Bankruptcy Attorney in New Jersey Helps Relieve Your Debt
Creating a brighter financial future for New Jersey families and businesses
The Law Offices of James C. Zimmermann takes great pride in helping people resolve their debt by giving each client one-on-one attention. Attorney James C. Zimmermann practices bankruptcy law because he enjoys helping people take back their debt-free lives. At our firm, we make sure that you know your rights under federal and state law. As a debt relief agency, we work with clients in Sussex County and throughout New Jersey to find the best way to solve their financial problems by taking advantage of the protections offered under those laws, whether they choose to file Chapter 11, Chapter 7 or Chapter 13 bankruptcies.
Understanding the benefits of bankruptcy
The purpose of bankruptcy law is to give you a fresh start. From the moment your case is time-stamped and filed, an immediate stay may be placed on all efforts to collect or enforce debts against you. Creditors cannot continue foreclosure lawsuits, foreclosure sheriff’s sales, wage garnishments or bank account levies unless otherwise ordered by the court under the protections of the automatic stay, an injunction that stops creditors’ actions. Once you have filed bankruptcy, you can begin rebuilding your credit and working toward a financial future free from debt.
Choosing the right type of bankruptcy for you
Under federal bankruptcy laws there are different forms of relief available. The chapter that you proceed under will depend on your debts owed, your assets owned, your income earned and your desired outcome. This is not a “one-size-fits-all” type of practice. Individuals typically file under Chapter 7 or Chapter 13 while small businesses generally seek relief under Chapter 11.
Filing Chapter 7 bankruptcy in New Jersey
Under Chapter 7, the most common form of bankruptcy, you may be able to eliminate all of your debt. Unsecured debts are generally dischargeable outright. Credit card debt, medical bills, personal loans and some taxes are considered unsecured debt. Secured creditors may have to be addressed. A “secured creditor” is a mortgage company or an automobile lender. This type of relief is available to those with low earnings and few assets and may require the sale of some of your property.
Filing Chapter 13 bankruptcy in the NJ area
Under Chapter 13, you may be able to restructure your secured debts while you discharge your unsecured debt. This type of plan allows you to reduce your unsecured debt payments into one smaller, monthly payment so that you can keep paying your mortgage. After three to five years of making your payments, your unsecured debts may be discharged. Debt restructuring is an option when your earnings are high enough to allow you to support your family while paying back creditors.
Protecting your business by filing Chapter 11 bankruptcy
Filing under Chapter 11 lets you keep your business going as you work to eliminate debts. This option is available to small businesses, sole proprietors and partnerships. This type of bankruptcy may affect your personal finances as well. Our knowledgeable and experienced attorney helps business owners understand their rights and options.
Get professional help to solve your financial problems in New Jersey
As a debt relief agency, we help people file for relief under the U.S. Bankruptcy Code. At The Law Offices of James C. Zimmermann, every matter is approached on a case-by-case basis, and you meet with an experienced bankruptcy attorney to discuss your matter before any decisions are made. To schedule a free initial consultation, call 973-764-1633 or contact us online.