Gloucester County, NJ Bankruptcy Attorney and Foreclosure Attorney
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Compassionate Gloucester, NJ Bankruptcy Lawyer
It’s crucial to have the representation of experienced attorneys when facing foreclosure, financial hardship, or overwhelming debt in Gloucester County, NJ. Bankruptcy attorneys with Sadek Bankruptcy Law Offices can provide much-needed support to those seeking debt relief.
Sadek attorneys have helped countless clients in Gloucester County and the surrounding areas. New Jersey homeowners, residents, married couples, and business owners can rely on our team for professional legal guidance. Our law firm specializes in Chapter 7 and Chapter 13 Bankruptcy, loan modifications, mortgage and tax foreclosure defense, and bankruptcy alternatives.
Begin your journey to financial freedom by contacting our firm today. During your initial consultation, we’ll thoroughly examine your legal circumstances, analyze your financial position, and then offer personalized advice for financial relief. Call (856) 890-9003 to schedule your free consultation with Gloucester County foreclosure and bankruptcy attorneys.
Should I File Chapter 7 or Chapter 13 Bankruptcy?
Deciding to file for bankruptcy can be daunting, especially when deciding between Chapter 7 and Chapter 13. Fortunately, you don’t have to figure out the nuances of bankruptcy on your own. Our New Jersey bankruptcy attorneys can clarify the advantages of both options. After considering your unique situation, we’ll help you identify which bankruptcy approach offers the optimal route to debt resolution.
Chapter 7 Bankruptcy
Chapter 7 Bankruptcy proceedings offer debt relief by erasing most unsecured financial obligations, such as credit card balances and medical bills. Debt discharge occurs after selling non-exempt property to repay your creditors. Ideal for debtors with restricted income, minimal assets, and those dealing with substantial unsecured debt, this legal remedy typically lasts between three to four months. You can file Chapter 7 as an individual person or with your married partner.
Chapter 7 eligibility requires successfully completing the means test, which compares your income against New Jersey’s established median income thresholds. A New Jersey Chapter 7 bankruptcy lawyer can assist in determining whether Chapter 7 is the most suitable bankruptcy approach for resolving your financial hardships.
Business Bankruptcy Chapter 7
Chapter 7 business bankruptcy provides an expedited solution for New Jersey business owners seeking to dissolve their operations, eliminate commercial debts, and halt civil litigation for collection purposes. Various business entities, including corporations, limited liability companies (LLC), partnerships, and sole proprietorships, can file for Chapter 7 business bankruptcy.
Business owners in Gloucester County may qualify for debt discharge after selling business assets to pay back their debts. Speak with a New Jersey Chapter 7 business bankruptcy attorney today to learn how filing Chapter 7 can help you as a business owner.
Chapter 13 Bankruptcy
Chapter 13 Bankruptcy typically spans three to five years and involves reorganizing debts. Reorganization can make repayment easier for the debtor. Chapter 13 bankruptcy particularly helps higher-income individuals who cannot qualify for Chapter 7. This chapter is also useful for those who want to save their assets from liquidation.
If you need to consult with a Chapter 13 bankruptcy attorney in NJ, contact our law firm today. The legal team at Sadek Law can help you figure out if Chapter 13 could work for you.
What are the Benefits of Bankruptcy?
Some consider bankruptcy to be a last-ditch effort for debt relief. However, despite what you may have been led to believe, bankruptcy can offer a wide range of benefits to those suffering from financial troubles. Bankruptcy filings can deliver both immediate and sustained debt relief for Gloucester County, NJ residents. Furthermore, it can protect your assets, stop creditor harassment, and provide a fresh start.
- Stop Foreclosure and Repossession
If you’ve never considered bankruptcy before, you may not know how bankruptcy can save your house, vehicle, and other property. The automatic stay provision immediately halts most creditor collection activities, including foreclosure actions and asset repossession, upon filing your bankruptcy petition. An automatic stay can also help victims of creditor harassment. Creditors may not continue to contact you regarding your debts once you file for bankruptcy.
- Credit Card Debt and Medical Debt Relief
Coping with credit card and medical debt can be especially difficult due to high costs and interest rates. Through Chapter 7 Bankruptcy, debtors can eliminate most unsecured financial obligations, including credit card debt, medical bills, personal loans, and more. This legal protection enables individuals to redirect funds toward current living costs rather than spending all of their money on previous debts. If you’re struggling with unsecured debt, seek legal services from Sadek Bankruptcy Law Offices today. Our medical and credit card debt lawyers in NJ are dedicated to helping clients overcome financial problems.
- Protect Assets
Bankruptcy laws allow you to safeguard crucial assets, including primary residences, vehicles, and retirement savings. Both Chapter 7 and Chapter 13 protect your assets through the automatic stay, which halts collection actions. If you file Chapter 7, state and federal laws exempt certain property from liquidation. Chapter 13 offers enhanced asset protection by permitting restructured payments and loan modifications to address debt obligations.
