Contact Us
Please fill out the form below and our attorney will contact you.
Our Offices
Ratings & Reviews
-
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...
Show More -
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...
Show More -
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...
Show More -
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...
Show More -
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...
Show More
- posted: Sep. 24, 2024
Millions of Americans struggle with serious debt problems. For many of these people, filing for bankruptcy protection offers the best opportunity to regain financial stability. However, misconceptions still exist about the bankruptcy process, so a large percentage of the people who would benefit from this debt relief solution don’t take the first step. Should you be in a situation where you see no reasonable way to repay what you owe, answering a few simple questions with the help of an experienced attorney can help you find the best way forward.
Someone who is thinking about filing for bankruptcy should consider these questions:
What specific debts do I have? — Not every debt can be eliminated through a Chapter 7 bankruptcy. If your primary financial burden stems from credit card balances, medical expenses or personal loans, this type of filing might be exactly what you need. On the other hand, past due child support, tax obligations and many student loans cannot be discharged in a Chapter 7 proceeding.
Is Chapter 7 or Chapter 13 a better option? — While Chapter 7 bankruptcy allows for the elimination nonexempt debts, a Chapter 13 filing gives you the chance to develop a feasible debt repayment plan lasting from three to five years. For many, a key consideration is that Chapter 13 gives filers the chance to address secured debts, so they have the chance to keep their home and car rather than losing those assets through foreclosure, repossession or liquidation.
How will my credit be affected? — Though bankruptcy will have a negative impact on your credit score, and the filing will remain on your credit report for up to 10 years, you might see positive signs relatively soon after the process is complete. A knowledgeable bankruptcy attorney can give you sound advice on rebuilding your credit based on your particular circumstances.
Should I consider other debt relief options? — Once your bankruptcy filing is accepted, the court will issue an automatic stay, which means that creditors must stop their collection efforts against you. This can provide tremendous relief as you move forward through each phase of your bankruptcy. However, each situation is unique and you might want to discuss other options such as debt consolidation, credit counseling and negotiating with creditors outside the bankruptcy process. Your attorney can advise you on the pros and cons associated with each choice.
Filing for bankruptcy is a serious decision that requires careful consideration. By asking yourself these key questions and seeking professional advice, you can make an informed choice that will help you regain control of your financial future.
The Law Offices of James C. Zimmermann provides comprehensive counsel to New Jersey residents on bankruptcy and other debt relief matters from offices in Vernon, Wayne, Pompton Lakes, Hackensack and Nutley. Please call 973-764-1633 or contact us online to schedule a free consultation.
