Bankruptcy

Buried by bills?  We have a solution!

Bankruptcy does not have to be your last resort—it may be your best solution. Filing for bankruptcy eliminates debt and provides breathing room needed to get past debts and start anew. Upon the filing of a bankruptcy petition, debt collectors are forced to stop calling you for unpaid bills, lawsuits and foreclosures are stayed, wage garnishment ceases, and further attempts to collect debt outside the bankruptcy system require bankruptcy court permission.

There is no replacement for experienced, seasoned legal guidance when filing bankruptcy. Attempting to file bankruptcy without counsel can end up costing you more money and requiring you to hire an attorney to help you out of continued financial problems.  Joseph A. McCormick, Jr., P.A. assists debtors and secured creditors in bankruptcy legal proceedings in southern New Jersey and throughout the state.  Contact our Haddonfield law firm today for legal counsel in the following matters:

Chapter 7

Chapter 7 bankruptcy is also referred to as liquidation—even though the vast majority of Chapter 7 debtors do not lose any property in the process.

Individuals filing Chapter 7 keep a list of exempt property, including some of the equity in their home and car. We work with you to determine if you can file Chapter 7 without losing any assets, and offer alternatives if you cannot. Generally, Chapter 7 permits you to eliminate credit cards obligations and other unsecured debts, while choosing whether to reaffirm and continue to pay secured debts such as mortgages.

Chapter 7 also provides a process for shutting down failing businesses and distributing the assets fairly among creditors.

We can also assist you with bankruptcy alternatives, such as an assignment for the benefit of creditors, which may provide more appropriate ways to shut down some businesses.

It is vital to speak with an experienced bankruptcy attorney to determine if Chapter 7 is right for you.  Call Haddonfield Law Offices of Joseph A. McCormick, Jr., P.A. at 856.795.6500 today.

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Chapter 13

Chapter 13 provides a structured individual reorganization. It was designed during the depression to help homeowners save their homes from foreclosure, and we still use Chapter 13 for that today. We work with you to prepare a three- to five-year payment plan to satisfy mortgage arrears and a percentage of unsecured debts.

Chapter 13 is also available to debtors who have substantial equity in their homes or too much income to be eligible for Chapter 7. In these cases, a Chapter 13 plan allows payment of all or some unsecured debt over time. A Chapter 13 may provide a significant advantage over debt consolidation and similar remedies as you can pay off credit cards without interest, escaping the high default rates of interest charged by the credit card companies.

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Chapter 11

Most Chapter 11 debtors are businesses seeking to reduce and restructure debt while continuing in operation. Chapter 11 is also available for individuals with high debt or income. The Chapter 11 process is complicated, and debtors face oversight from the court and the Department of Justice, Office of the United States Trustee. Experienced counsel, such as the Law Offices of Joseph A. McCormick, Jr., P.A., is essential to successfully negotiate a Chapter 11 plan with creditors and to assist in obtaining approval of the plan by creditors and the court.   Contact Law Offices of Joseph A. McCormick, Jr., P.A. today for insight into your best options.

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Creditor representation

Risk is a part of any business, but especially when you provide goods or services on credit.  When your clients file for bankruptcy it becomes much more difficult for you to collect and to effectively run your business.  Law Offices of Joseph A. McCormick, Jr., P.A. represents creditors in bankruptcy cases to rightfully and legally obtain what you are owed. We also defend creditors from bankruptcy trustees seeking to avoid preferences and other transfers. Our attorneys work with the courts to ensure your best interests—and your bottom line—are protected.

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Trustee representation

Administration of bankruptcy cases by trustees has become more and more complex. Joseph A. McCormick, Jr., P.A. has been actively involved in assisting trustees with their litigation needs and advising them of their options for over 25 years in the bankruptcy court. Contact an attorney from the Law Offices of Joseph A. McCormick, Jr., P.A. for additional information and to determine if this experience can be used to your advantage.

Contact the firm

The Haddonfield Law Offices of Joseph A. McCormick, Jr., P.A. represents consumers, creditors, and trustees in bankruptcy law.  Our attorneys have the experience, skill, and creativity to craft a legal solution that works for you.  Serving Camden, Burlington, Ocean, Gloucester, Atlantic, Salem, Cumberland, and Cape May counties and throughout the State of New Jersey, Joseph A. McCormick, Jr., P.A. will provide initial consultations to potential clients to determine how we can best provide assistance.  Call 856.795.6500 or contact the firm online to get on the right path to debt relief.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.