- Fresh Start
For some, bankruptcy is the best way to start fresh. Whether you have debts discharged through Chapter 7 or manage to pay off debts through a restructured Chapter 13 payment plan, bankruptcy allows you to start over without being weighed down by old debts.
Foreclosure Defense Lawyer in Gloucester, NJ
Foreclosure can be a daunting and complex legal issue. The Sadek team recognizes that foreclosure not only jeopardizes your real estate investment but also your family’s security and future. If your home is at risk of foreclosure, speak with our attorneys. At Sadek Bankruptcy Law Offices, we deliver foreclosure defense services to property owners throughout Gloucester County.
What is the Judicial Foreclosure Process in New Jersey?
New Jersey uses a judicial foreclosure system, which means that state courts process all foreclosure actions. The Consumer Financial Protection Bureau’s federal regulations require lenders to wait until borrowers fall at least 120 days behind on payments before starting the foreclosure process.
Prior to filing a legal action, mortgage lenders seeking foreclosure must send the debtor a Notice of Intent to Foreclose (NOI). Debtors must respond within 30 days. They may either make arrangements with the lender or request mediation. Failure to reply means the case will go to court. Next, the lender will file a foreclosure complaint with the Office of Foreclosure. If the court authorizes the legal action to proceed, the lender will serve the foreclosure complaint to the defendant. The defendant has 35 days to answer.
If you’re facing foreclosure, contact a foreclosure law firm as soon as possible. Sadek’s foreclosure defense lawyers provide professional litigation for foreclosure cases. We’ll negotiate favorable settlements or loan modifications to preserve your property rights.
Mortgage Foreclosure
Mortgage foreclosure involves lenders seizing property ownership due to borrowers’ failure to fulfill the terms of their mortgage contracts. This typically results in the sale of the property to recover outstanding loan balances. New Jersey’s foreclosure process initiates when homeowners become delinquent on their payments for more than 120 days.
New Jersey homeowners can seek legal assistance from the Sadek law firm for foreclosure defense. Our New Jersey mortgage foreclosure lawyers assist clients through loan modification negotiations, legal defense strategies, short sale arrangements, or Chapter 13 bankruptcy filings to halt foreclosure proceedings and preserve homeownership.
Tax Foreclosure
Tax foreclosure is a legal process in which governmental entities, such as the IRS or local municipalities, seize properties due to delinquent property taxes. Under New Jersey law, property tax liens take precedence over other liens on the same property. This means that when governments foreclose on these properties, the foreclosure eliminates other liens. When property taxes remain outstanding for extended periods, local authorities may assume ownership of the property and conduct tax auction sales.
To stop a tax foreclosure on your home, contact Sadek’s NJ real estate tax foreclosure attorneys. Our lawyers can assist by filing a Chapter 13 Bankruptcy prior to scheduled sales, triggering automatic stay provisions. This process suspends proceedings while enabling homeowners to resolve tax obligations over three to five years. Alternatively, we can help New Jersey homeowners investigate redemption opportunities that may permit them to reclaim ownership.
How Can Sadek Law Help?
Dealing with complex legal issues such as bankruptcy and foreclosure on your own can be extremely difficult. With the help of the team at Sadek Bankruptcy Law Offices, you don’t have to find the answers to debt resolution on your own.
Our accomplished bankruptcy attorneys provide comprehensive bankruptcy services. We ensure that clients are aware of their legal rights, enabling them to find the best options for debt resolution. If you’re ready to file, we can conduct a thorough assessment of your financial status to determine whether Chapter 7 or Chapter 13 bankruptcy is best suited to your needs. As we review your case, we’ll take into account your income, assets, liabilities, and personal objectives. Throughout the proceedings, our attorneys offer strategic advice on optimizing exemptions to preserve your essential assets, including your residence, transportation, and personal belongings. The Sadek team will also negotiate with creditors and trustees on your behalf.
Sadek foreclosure defense attorneys are also prepared to help clients fight foreclosure. We highly recommend consulting with a lawyer as soon as possible if you’re facing foreclosure. Our team can help you respond to NOIs and formal complaints sent by your mortgage lender. We can assist with negotiations for loan modification and, if necessary, represent you in court. Sadek lawyers can also help you file for bankruptcy in order to stop the foreclosure on your home.
Schedule a Free Consultation with the Gloucester County, NJ Bankruptcy and Foreclosure Attorneys at Sadek Law
Don’t allow foreclosure threats or overwhelming debt to impact your financial prospects and mental health. Contact the foreclosure defense and bankruptcy counsel at Sadek Bankruptcy Law Offices today. Our team understands how the stress of debt and foreclosure affects the lives of our clients. We want to relieve that stress by helping you obtain financial freedom.
The Sadek Bankruptcy Law Offices serve Gloucester County and the surrounding areas. We’re ready to help you examine all available options to preserve your property and secure enduring financial relief. Time is crucial when confronting foreclosure actions or mounting debt obligations, so don’t delay. Contact our law firm today at (856) 890-9003 or contact us online to arrange your free consultation.