Help Your Financial State For The Better
Are you overwhelmed with debt and receiving harassing calls from creditors day and night? Is your home in danger of foreclosure? If you are facing mounting bills and cannot see your way out of your current financial situation, you may benefit from filing bankruptcy. A bankruptcy filing could be what you need to stop the downward spiral and give you a fresh financial start.The Law Office of Peter E. Zimnis provides bankruptcy legal services to clients in the Hamilton and Trenton, New Jersey, areas. If you are facing a utility shut-off, eviction, a repossession or foreclosure, filing a Chapter 7 or Chapter 13 bankruptcy may provide immediate debt relief. A bankruptcy filing can help stop harassment by creditors, wage garnishments and bank levies to help you get your life back on track. Filing bankruptcy may also be a viable option if you find yourself drowning in credit card debt or medical bills. Certain tax debt, judgments and personal loans may also be discharged.If you need real solutions to your financial difficulties, speak with an attorney in a timely manner. The sooner you contact a lawyer, the sooner you may be able to find debt relief. Your initial consultation with a bankruptcy attorney from the Law Office of Peter E. Zimnis is free of charge.
Chapter 7 Bankruptcy Lawyer in Hamilton, New Jersey
Chapter 7 Bankruptcy
For consumers there are two basic kinds of bankruptcies. One of them is Chapter 7. Chapter 7 is designed to discharge (eliminate) your debt. This includes credit card debt, medical debt (doctor and hospital bills), personal loans, judgments and liens and even DMV surcharges. The filing of the chapter 7 also stops all collection efforts by your creditors, all garnishments, bank levies, and seizure of other personal property. It also stops utility shutoffs. If your license is suspended due to DMV surcharges, the filing of the Chapter 7 petition will restore your drivers license. If you are surrendering your house or automobile, chapter 7 eliminates your obligation on the mortgage or car loan which protects you when the asset is taken and there is a deficiency.
There are a few things that are not discharged in bankruptcy. These include child support, alimony, student loans. Taxes due to the IRS or the State of New Jersey may also be discharged in some instances but they have their unique set of rules.
The chapter 7 is usually complete three to four months of submitting your petition to the Court. You have one mandatory Court appearance where we will accompany you.
Once you are ready to begin we will schedule a consultation with an attorney who will give you an overview of the process. Upon retention an attorney will do a full intake interview. We will not send you home with a package to fill out nor will have a paralegal sit with you. All work will be done face to face with an experienced bankruptcy attorney.
Chapter 13 Bankruptcy Lawyer in Hamilton, NJ
Chapter 13 Bankruptcy
The second type of bankruptcy
used by individuals is Chapter 13. A
Chapter 13 is used when either you do not qualify for a Chapter 7 or if your
specific situation requires it. The Chapter 13 lasts between 3 to 5 years
and requires a repayment for this time period. Since every Chapter 13 is
unique I will work with you to determine what your case will require.Typically
individuals fall into one of two categories:
Category One: You catch up on arrears on secured or priority debt
(Mortgage, car payment, IRS/State of NJ Taxation). In this situation you
usually pay none or very little of your unsecured debt.
Category Two: You pay back some of your unsecured debt. This
comes up when either your income or disposable income is too high to qualify
for Chapter 7 or you have valuable assets that exceed the Chapter 7 thresholds.
Advantages of Chapter 13:
None of your assets are liquidated (involuntarily sold) if you
exceed the thresholds. You remain in control of your property.
You have the ability to modify or eliminate some secured
If you have multiple mortgages on your house you may be able to
get rid of the second or third mortgage.
If you have a high interest rate car loan you can force your car
lender to accept a lower interest rate.
As your attorney we will work with you to put together a plan that
will help you accomplice your goals while meeting the criteria imposed by the
Bankruptcy Law Answers in Hamilton, NJ
The staff at the Law Office of Peter E. Zimnis understands that when you are contemplating a bankruptcy filing, you probably have many questions about the procedures and laws involved. We have prepared the following list of Frequently Asked Questions to ease your concerns. Call our office at (609) 581-9353 to schedule your free initial consultation with a bankruptcy attorney who can provide you with additional advice regarding your unique situation.
