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Mr Zimmerman was helpful and kind and prompt . He always answers his phone and that is refreshing . I will be using him for my bankruptcy in the future. He is one of the good ones . He is an outstanding attorney who truley care . He made ev...
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Mr. Zimmermann is a fantastic bankruptcy attorney who handled my case with care, efficiency and urgency. We were able to beat a judgement against me in the nick of time, and I truly feel a sense of relief due to the services of Mr. Zimmerma...
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This Lawyer will go above and beyond for you. As well as show tremendous empathy for those who are vulnerable and scared. His compassion to help civilian's shows through his actions and with his word. When he says he is going to call he cal...
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I’ve worked with Mr.Zimmerman on two different legal issues. In both instances he was fantastic! He is extremely knowledgeable and compassionate and able to breakdown a course of action into language anyone can understand. I would highly re...
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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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- posted: Nov. 27, 2025
No matter what specific holidays you celebrate, the end of the year is supposed to be a joyful time. Unfortunately, financial difficulties don’t take a vacation just because most people are partaking in annual festivities. In fact, presents, parties, travel and other holiday traditions can push debt problems to the point where Chapter 7 bankruptcy might be the best option.
You should never hesitate to speak with an experienced bankruptcy attorney regardless of what time of year it is. Rather than being something that casts a pall over the holidays, filing for a Chapter 7 debt discharge should be a positive step that puts you on a sound financial path for the coming year. As you look to stop calls from collectors and achieve the peace of mind you deserve, there are timing issues and other considerations associated with starting the bankruptcy process during the holiday season.
Under the Bankruptcy Code, purchases that occur within 90 days of filing are subject to additional scrutiny. It is highly likely that a credit-card balance or other debt of at least $900 for a non-essential purchase will be considered non-dischargeable. Though these items are referred to as “luxury goods or services,” the purchases need not be extravagant for a debt discharge to be denied. Gifts, travel, electronics, restaurant charges and anything not reasonably necessary for daily needs can fall into this category.
Similarly, cash advances totaling at least $1,250 taken within 70 days before filing are also presumed non-dischargeable. Even outside the lookback periods, using credit with no intent or reasonable ability to repay can lead to a creditor’s fraud objection.
Another potential year-end complication is that Chapter 7 eligibility depends in part on the means test, which averages your gross income over the six full calendar months before filing. Holiday season overtime, bonuses and extra shifts can push your average income higher and jeopardize eligibility.
Gifts or other types of asset transfers to friends or relatives might also affect a Chapter 7 proceeding. Trustees can claw back payments made to family members within the last year and transactions where it seems that the filer received less than fair value. Even if you’re just thinking about seeking bankruptcy protection, it is wise to consult an attorney before making significant financial moves.
The Law Offices of James C. Zimmermann advises New Jersey residents on a full range of bankruptcy issues. For a free initial consultation, please call 973-764-1633 or contact us online. Our five North Jersey offices are in Vernon, Wayne, Pompton Lakes, Hackensack and Nutley.
