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: Mar. 04, 2025
Though economic indicators have been mixed, many Americans are struggling with serious debt problems. For many people, the only way to obtain lasting financial relief is by filing for bankruptcy. Whether a Chapter 7 debt discharge or a Chapter 13 repayment plan is the best solution, it’s important to remember that these programs exist to help people whose debt burden has become unmanageable, usually due to circumstances beyond their control. A review of filings last year shows a sharp increase in the number of people who are turning to bankruptcy protection.
In 2024, bankruptcy filings rose by 16.2 percent compared to the previous year. While each case is unique, there are some general explanations for this trend, such as:
Effects of inflation — Even when monthly and annual inflation figures return to normal levels, that doesn’t reverse the dramatic price hikes that occurred over the previous few years. Increased costs for goods and services have strained household budgets, making it difficult for to manage existing debts.
Higher interest rates — In response to inflationary pressures, the Federal Reserve implemented a series of interest rate hikes. While intended to curb inflation, these increases resulted in higher borrowing costs for both consumers and businesses. Individuals with variable-rate debts, such as credit cards and adjustable-rate mortgages, saw their monthly payments rise, exacerbating financial stress.
End of pandemic relief measures — During the height of the COVID-19 pandemic, government assistance programs provided a financial lifeline to individuals and businesses. By 2024, many of these programs had concluded, leaving recipients without supplemental income or support. The absence of stimulus payments, rent relief, student loan forbearance, enhanced unemployment benefits and business grants meant that many were left to navigate the challenging economic landscape without support that they had come to rely on.
Tight labor markets in some industries — Though the overall unemployment rate remains low, many individuals, particularly those in white-collar industries, have had a difficult time finding a new job after being laid off from a previous position.
Whatever the reason, if you’ve fallen behind on what you owe, you have to remember that you’re not alone and that the path to a fresh financial start exists. The first step is reaching out to an experienced bankruptcy lawyer.
The Law Offices of James C. Zimmermann exceptional bankruptcy representation to New Jersey clients. Please call [ln::phone] or contact us online for a consultation. We have locations in Vernon, Wayne, Pompton Lakes, Hackensack and Nutley.
