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Sussex County Bankruptcy Attorney Answers Frequently Asked Questions

New Jersey law firm helps reduce or eliminate your debt

Bankruptcy is often portrayed as a complicated and scary procedure. In reality, an experienced bankruptcy attorney can walk you through the process of filing for bankruptcy so that you can minimize your stress and look forward to a debt-free life. At the Law Offices of James C. Zimmermann in Vernon, NJ, we are dedicated to helping families and individuals get their financial future back on track. With more than 20 years of legal experience, attorney James C. Zimmerman has established himself as a trustworthy resource and impassioned advocate for those who need help. To help you learn more about how we can assist you, our New Jersey bankruptcy attorney answers some common questions people have about bankruptcy:

We invite you to meet with our bankruptcy lawyer for a free consultation so we can answer all of your questions.

Trust an experienced attorney to answer your New Jersey bankruptcy questions

Bankruptcy offers you a new beginning. At the Law Offices of James C. Zimmermann, we are a debt relief agency with experience helping New Jerseyans find relief under the protections of bankruptcy law. To schedule a free consultation, call our Vernon office at 973-764-1633 or contact us online.

How can I stop creditors from harassing me?

As soon as we file your bankruptcy action, a stay is put in place that requires bill collectors and creditors to immediately cease calling you. All collections activity must stop as soon as a bankruptcy proceeding is started. Once creditors stop calling, you can answer your phone without the stress.

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How can I stop debt collectors from garnishing my wages?

Our attorneys can end wage garnishments through an automatic stay. A stay means that a court has prohibited certain actions until a case is resolved. In bankruptcy cases, a stay prevents wage garnishments and other collection activities as soon as your attorney files to begin your proceedings in bankruptcy court.

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What can I do to prevent bank levies?

It is important to deal with debt problems as soon as they arise. If you don’t think you will be able to catch up with your monthly payments, you should take action before things get worse. Creditors are often able to access funds in your bank account through a judgment. A levy is a tool to freeze your account and take money directly from it. Filing for bankruptcy prevents banks and creditors from freezing your accounts. You may also be able to work out payment plans to avoid a levy.

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What assets will I be allowed to keep if I file bankruptcy?

The short answer is that bankruptcy works differently for everyone. The long answer is that it depends whether you are talking about Chapter 7 liquidation or Chapter 13 debt reorganization. Those who file under Chapter 13 may be able to keep all of their property if they wish. Under Chapter 7, nonexempt property may be liquidated (sold). Our clients have the choice of New Jersey’s exemptions or federal exemptions, each offering different benefits. Our attorney can advise you on which options are most likely to allow you to keep your home, your vehicles or other property you wish to keep.

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What is the difference between liquidation and reorganization?

Chapter 7 liquidation is the sale of nonexempt property in exchange for the immediate discharge of your nonsecured debts. This means you may have to give up some of your belongings, but your credit card debt and medical bills will disappear. This option is only available to those whose income and assets are below a certain level.

Chapter 13 reorganization is a way to lower your monthly payments on nonsecured debts so that you have more money to pay your mortgage and other secured debts. This requires you to comply with a payment plan for three to five years. If you continue to make the required payments throughout the bankruptcy period, some of your debts may be discharged.

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How can I modify my mortgage?

Our attorney can help you deal with your mortgage company to reduce your payments or interest. Depending on how much you owe and the value of your home, we may be able to negotiate better terms so that you have more time to pay back your loan.

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