I am presently helping a client from Mount Holly, New Jersey. She was behind on her mortgage and for several months attempted to do a loan modification, sending documentation to the mortgage company on several occasions. The mortgage company kept her hanging, she got deeper in debt and now has been served with foreclosure papers. The Chapter 13 has now stopped the foreclosure and is allowing her to save her home, as long as she complies with the Chapter 13 plan.
Credit Card Bills
I have helped a Cherry Hill resident who has been unemployed for years and cares for an elderly parent, eliminate over 93% of his credit card debt. When he filed a Chapter 13 he had over $250,000 in credit card debt. He now has a payment plan where he pays back $450 per month for 3 years, then he will be free and clear of all his credit card debts. All the lawsuits, harassment and phone calls have stopped since he filed bankruptcy.
I recently filed a Chapter 7 petition for a Pennsauken couple where one spouse lost his job and also incurred huge medical bills after he was diagnosed with diabetes. All the harassment letters and law suits have stopped, and within a short period of time they will be free and clear of their debts.
I just got a Plan confirmed for a Sewell couple whose business had failed. They will be able to discharge all their unsecured debts, if they complete their Plan, and only pay back the State of New Jersey and Internal Revenue Service over their 5-year-plan. When they complete their plan they will have eliminated all their unsecured debt and their second mortgage on their home.
I helped a client in Pine Hill get back a repossessed car and substantially reduce the payments by cramming down or paying the fair market value of the car over 5 years, rather than astronomical car payments.
I am presently helping a couple in Cherry Hill who had run up over $100,000 in credit card debts and were living off of their retirement funds to pay the credit card debts each month. The couple will be able to be free and clear from their credit card debt after 3 years with a minimal payment of $210 per month for 3 years. This protects their property and makes them debt free on their credit card debt after 3 years.
I am currently helping a couple in Millville. When they came to me, they were having their wages garnished and their gas was shut off. By filing for bankruptcy, the wage garnishments have stopped and the gas is back on.
I am presently helping a woman in Sicklerville who lost her job, gave up her vehicle and is surrendering her home. She is starting clean by filing a Chapter 7 so she can get a fresh start and clean the slate. After her discharge, which takes 90-120 days after filing, she will be eligible for a new car loan and within 2 years of her discharge, she will be eligible for a new mortgage to start over.
I recently helped a client from Camden who was having her wages levied when she came to my office. As soon as the bankruptcy was filed the wage garnishments stopped immediately. Also, she was refunded any wages garnished subsequent to the bankruptcy filing.
Under the new law, we have helped people who are above the median income. These cases are much more of a challenge since their disposable income is judged on a different standard than clients under the median income.
I recently helped a Hammonton gentleman who was single and made a decent income. However, based on his change of circumstances I was able to reduce his payment from $525 for 60 months, which was 100% of his debt, to $214 for 43 months based on a change of circumstances in his income and expenses.
Also, with the recent US Supreme Court case of Hamilton vs. Lanning, 2010 WL 2243704 (June 7, 2010), I have a lot more flexibility for people above the median income who can show changed circumstances.
Debt Settlement Companies
I have represented numerous clients who made the major mistake of spending huge sums of money on debt settlement companies. Not only were these clients spending large sums of money each month on the hopes that they would become debt free, but the companies did not do their job. Many of the clients were subsequently sued by other creditors while in these payment arrangements.
I am currently helping a woman from Sewell who was paying over $900 per month and just received 2 lawsuits. Any of these debt settlement programs still impact your credit but the bankruptcy takes a global approach that stops all the lawsuits, harassment and garnishment and gets you debt free after 3 to 5 years with much lower payments.
Please be aware of these gimmicks surfacing on the Internet, TV and radio.
For more information or to schedule an appointment with a caring and compassionate bankruptcy lawyer, please contact Taieb Law.
We are a debt relief agency and are pleased to help clients file for bankruptcy relief under the U.S. Bankruptcy Code.