Bankruptcy Attorney for Individuals and Small Businesses
Whether your insolvency is a result of one significant event or a consequence of cumulative actions, The Law Office of Marybeth Schroeder will help you. During her 30 years of practice in the bankruptcy code, Ms. Schroeder has served as a bankruptcy attorney for many small businesses and individual consumer debtors. Her clients are spread across the state of New Jersey, including regions of Monmouth County and Ocean County.
Are You in Serious Financial Trouble?
Over more than three decades of experience as a bankruptcy attorney in New Jersey, I realize that many people feel it is easier to juggle payments around every month until things get better eventually, rather than to address the idea of bankruptcy, which of course can be a scary thought. What they don’t realize is that sometimes it’s almost impossible to get rid of the burden of debt.
You may be in this situation due to personal reasons like mounting medical expenses, or because your business isn’t in good shape. Bankruptcy is a tool that allows both individuals and businesses to offload debt that will likely continue to go unpaid, and to start again with a clean financial slate.
Signs That Indicate You Need a Bankruptcy Attorney
Continued decreases in cash flow
Low cash or capital balance
Your key management or employees have left and you are finding it difficult to meet payrolls of existing employees
Inability to meet debt obligations such as loans and lease payments
Consistent calls from creditors
Company executives considering injecting more personal money into the business to satisfy debts or payroll
Your minimum monthly payments are larger than your average monthly income
You can't qualify for debt management
You have more than one debt in collections and/or some form of legal action has commenced against you
You have exhausted your home equity option
You're constantly getting phone calls and messages from debt collectors
You have maxed out your credit cards and/or turned to high-cost loans
Is This the Right Time to Call for Help?
If you are witnessing the above warning signs, it means the situation has become too dire or untenable from a financial perspective. You should consider meeting with a qualified bankruptcy attorney to explore your options and to help you find the best way to address and/or erase your debts.
Worried you might lose your home as you can longer afford your mortgage payments, or are you already facing a foreclosure sheriff sale?
Can’t make the minimum payments on your credit card while the banks are adding fees, interest and penalties to the bill?
Getting harassed with phone calls as you are getting overburdened with medical bills?
If you find yourself in any of the above three situations, then the debt problem is likely having a severe effect on both your financial situation and your mental health. Get in touch with an experienced bankruptcy attorney like MaryBeth Schroeder to help you assess your best options and file bankruptcy under the Chapter that protects you and your assets the best.
Chapter 7 Bankruptcy
Chapter 7 bankruptcy is ideal for those who realistically have no hope of repaying acquired debt. Under certain circumstances, depending on individual factors like your current income, you may file Chapter 7 bankruptcy and have a complete discharge of qualifying debts.
Chapter 13 Bankruptcy
Chapter 13 bankruptcy may apply to those who have income and can manage their debt if they had a different payment plan structure that made it more manageable. If you are struggling to pay debts but are not completely destitute, this Chapter may help you improve your financial condition as a result of bankruptcy.
Restructure your business debt and make steady payments with a Chapter 11 bankruptcy plan. Ms. Schroeder has extensive experience representing small businesses in bankruptcy-related litigation such as director and officer liability, breach of fiduciary duty claims, successor liability, and more. Businesses may file under Chapter 7 as well, which will result in the dissolving of the entity as opposed to reorganization.
Businesses including corporations may file Chapter 11 bankruptcy, in which they may be able to reorganize or liquidate their assets to repay debt. In many cases, debtors and creditors may be able to collaborate to find a manageable solution for debts to be reorganized and repaid over a period of time.
Protect Yourself and Get Back to Living the Life You Want
Stop creditor harassment: Getting harassed by creditors all the time? Filing for bankruptcy may enter you into an “automatic stay” period, in which creditors will be asked to put a hold on collections efforts until your matter is resolved.
Prevent home foreclosure: If you can’t make your mortgage payments, your bank may threaten to take your home in a foreclosure. Filing for bankruptcy might afford you the ability to save your home.
Stop evictions: If you're past due on your rent, filing for bankruptcy may stop your landlord from further billing you while you're in the bankruptcy process. This may also prevent your landlord from filing an eviction case against you in court.
Put a stop to wage garnishment: If your wages are being garnished, bankruptcy's automatic stay will restrict most creditors from continuing with collection actions like wage garnishment during your bankruptcy case.
Let an Expert Handle Your Complex Situations
Your financial problems might call for matters to be settled through litigation, mediation, or arbitration. Regardless of your specific situation, I have the experience and resources for your help.
I have the perspective to effectively evaluate a distressed situation and the risks involved. I will help you navigate complex laws; typical for bankruptcy cases, such as foreclosures, Section 363 sales, UCC sales, and liquidations.