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Bankruptcy

If you face surmounting debt, you need a bankruptcy attorney who you can trust to resolve your financial issues and help you move forward with your life.

At Law Offices of James J. Fitzpatrick, LLC, bankruptcy is our specialty – our expertise. We focus on Chapter 7 and Chapter 13 bankruptcy filings on behalf of New Jersey residents and businesses. Our team of professionals understands that you are coming to us during one of the most difficult times in your lives, so we act immediately and efficiently to relieve your debt as soon as possible.

Overwhelming medical bills or credit card debt?  We want you to know that there is no shame in filing for bankruptcy. It is your legal right to discharge or reorganize your debt and it is our duty to help you prepare for a future free of debt and full of potential.

What is a Chapter 7 Bankruptcy?

Typically referred to as the “liquidation” bankruptcy, a Chapter 7 bankruptcy proceeding allows a debtor to discharge certain debts after turning over non-exempt assets to a trustee who converts them into cash for distribution to creditors. Once distribution (if any) is made and the discharge is granted, the debtor is no longer required to repay certain debts incurred prior to filing for bankruptcy. This enables the debtor to obtain a “fresh start” by wiping out his or her debts.

What is a Chapter 13 Bankruptcy?

Typically referred to as the “reorganization” or “consolidation” bankruptcy, Chapter 13 allows you to make payment of your outstanding debts by way of a court appr   ved repayment plan that typically lasts between three to five years. Upon completion of the plan, the debts not paid though the Chapter 13 plan may become eligible for discharge. Chapter 13 bankruptcy typically appeals to debtors who have non-exempt property that they want to keep (a home, etc), debtors who have excess monthly income available to make regular payments under a plan and debtors that fail to qualify for Chapter 7.

Not sure if Chapter 7 or Chapter 13 bankruptcy is right for you?
Give us a call and let us help you determine which option is best suited for your particular situation.


Foreclosure

If you are facing foreclosure, we can also walk you through the options available to you from loan modifications to refinancing and even loan forgiveness and forbearance if necessary. We negotiate with lenders in an effort to avoid foreclosure and work out real world solutions that meet the needs of our clients.

If you have been served with a foreclosure complaint, you must act quickly to preserve your rights and protect your interests in your home. Our team is experienced in the foreclosure process and we have the real world know-how to achieve optimum results for our clients at a time when they need it most.