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Do you feel buried under a mountain of debt? Are collectors and creditors calling at all hours of the day? This situation describes the daily reality for millions of Americans and if you are looking for a solution, there is hope. At The Law Office of Marc G. Alster, consumers can find several options for debt relief including bankruptcy and mortgage loan modifications. Lead Garfield bankruptcy attorney, Marc Alster, has been helping individuals, families, and businesses for more than two decades to achieving the financial stability they deserve.

Bankruptcy can put a stop to processes including:

  • Creditor harassment

  • Wage garnishment

  • Home foreclosure

  • Repossession of property

Chapter 7 & 13 Bankruptcy – Discharge of Debt

Considering bankruptcy may be difficult for many people. While it should rarely be the first option a person considers, it is not an uncommon method of debt reduction. For many people, it can allow them to get out from under the burden of debt and reclaim their financial stability. There are two common types of bankruptcy which will generally fit the need of most people who seek this route: Chapter 7 and Chapter 13. Both chapters can help those in debt to achieve similar goals and the right method will depend heavily on a person’s financial situation. It is important to note that there are certain financial obligations, such as child support, which are unaffected by bankruptcy.

The most common forms of bankruptcy are:

  • Chapter 7 bankruptcy is designed to wipe out your unsecured debt such as from credit cards and certain loans. While this process will discharge the majority of your debt, it also requires the liquidation of your assets in order to pay creditors part of what is owed.

  • Chapter 13 bankruptcy does not require you to give up your possession but it also does not fully discharge your debt. Instead, it focuses on the reorganization and reduction of your debt to establish a repayment plan for the remaining balance.

Mortgage Loan Modifications

Mr. Alster provides several debt management options such as mortgage loan modifications as well as other alternatives to bankruptcy. If you are a homeowner who is behind on your mortgage payments or have little equity remaining, you may be eligible for certain loan modifications. There several financial factors which can determine the right course of action and Mr. Alster will personally review your situation to help determine what may be best for you. If you are facing foreclosure and want to discuss options to keep your home, do not hesitate to contact the firm today.

Knowledgeable and Trusted Legal Advocacy

Lead Garfield bankruptcy lawyer, Marc Alster, has more than two decades of experience in bankruptcy law and can help you to achieve your financial goals, no matter how complex your situation. Whether you are seeking a loan modification, bankruptcy, or want to discover the alternatives available to you, freedom from debt starts with a phone call to The Law Office of Marc G. Alster.

Do not let debt hold you back. Schedule a free consultation and talk to a lawyer today.