I am drowning in debt. How can I afford to pay an attorney to file bankruptcy for me?
The Law Office of Peter E. Zimnis provides affordable rates and convenient payment plans. We understand that the last thing you want to do is take on more debt when you are considering a bankruptcy filing. In fact, if you find an attorney in the New Jersey area that charges rates lower than ours, inform us and we will see if we can beat their quote.
If I am married, do my spouse and I both need to file for bankruptcy?
No, one spouse can file independent of the other; however, you and your spouse may benefit by filing jointly. Each situation is unique, but as a matter of strategy, it may be to your advantage to file together. Speak with one of our attorneys to determine which filing and strategy will work best given your unique situation.
Must I include all of my assets and income in my bankruptcy inventory?
You absolutely must disclose all of your income and assets when filing for bankruptcy. You will submit your filing documentation under the penalty of perjury, so everything you claim must be complete, accurate and 100 percent truthful.
How long will the bankruptcy process take?
If you file a Chapter 7, the case will be finished within about four months. If you file a Chapter 13, your repayment plan will extend for three to five years. However, in either case, once you retain an attorney, harassment from your creditors must immediately stop.
is being garnished. Can I stop a wage garnishment?
After a creditor gets a
judgment against you, the State of New Jersey allows them to collect on the
debt. One way they can collect is by garnishing (taking) some of your pay
every check until the judgment is paid in full. By filing Bankruptcy you
can stop this wage garnishment, even if it has already started.
They emptied out my bank account. What can I do?
After a creditor gets a judgment against you, the State of New Jersey allows them to collect on the debt. One way they can collect on the debt is by levying or taking your money that you have in the bank. This is done without notice to you. When the levy occurs, your money is goes in limbo. The creditor then needs to do a motion to for the turnover of funds before the money is officially given to them. If you file a bankruptcy and the money is exempt (which it is in almost all cases) then you can get the money back minus any bank charges that were charged for the levy as long as you file before the Court orders the turnover of the funds.
Can I get my suspended Driver's license back?
If your license is suspended due to unpaid DMV surcharges or due to you owing money from a car accident, the filing of bankruptcy can get your license back. Where bankruptcy will not help you is if your license is suspended for some other reason such as loss of license from a DUI. That suspension needs to be fulfilled.
My house is worth a lot less then what I owe on it. Can bankruptcy help me?
If your house is worth less then the first mortgage then bankruptcy itself will do nothing to modify it unless there is additional collateral, which is rare. However bankruptcy can buy you to the time to complete a loan modification if you are in foreclosure.
Where bankruptcy can possibly help you is if you have more then one mortgage on your house. In some instances Bankruptcy allows you to eliminate the second or third mortgage. Please call us to discuss if you can wipe out the other mortgages.
I owe some back property taxes and they will not accept my money plus 18% interest rate is killing me.
2010 a case came out that stated that you can forcefully reduce interest rate
on your property taxes. The case has gone to the Third Circuit Appellate Court
and the NJ Supreme Court. A final decision has not been rendered but all
signs point to us not being able to forcibly reduce the interest rate. We are keeping a close eye out on this.
Regardless of how the issue is ultimately decided, bankruptcy allows you up to
five years to pay off the back tax liens in essentially easy monthly
installments whereas outside of bankruptcy they will not accept installment
I bailed a family member out of jail and now they are coming after me. Is there anything I can do?
If someone is incarcerated bail is often posted to get them released from jail until there is a trial. Sometimes the individual who is released fails to show up for Court. When that happens the company who underwrote the bail bond stands to lose the money. Therefore, if you are the one who took out the bail bond they will come after you to collect. Bankruptcy is a process designed to eliminate your debts with few exceptions. Bail bonds is not one of them and can be eliminated in a bankruptcy. Please call us to discuss your specific situation since them may also have a lien on your house.
By an Act of Congress, we are a debt relief agency, we help people file for relief under the U.S. Bankruptcy Code. The information on this Bankruptcy Attorneys / Law Firm website is for general information purposes only. Nothing on this or associated pages, documents, comments, answers, emails, or other communications should be taken as legal advice for any individual case or situation. This information on this website is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship.