Should I File For Bankruptcy?
Which Chapter is Right for Me?
Many individuals facing financial strain feel that they have nowhere to turn for help. There are often many questions that need to be addressed in a small period of time. That is why it is so important for anyone facing financial difficulties to speak with an experienced personal bankruptcy attorney as earlier as possible. When creditors are constantly calling and unpaid debts are beginning to pile up, one may begin to feel like normal life is just a memory. In almost all cases The Law Offices of Marc G. Alster has been able to help individuals regain their lives. Living without constant financial strain may seem like a faraway dream, but with help from the Law Offices of Marc G. Alster and the US Bankruptcy Code, getting a "fresh start" is more likely than not, right around the corner.
If three (3) or more of the following apply to you, you should consult a bankruptcy attorney now. If five (5) or more apply to you, you should probably have seen an attorney months ago!
- My debt is over $10,000.00 not including my house and car
- I am frequently late on payments
- I use credit cards for necessities, like food and clothing
- I am thinking about getting a consolidation loan
- I am getting phone calls from collection agents
- I make only minimum monthly payments on credit cards
- Payments are more than 1 month behind to multiple creditors
- I pay 20% interest or more on more than one credit card
- I frequently need to take cash advances
- I am getting sued by more than one creditor
- I am robbing "Peter to pay Paul"
- I have been turned down for additional credit a reasonable rates
- My driver's license is suspended because of surcharges
- I cannot afford auto insurance
- My mortgage or rent payments are always late or are currently behind
- I am getting divorced and cannot pay my bills on time
- My pay is being garnished by a creditor
- I have large medical bills that are not covered by insurance
- I owe income taxes that I cannot currently pay
- I have no savings accounts so to speak
- I have taken large loans against my retirement account to pay bills
- I do not open the mail anymore because I cannot pay the bills
- I have trouble sleeping because of my financial problems
- I have recently been laid off and don't know when I'll return to work
- I have borrowed money from family members to pay bills
- I have returned a vehicle before the term was up and now have a Large deficiency claim from the creditor
What Chapter Should I File?
The most frequently asked question is which type of bankruptcy is right for me? Many people wonder what the difference is between Chapter 7 and
Chapter 13 Bankruptcy.
Chapter 7 Bankruptcy is commonly referred to as a liquidation bankruptcy, wherein all debtor(s) general unsecured debt is eliminated entirely.
Chapter 13 bankruptcy is centered on debt reorganization rather that eliminating the debt entirely. Many people merely require a lower monthly payment in order to pay off their debts. Chapter 13 is perfect for those that can continue to pay their debts at a lower monthly rate. Chapter 13 can also stop foreclosure proceedings while debtors catch up on mortgage arrearages and other arrearages owed to any other secured creditors.
Looking for a lawyer for a bankruptcy case in Hackensack?
The best thing to do is to sit down with an experienced Hackensack bankruptcy attorney to determine which debt relief option works best for you. Call to speak with a Teaneck bankruptcy lawyer at our firm today!