Trenton, NJ, Bankruptcy and Foreclosure Defense Attorney
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EVALUATION
At Sadek Bankruptcy Law Offices, we realize that every situation is different. Our debt relief lawyers will take the time to learn about your situation and your goals. Our objective is to explain your legal options and offer the best debt relief strategy for you in the most compassionate and friendly manner possible. Call 24/7 to schedule your meeting with a lawyer.
AVAILABLE
Our office understands the financial stress our clients endure. Therefore, in addition to reasonable legal fees, we offer a payment plan to all of our valued clients to make quality legal services most affordable.
AND NJ
In addition to our primary law office in Center City, Philadelphia, we also have law offices throughout the Greater Philadelphia, Pennsylvania Area and in New Jersey. Our branch offices have contributed to making us the #1 Bankruptcy Filer and debt relief firm in the Greater Philadelphia area. Our goal is to have a convenient location within 20 minutes of where our clients work or reside.
Bankruptcy and Foreclosure Defense Lawyer in Trenton, NJ
At Sadek Bankruptcy Law Offices in Trenton, New Jersey, we specialize in guiding clients through the intricacies of bankruptcy and foreclosure defense with experience and compassion. Our dedicated legal team understands the stress and uncertainty that financial difficulties can bring, and we are committed to providing personalized solutions that help you regain control of your financial future. Whether you’re considering Chapter 7 or Chapter 13 bankruptcy, an experienced Trenton bankruptcy attorney with our law office will work closely with you to develop a strategy tailored to your unique situation.
In addition to our bankruptcy services, Sadek Bankruptcy Law Offices offers robust foreclosure defense to help you protect your home. We employ a variety of legal tactics to challenge improper foreclosure procedures, negotiate loan modifications, and explore alternative solutions to prevent the loss of your property. Our goal is to provide you with the legal support and guidance needed to navigate these challenging times, ensuring that you have a strong advocate in your corner every step of the way.
Experienced Trenton, NJ Bankruptcy Lawyers
It’s important to understand that having a case in bankruptcy court isn’t nearly as intense as having a case in the Supreme Court, or even in a United States District Court. Even before you submit your bankruptcy petition to the court, our attorneys will be with you every step of the way. Going before a bankruptcy judge can feel very intimidating, but our knowledge and experience will work to your advantage. Trust the experienced team at Sadek Bankruptcy Law Offices to help you on your path to debt relief.
Chapter 7 Bankruptcy
Chapter 7 bankruptcy, also known as liquidation bankruptcy, is a legal process in the United States where individuals or businesses with overwhelming debt can seek relief by liquidating their non-exempt assets to repay creditors. It is outlined in the United States Bankruptcy Code.
It’s typically used by individuals who cannot repay their debts and do not have enough income to enter into a repayment plan under Chapter 13 bankruptcy. It is particularly beneficial for debtors with significant unsecured debts, such as medical debt or credit card debt.
In Chapter 7, a trustee is appointed to oversee the liquidation of non-exempt assets, with the proceeds distributed to creditors according to a priority set by bankruptcy law. Certain debts, such as student loans and recent taxes, may not be dischargeable under Chapter 7, and eligibility criteria must be met to file for this type of bankruptcy. If you are unsure of whether you qualify for this type of bankruptcy, call a NJ bankruptcy lawyer with Sadek Law today.
Chapter 13 Bankruptcy
Chapter 13 bankruptcy, also known as a wage earner’s plan, allows individuals with regular income to develop a plan to repay all or part of their debts over three to five years. Unlike Chapter 7, Chapter 13 does not involve liquidating assets. Instead, the debtor proposes a repayment plan to make installment payments to creditors over the plan’s duration.
This type of bankruptcy is ideal for individuals who have valuable non-exempt property they want to keep or who are behind on their mortgage payments or car payments and want to catch up on them without foreclosure or repossession. It also allows for the rescheduling of secured debts and extending them over the life of the Chapter 13 plan, potentially lowering payments. Eligibility is subject to certain debt limits and a stable income to support the repayment plans.
What Are the Benefits of Bankruptcy?
