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Our Offices

  • Vernon Office

    Address

    244 State Hwy 94
    Vernon, New Jersey 07462

  • Wayne Office

    Address

    73 Mountainview Blvd
    Wayne, New Jersey 07470

    Phone

    973-764-1633

  • Pompton Lakes Office

    Address

    58 Colfax Avenue #1
    Pompton Lakes, New Jersey 07442

  • Hackensack Office

    Address

    41 Main Street
    Suite 2
    Hackensack, New Jersey 07601

    Phone

    973-764-1633

  • Nutley Office

    Address

    345 Centre Street
    Suite 2
    Nutley, New Jersey 07110

    Phone

    973-764-1633

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Law Offices of James C. Zimmermann locations:

Ratings & Reviews

  • lawyers
    5.0/5.0

    I highly recommend Mr. Zimmermann as an attorny. I recently purchased an investment property and boy was he helpful. He was easily available, very clear in explaining various concepts, laws and regulations, and provided very helpful tips o...
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    — Client

Alternatives to Filing for Bankruptcy

If you are experiencing significant financial distress from overwhelming debt, the prospect of filing for bankruptcy may be appealing. However, a bankruptcy can be time-consuming and expensive and could leave you with a significantly damaged credit score. Before deciding to start the bankruptcy process, you should consult an attorney who can advise you on other debt-relief options.

One immediate action you should take is to sit down and write out a budget for yourself so that your spending will match the income you receive each month. You may find that you have to cut out the gym membership, stop dining out every weekend and replace your luxury auto with a good used car.

You may also be wise to “downsize” your lifestyle to have more cash to pay off your debts. Selling your house, moving to a less expensive residence, getting rid of expensive electronics and eliminating expensive vacations are steps you should consider.

An effective option that is often overlooked is negotiation of a workout with creditors. With the aid of a qualified attorney, you can contact your creditors and attempt to obtain a reduction of the interest rate you are being charged or a revision of your monthly payment. A workout arrangement can help you free up cash to pay down your debt. It also benefits creditors by ensuring they will receive a significant portion of what is owed them rather than risk you going into bankruptcy, in which they might receive nothing.

A bankruptcy attorney or a non-profit credit counseling service can also assist you in setting up a payment plan that is acceptable to you and your creditors, similar to a Chapter 13 payment plan. Be careful, however. There are unscrupulous companies that prey on people who are suffering from financial problems and aggressive collection agencies. Research the credit counseling service before you decide to consult them.

If you are having serious financial problems, talk to an attorney at the Law Offices of James C. Zimmermann. We may be able to help you get back on track through bankruptcy or other debt relief options. Arrange a free attorney consultation by calling  973-764-1633 or contacting us online. Our New Jersey offices are conveniently located in Hackensack, Vernon, Wayne, Pompton Lakes and Nutley.