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Bankruptcy Lawyer in New Jersey

When you are facing a seemingly endless amount of debt, it can be difficult to know what to do or where to go for help. The burden of debt can put individuals and families under immense pressure and stress. For many people, pursuing bankruptcy can be an effective means of debt relief, allowing them a fresh financial start. While there are many negative connotations and stigma associated with filing for bankruptcy, it can often be the best solution for a debtor's financial situation. If you are considering filing for bankruptcy, the Law Office of Marc G. Alster can work with you to dispel the myths about bankruptcy and help you to discover which options are right for you. Rutherford Bankruptcy Attorney Marc G. Alster also offers several alternatives to bankruptcy for when it is not the best route forward.

Bankruptcy: Chapter 7 and Chapter 13

Most consumers who file for bankruptcy will do so under either Chapter 7 or chapter 13. Every case will be unique and the best option for you will depend on factors such as the amount of incurred debt, total assets, family situation, and financial goals. In a Chapter 7 Bankruptcy, a Trustee will be appointed to oversee the sale of assets to repay creditors. Typically, those who have few assets will pursue this method, however, even those with no asset whatsoever can qualify. Chapter 13 can lead to the reduction of debts and repayment under a court-ordered plan generally lasting no more than five years.

Bankruptcy can be effective in stopping:

  • Garnishments

  • Creditor lawsuits

  • Harassment by creditors

  • Home foreclosure

Alternatives to Bankruptcy

While many people may be in debt, filing for bankruptcy may not be the right choice for every situation. Attorney Alster offers clients several alternatives to bankruptcy and is happy to meet with you to discuss your options. Debt relief options can include creditor workouts, where the firm can assist in reaching agreements with creditors for repayment of debt without the need for a bankruptcy. While creditors are under no obligation to resolve disputes, working with an attorney can greatly increase the chances that a workout will be successful.

In other cases, clients are seeking help holding onto their homes and the firm offers options such as foreclosure defense and home loan modifications. There are several programs which homeowners may qualify for that can lower interest rates, extend the terms of a payment schedule, or even lead to the reduction of the loan balance. In other cases, a deed in lieu of foreclosure can be an effective route in place of foreclosure. Your home is among your most important possessions and the first step in keeping it is to meet with Attorney Alster.

Compassionate Legal Advocacy

Everyone deserves to live free from the burden of debt. Whether you are considering pursuing a creditor workout, loan modification, or bankruptcy, Rutherford Bankruptcy Attorney Marc G. Alster can help. Mr. Alster possesses more than two decades of legal experience and has an in-depth knowledge of the laws and regulations specific to bankruptcy. When you work with the firm, you will never be just a case number and an attorney will meet with you personally to understand your financial needs and goals. When you are ready to take the first step, do not hesitate to contact the firm and Mr. Alster today.

To learn more about your legal options, schedule a free consultation with the firm.