How to Avoid Bankruptcy

Monmouth County Bankruptcy Lawyers Offer Free Financial Analysis

If you want to discuss how to avoid bankruptcy and you are a Manalapan or Middlesex County resident, call us now for a free consultation.Our Manalapan bankruptcy law firm is a debt relief agency that offers clients options. We not only represent people filing bankruptcy in New Jersey, but, with our legal backgrounds in business, real estate and loan modifications, we can explore all possibilities. We can discuss how to avoid bankruptcy for you personally, as well as for your business. Thus, we offer a free financial analysis in the initial consultation. There is no obligation to hire our firm after reviewing your options. However, if you decide that bankruptcy is your best option, we can handle that, too.

These Debt Relief Alternatives May Show How to Avoid Bankruptcy

  • Debt consolidation – You can do this with credit cards by transferring the balances of multiple cards onto one. The new card should have a lower interest rate to be financially lucrative. There are also a number of debt consolidation agencies; however, some of these companies may not have your best interest in mind. Speak to an attorney and check out the company’s reputation before entering into any contract.
  • Debt settlement and negotiation – An individual by him or herself, or through an attorney, can negotiate for debt settlement with a creditor. Particularly when creditors have trouble collecting on the debt, they are typically open to payment plans or a reduced sum.
  • Sell cars or other personal property to downsize assets and liabilities – This might sound obvious, but if you can sell and downsize your car or other assets, you may get out from financial trouble or at least have more money to continue paying bills on necessities.

How to Avoid Foreclosure in NJ: Loan Modification or Short Sales

  • Loan modification for mortgages – A loan modification attorney with real estate experience is a person’s best bet to get back on track without filing for bankruptcy. (Although bankruptcy offers a number of advantages.) Options for loan modification include:
    • HAMP loan or other public assistance loan or refinance – The federal government offers the Home Affordable Modification Program (HAMP) for eligible applicants.
    • In-house loan modification with lender – Banks and mortgage lenders have in-house programs to assist people at risk of defaulting on a mortgage.
  • Sell the real estate – Selling the home and downsizing might be the right choice for certain homeowners. This can occur a number of ways and a real estate and short sale attorney can explain which option might best suit your situation:

Questions about Bankruptcy and Debt Relief Options in New Jersey?

Bankruptcy has many advantages, but it is not the only option for debt relief. Weigh the pros and cons of filing bankruptcy versus alternatives to bankruptcy. Knowing what your other options are can help you make an informed, educated decision.

Speaking with bankruptcy lawyers in NJ about debt relief does not cost anything. Additionally, there is no obligation to hire our firm after your initial consultation. Fill out our online form for debt relief information, or just call us directly at (732) 358-2028.