Bankruptcy offers several benefits to individuals and businesses overwhelmed by debt. One of the primary advantages is the automatic stay, which immediately stops most creditors from pursuing collection actions, such as lawsuits, wage garnishments, and creditor harassment. This provides immediate relief and a space for the debtor to reorganize their financial affairs without the pressure of ongoing collection efforts.
For individuals, bankruptcy can discharge many types of unsecured debts, such as credit card balances, medical bills, and personal loans, providing a fresh financial start. This discharge means the debtor is no longer legally required to pay these debts, which can significantly reduce financial stress and allow for rebuilding credit over time. Generally, debts such as child support and alimony payments are not dischargeable.
Businesses can benefit from bankruptcy by either liquidating assets to pay off creditors and close the business in an orderly manner (Chapter 7) or by reorganizing their debts to continue operations (Chapter 11). This reorganization can allow a business to renegotiate terms with creditors, reduce debt burdens, and emerge stronger and more viable.
Additionally, bankruptcy can help protect essential assets. For instance, Chapter 13 bankruptcy allows individuals to keep their homes and cars while catching up on overdue payments through a structured repayment plan. It also provides a framework for addressing secured debts and tax obligations in a manageable way. For more information on our comprehensive debt relief services, please call our office at 856-343-4068 today.
What Is Foreclosure Defense?
Foreclosure defense involves legal strategies and actions taken by homeowners to prevent or delay the foreclosure of their property by a lender. Generally, this is done with help from a NJ foreclosure defense attorney. This defense can include challenging the foreclosure process on procedural grounds, negotiating with the lender for loan modifications, disputing the validity of the mortgage or the lender’s standing to foreclose, and exploring bankruptcy options to halt foreclosure proceedings and prevent a short sale.
The goal of foreclosure defense is to help homeowners keep their property, secure more favorable loan terms, or gain additional time to address their financial situation.
Mortgage Foreclosures in Trenton
Mortgage foreclosures occur when a homeowner fails to make mortgage payments, prompting the lender to initiate legal proceedings to reclaim the property to recover the outstanding loan balance. The foreclosure process typically involves several steps, including missed payment notices, a formal notice of default, and eventually a foreclosure auction where the property may be sold to the highest bidder. If the property is not sold at auction, it may become a part of the lender’s inventory of real estate-owned (REO) properties.
The foreclosure process and timeline can vary significantly depending on state laws and the terms of the mortgage agreement. If you wish to keep your home instead of selling it for its fair market value, our attorneys are here to advise you on the best course of action.
Tax Foreclosures in Trenton
Tax foreclosure cases happen when property owners fail to pay their property taxes, leading the local government to take legal action to recover the owed taxes. This process usually begins with the issuance of tax delinquency notices, followed by a tax lien being placed on the property. If the taxes remain unpaid, the government may proceed with a tax foreclosure sale, where the property is sold to satisfy the tax debt.
The property can be sold at a public auction, and the proceeds are used to pay off the delinquent taxes, interest, and any associated costs. Tax foreclosures can result in the complete loss of the property, making it crucial for homeowners to address tax delinquencies promptly. For immediate relief from foreclosure, bankruptcy may be your best option.
Contact a Trenton Foreclosure and Bankruptcy Lawyer at Sadek Law Today
Choosing the right legal partner can make all the difference in your financial journey. At Sadek Law in Trenton, NJ, we are dedicated to providing compassionate, experienced guidance in bankruptcy and foreclosure defense. Our commitment to personalized service ensures that you are not alone in navigating these challenging processes. Let us help you find the best path to financial stability and peace of mind. Contact Sadek Law today to schedule a consultation with a bankruptcy and foreclosure lawyer, and take the first step towards reclaiming your financial future.
Our attorneys also provide legal services to individuals in many other areas of New Jersey, including Cherry Hill, South Jersey, Burlington County, Camden County, Atlantic County, Gloucester County, Cape May County, and more.
To arrange a free and confidential consultation with a Philadelphia bankruptcy attorney regarding your legal matter, call our Philadelphia headquarters at (856) 343-4068.
Work with Our Dedicated and Experienced Bankruptcy Lawyers
Sadek Bankruptcy Law Offices, LLC has a dedicated team of lawyers who help clients achieve the benefits of bankruptcy in Pennsylvania and New Jersey. Our lawyers have over 75 years of combined experience and have filed more than 5,000 successful bankruptcy cases.