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Fitzgerald & Associates Specialize in Bankruptcy Law!
Member Bars New Jersey, New York and Federal Courts

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WHO SHOULD CONSIDER BANKRUPTCY?
$5,000 to $10,000 in credit card debt per household may not be much to some people. In fact in this country it has become average. However when credit card debt equals half ones yearly income or more, it's typically time to consider ones options. People who have become unemployed, who have excessive medical bills, who have just been divorced or separated, who have suffered the loss of a loved one, or have experienced any number of other overwhelming financial problems should know more about what the Bankruptcy Code can do to help them.

HOMEOWNERS who have missed more than three mortgage payments or who have remained consistently behind for 6 months may need to consider filing. Banks are not being mean in not accepting payments. Banks are required by federal laws dating back to the 1930s to treat defaults in excess of three months as non-performing, to put monies in reserve accounts to protect against losses and to stop accepting anything less than the full amount of the arrears. Still, this does not mean that you should or can do nothing.

WHAT CAN BANKRUPTCY DO FOR ME?
Bankruptcy cannot make you thin or stop you from overspending.
It does not walk the dog or get you a better job. You have to do those things for yourself. It does prohibit all debt collection efforts including phone calls and mail. It stays creditors from bringing lawsuits against you and holds in abeyance any that have been commenced. It allows you in most cases to eliminate debts or to pay your debts over time. Specifically, it stays garnishments, foreclosure actions, evictions and sheriff sales. It can even help to prevent car repossessions.

CLICK HERE for a list of Debts that are generally Dischargeable
& generally Non-Dischargeable

HOW DOES BANKRUPTCY WORK?
If you decide that bankruptcy is right for you, we will prepare your bankruptcy petition, review it with you, and file it with the Courts. About one month after your case is filed, you must attend an administrative hearing called a "creditors' meeting" at which a person called a "Trustee" will ask a few questions. An attorney will accompany you to this hearing, answer all your questions prior and have you ready to proceed. In a Chapter 13 situation Homeowners, who are behind on their mortgage payments, should by this point already have started paying their monthly mortgages again as well as a Plan payment towards the arrears.

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