remedies that may be available and be perhaps preferable to debtors. Although many individuals may discover that the bankruptcy laws enacted by the federal government will save them from financial ruin and give them a fresh start, there are other cases in which bankruptcy may not the best and certainly not the only legal option. Other types of debt relief include creditor workouts is where a payment agreement is worked out with creditors and where either the amount of the debt or the monthly payments are radically reduced. The possibility of applying for a mortgage loan modification may also be preferable to filing for Chapter 13 bankruptcy relief. The most important action to take is to contact a competent attorney to discuss your situation, and get the help you so badly need. After a personal review of your situation, Mr. Alster can advise you as to what can be done to end the stress and worry that comes with overwhelming debt.
The Law Offices of Marc G. Alster offers a free initial consultation to assist you in determining the best way to achieve debt relief for you and your family. When you are no longer able to pay your reasonable household expenses and make regular payments to your creditors, it is crucial to get legal advice from a skilled debt relief attorney as early as possible. Should bankruptcy not be a viable option, Mr. Alster will discuss other alternatives to bankruptcy with you. It is important to realize that when individuals are represented by an experienced bankruptcy attorney, creditor(s) often become more interested in working out a solution. Mr. Alster is a seasoned bankruptcy attorney who can often negotiate favorable settlements with creditors in lieu of bankruptcy, if that is the more appropriate option the clients might decide on.
Case Summary - What Happens When a Chapter 13 Debtor Inherits Significant Assets Post 180 Days After Filing a Ch. 13 Case?
Death of a Chapter 13 Debtor Prior to Plan Completion
Chapter 13 Secured & Unsecured Debt Limits as of June 21, 2022
What Happens When a Chapter 13 Debtor Inherits Significant Assets During the Pendency of a Chapter 13 Case?
Chapter 13 Debtor's Death Prior to Plan Completion
Mortgage Forbearance and Deferments (After Expiration Of CARES Act)
Creditor Workouts With Secured Lenders
Foreclosure Defense - Hard Money Lenders Recent Case Outcome
Significant personal injury cases including medical malpractice and wrongful death in the states of New Jersey, New York.
In addition to handling numerous personal injury, medical malpractice cases in New Jersey and New York earlier in his career, Mr. Alster has developed a close working relationships with the top personal injury law firms and individual attorneys, specializing in all types of personal injury cases, including but not limited to medical malpractice, wrongful death, products liability and slip and fall cases in the states of New Jersey, New York and Pennsylvania. Mr. Alster continues to act as co-counsel in a number of significant personal injury lawsuits with anyone of a number of several top personal injury firms/attorneys in New Jersey, New York and Pennsylvania. Choosing the correct lawyer and law firm to act as co-counsel and lead counsel assures the injured client of receiving the best possible results, which can differ depending on whether the correct lawyer/lawyers have been chosen; I have seen actual and projected recoveries vary from a $5000 to a $50,000 recovery, a $50,000 to a $500,000 recovery or in some cases from no recovery to $1 million recovery or greater.
Whether handling a personal injury case himself or co-counseling to prosecute the case, the injured client receives the best possible results and service while paying the same percentage of the total amount recovered; that is the client’s personal injury legal fees are always based on the same percentage of the total amount received through a settlement and/or jury verdict in the client's favor, and are never greater than what they would be if Mr. Alster chose to prosecute the client's case alone.
While Mr. Alster assumes responsibilities and handles all New Jersey and New York individual Chapter 7 and Chapter 13 cases by himself, Mr. Alster also works with top Chapter 11 bankruptcy attorneys in New York and New Jersey on both business cases and high debt individual cases which cannot qualify for Chapter 13 protection.
No Chapter 7 client has ever involuntarily lost a single asset directly to a creditor through the bankruptcy process. Read Client Reviews<
The Law Offices of Marc G. Alster is not a high volume "bankruptcy mill." You will never be "just another client" when dealing with The Law Offices of Marc G. Alster. Mr. Alster and his experienced staff take a very personal approach with each client. Mr. Alster, a skilled practitioner who, for over 30 years, has been providing each client with a personal and thorough evaluation of their particular situation. The best strategy for solving each client's financial burden is determined, and a specific plan that best suits the client's situation will be promptly put into action. Mr. Alster carefully selects which clients he represents. His case load is managed to assure that the personal attention provided to each client is not compromised. Individuals referred to the Law Offices of Marc G. Alster through our website are offered a free and thorough evaluation of their financial circumstances. Do not take chances with your financial future. You should not make any serious decisions until you have met with an experienced bankruptcy attorney. If you are experiencing financial stress, we certainly hope you will contact the Law Offices of Marc G. Alster without further delay.
All northern and central New Jersey Counties and the following counties in New York: Rockland, Westchester, Orange, Putnam, Ulster, New York, Sullivan, Kings, Queens, Bronx
New Jersey Counties:
Bergen, Passaic, Hudson, Essex, Union, Warren, Sussex, Morris, Middlesex, Somerset, Monmouth and Mercer
New York Counties:
Rockland, Westchester, New York, Kings, Queens, and Bronx, Orange, Sullivan, Ulster and Putnam.
Allendale, Alpine, Bergenfield, Bogota, Carlstadt, Cliffside Park, Closter, Cresskill, Demarest, Dumont, East Rutherford, Edgewater, Elmwood Park, Emerson, Englewood, Englewood Cliffs, Fair Lawn, Fairview, Fort Lee, Franklin Lakes, Garfield, Glen Rock, Hackensack, Harrington Park, Hasbrouck Heights, Haworth, Hillsdale, Ho Ho Kus, Leonia, Little Ferry, Lodi, Lyndhurst, Mahwah, Maywood, Midland Park, Montvale, Moonachie, New Milford, North Arlington, Northvale, Norwood, Oakland, Old Tappan, Oradell, Palisades Park, Paramus, Park Ridge, Ramsey, Ridgefield, Ridgefield Park, Ridgewood, River Edge, River Vale, Rochelle Park, Rockleigh, Rutherford, Saddle Brook, Saddle River, South Hackensack, Teaneck, Tenafly, Teterboro, Upper Saddle River, Waldwick, Wallington, Washington Township, Westwood, Woodcliff Lake, Wood-Ridge, Wyckoff.
Patterson, West Patterson, Clifton, Passaic, Wayne, Totowa
Bardonia, Bear Mountain, Blauvelt, Chestnut Ridge, Clarkstown, Congers, Garnerville, Haverstraw, Hillburn, Monsey, Nanuet, New City, Nyack, Orangeburg, Palisades, Pearl River, Piermont, Pomona, Ramapo, Sloatsburg, Sparkill. Spring Valley, Stony Point, Suffern, Tallman, Tappan, Thiells, Tomkins Cove, Upper Nyack, Valley Cottage, Wesley Hills, West Haverstraw, West Nyack
Mount Vernon, White Plains, New Rochelle, Tarrytown, Elmsford, Yonkers, Bronxville, Scarsdale and Hartsdale.