Low & Low Bankruptcy Lawyers

The Benefits of Hiring a Bankruptcy Lawyer

Many people decide to save money by filing for bankruptcy themselves instead of hiring a lawyer. This decision, however, can actually cost more money in the long run.

Watch this video to learn how an experienced attorney can help you file for bankruptcy. Experienced bankruptcy lawyers have an in-depth knowledge of bankruptcy law that you may not. Accordingly, they understand your rights, and they can help you protect as many of your assets as possible. Without a lawyer, you’ll be stuck navigating the intricacies of bankruptcy on your own.

Bankruptcy is one of the most important reasons to hire a lawyer. With your home and assets on the line, you need someone who will fight for you and your property. To get started on your bankruptcy proceedings, call Low & Low Bankruptcy Lawyers at (201) 546-5753. We have locations in Hackensack, Elizabeth, Jersey City and West New York.

Online Resources: Foreclosure, Bankruptcy and the Importance of Hiring a Bilingual Lawyer

To most people, bankruptcy is not the ideal solution. However, if you’re deep in debt and don’t see another way out, it could be the best choice for your financial situation. For help navigating the complicated bankruptcy process, call the office of Low & Low Bankruptcy Lawyers at (201) 546-5753. In the meantime, take a look at these great resources:

• The Obama administration’s Making Home Affordable program has prevented thousands of foreclosures. Learn more at MakingHomeAffordable.gov.
• What does the foreclosure process involve? Find out at this page from the U.S. Department of Housing and Urban Development.
• Which is worse: bankruptcy or foreclosure? This article from MSNBC has the answer.
• If you time it right, bankruptcy can be a way to delay foreclosure. Learn more on this page.
• To learn about the importance of hiring a bilingual lawyer, take a look at this page. To avoid cultural miscommunications when filing for bankruptcy, hire a bilingual lawyer to help you understand all of the bankruptcy process.

3 Benefits of Choosing a Bilingual Bankruptcy Firm

America is a melting pot, and as such, many people within the country speak different languages. If English is not your first language, it can be difficult to understand the nature of your debts and finances from an only-English-speaking attorney or bank representative. Here are a few of the benefits that come with choosing a bilingual bankruptcy firm:

Communicate with Your Attorney:

The bankruptcy process is complicated enough without a language barrier. If you know some English, you may be able to get through your bankruptcy by hiring an English-speaking firm, but the end result may not be what you expected. By hiring the services of a firm that speaks Spanish as well as English, you can ensure that you are informed throughout the whole process.

Ensure Understanding:

Big problems can arise if you think you understand something but really don’t. Miscommunications happen all the time when lawyers and clients speak the same language—imagine what can happen if they speak different languages. When you hire a bilingual lawyer, you’ll be able to fully understand what your lawyer is telling you, and your lawyer will fully understand your wishes and concerns.

Make Negotiation Easier:

When you’re deep in debt, your creditors are constantly bugging you. If you file for bankruptcy, however, it becomes your lawyer’s job to speak to with your creditors. To make sure that everyone understands each other, it’s important that you hire a bilingual attorney. A bilingual attorney can also be tremendously helpful in a courtroom, should the bankruptcy process take you there.

If you’re looking for a bilingual bankruptcy firm in Hackensack, Jersey City, Elizabeth, or West New York, contact Low & Low Bankruptcy Lawyers. We’re dedicated to helping Spanish and English speakers all over Northwest New Jersey with their financial burdens. Call us today at (201) 546-5753 for more information.

Disclaimer:

The materials available at this website are for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney to obtain advice with respect to any particular issue or problem. Use and access to this website or any of the links contained within the site do not create an attorney-client relationship. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney.

The Foreclosure Process: How Does It Work?

 

Whenever a person buys a house, he or she typically takes out a mortgage loan. A mortgage loan is a debt that is secured by the home and is paid off over the next 15 to 30 years. As with any debt, there are serious consequences if a homeowner defaults on their mortgage. Here’s a brief overview of the foreclosure process and how a bankruptcy attorney can help you if you’re facing it: 

• Missed Payments: Every foreclosure starts the same—with a missed payment. Most mortgage lenders give their clients a 15-day grace period to make a missed payment—after that, late fees start accruing. If you believe that you’re going to miss a payment, it’s a good idea to speak with your lender early on. After you explain your situation, you may be able to work out a loan modification.
• Foreclosure Notice: After three to five months of missed payments, the lender will give the borrower a notice of intent to foreclose. What follows is a drawn-out process that involves the courts.
• Eviction: After several months, the foreclosed home will likely be auctioned off to the highest bidder, or the deed will revert back to the lender. In either case, the former borrower will be forcibly removed from the home. 

Though the foreclosure process may seem harsh, you should know that there are several alternatives. One alternative is to file for bankruptcy early on in the process. Once you file for bankruptcy, the court will issue an automatic stay that halts all creditor action against you, including foreclosure. If you file Chapter 13 bankruptcy, you may even be able to make up your delinquent payments and keep your home.

If you need help filing for bankruptcy in order to halt the foreclosure process, contact Low & Low Bankruptcy Lawyers. Call us today at (201) 546-5753.

Disclaimer:

The materials available at this website are for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney to obtain advice with respect to any particular issue or problem. Use and access to this website or any of the links contained within the site do not create an attorney-client relationship. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney.

Video Spotlight: What Is Bankruptcy Discharge?

If your finances are in poor shape, you might be contemplating bankruptcy. However, you shouldn’t file for bankruptcy until you are familiar with all of the important concepts of bankruptcy.

This video discusses the concept of bankruptcy discharge. A bankruptcy discharge frees the debtor of the liability of dischargeable debts, as defined in the Bankruptcy Code. Alimony and child support are generally not considered dischargeable.

If you need help determining which debts are dischargeable and which ones are not, contact Low & Low Bankruptcy Lawyers. Having practiced bankruptcy law in New Jersey for over 40 years, we have the experience necessary to get you through the bankruptcy process. Call us today at (201) 546-5753 to get started.