• Stop Foreclosure and allow you to save your home
• Stop Creditor Harassment and Wage Garnishments
• Stop the Repossession of your vehicle
• Wipe out credit cards, medical bills and other debts while keeping your personal property.
• Wipe out surcharges and allow the return of your driver’s license [if your suspension is up and municipal fines are paid].
• Wipe out some IRS debts.  This is a complex issue, but we will be happy to discuss your possibility of wiping out certain IRS debts.
• Consolidate student loans. Student loans cannot be wiped out in any bankruptcy at this time, but one can place the full amount of the loan in a 3 to 5 year repayment plan through a Chapter 13. This does not reduce the amount owed but rather allows a repayment plan while protecting you from wage garnishments and tax refund interceptions. 

Additional Information on Bankruptcy
 
Does this sound like you?
Many of my clients tell me that they are tired of “robbing Peter to pay Paul."  In fact, they say that they now have to resort to  robbing Paul, and Paul is beginning to run out of money and patience. They suffer sleepless nights worrying how they can pay their mounting bills.  The stress of trying to “stay above water” takes its toll on their finances, families, marriage and health.
 
We know that creditors continue to viciously circle like hungry sharks, calling all hours to harass and embarrass. For those who say, “I’ve had enough”, it’s time to get your life back on track. Give us a call now at 856-914-5100 for free information about your bankruptcy options.
 
Those who are properly informed about bankruptcy know it can:

Take Your
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About Bankruptcy

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The Law Office of Lee Abt • 3747 Church Rd. • Suite 102 • Mount Laurel, NJ 08054 • Call: 856.914.5100 • Fax: 856.231.7583

856.914.5100

Did You Know?
 
BANKRUPTCY DOES NOT=FAILURE
BANKRUPTCY DOES NOT=BAD PERSON OR DEAD BEAT
BANKRUPTCY DOES NOT=NO FUTURE CREDIT
BANKRUPTCY DOES NOT=RUINING YOUR CREDIT SCORE
BANKRUPTCY DOES NOT=WHAT YOUR FRIENDS AND FAMILY MEMBERS MAY HAVE TOLD YOU
BANKRUPTCY DOES NOT=WHAT SOME CONSOLIDATORS, CREDIT CARD COMPANIES AND SO CALLED “FINANCIAL EXPERTS” SPOUT..
 
Those who are properly informed about bankruptcy know...
 
BANKRUPTCY DOES=RELIEF FROM YOUR DEBTS
BANKRUPTCY DOES=THE CHANCE TO REBUILD YOUR CREDIT AND YOUR FINANCIAL FUTURE
BANKRUPTCY DOES=THE FRESH START THAT YOU DESERVE!
 
Call us today to begin the path toward building your credit and getting the fresh start you deserve!

The Origins of Bankruptcy

When did Bankuptcy Begin?
Bankruptcy has been around for thousands of years. In fact, bankruptcy is mentioned in the Bible, in the Book of Deuteronomy.
 
Deuteronomy 15:1-2
“At the end of every seven-year period you shall have a relaxation of debts, which shall be observed as follows. Every creditor shall relax his claim on what he has loaned his neighbor; he must not press his neighbor, his kinsman, because a relaxation in honor of the LORD has been proclaimed”.
 
The Book of Leviticus
Moses announces God’s decree that special years be set aside for the forgiveness of debt, freeing of slaves, and other measures re-balancing the social order.
 
It was never God’s intention to create a society where debt was a crime. We see a society where loans were kept to a minimum by  law, and gratuity and charity, were kept to a maximum by law.  To accomplish this end, God did not outlaw borrowing and lending, but instead He provided that loans would eventually become gifts, and thereby limited loans only to those in need. He permitted the loan to take place, and the obligation to repay to occur, but He limited the legal obligation to repay to a maximum of only seven years. Every seventh year all lenders were to release their debtors from all of their debts. Every seventh year, the debtors were discharged from all their loans and were no longer legally obligated to repay them. The debtor was free of all loans by force of law.
 
“At the end of every seven years thou shalt make a release. And this is the manner of the release: every creditor who lends ought unto his neighbor, shall release it; he shall not exact it of his neighbor, or of his brother, because it is called the Lord’s release”. Deut. 15:1,2.
 
In our modern version of the law, it is your right to obtain a Chapter 7 discharge every 8 years. But, if you need to file another bankruptcy and it has not been 8 years since you filed your previous Chapter 7 case, you may qualify for  a Chapter 13.  Under the new laws, you can qualify to file a Chapter 13 four years after filing a prior Chapter 7 case.
 
 
 
 
Famous people who filed bankruptcy
Hundreds of famous people have filed bankruptcy. Abraham Lincoln, Buffalo Bill, Lawrence Taylor, Mark Twain, Oscar Wilde, Tom Petty, Rembrandt, Tom Sizemore, Lorenzo Lamas, Jerry Lewis, Willie Nelson, Tammy Wynette, P.T. Barnum, John Barrymore, Bjorn Borg, Margaux Hemingway, Larry King, Henry Ford, William Fox of 20th Century Fox Film Corporation, business controlled by Donald Trump, Francis Ford Coppola, Zsa Zsa Gabor, Wayne Newton, Natalie Cole, Walt Disney, Charles Goodyear [Goodyear Tire], Henry John Heinz [condiment manufacturer], Marvin Gaye, Mick Fleetwood, Milton Hersey [famous candy maker], Randy Quaid, William McKinley [25th U.S. President]. These are just a few of the many famous people who have sought relief from the bankruptcy court. If the wealthy and famous need bankruptcy as a helping hand and safety net, than you can imagine how much the average American can be helped by the same relief. People struggling with high gas and food prices, rising school tuitions, soaring inflation, crazy credit card rates and the extremely high cost of basic living can all benefit from bankruptcy protection.

Bankruptcy will not hurt you but rather will greatly help your financial situation if you are struggling to pay bills. Our clients tell us that filing for bankruptcy was the best decision they have made in a long time and that they wished they had done it sooner.  They tell us they now have the peace of mind  they have been desperately searching for but could not find.
 
We get many referrals from past clients who send in their mothers, fathers, sisters, brothers and friends to file bankruptcy with us.
 
They would not refer loved ones if bankruptcy hurt them or their future credit.    Our clients are also very appreciative of our warmth, understanding and guidance through this positive process. We care about each and every client. You are not just a number with us.  Lee handles only bankruptcy cases, so he can give full attention to all of  our clients and not be distracted by working on municipal, divorce or criminal cases.  Lee is a full service bankruptcy attorney with over 27 years of experience. If you use Lee for your bankruptcy needs, you will see why he was voted one of the most awesome bankruptcy attorneys in the October 2007 issue of South Jersey Magazine.
 
Pick up the phone and dial 856-914-5100 to find out the truth about bankruptcy. Do not let your fear about bankruptcy take over and allow yourself to be trapped by so called “consolidation companies.” And do not be  misled by well-intentioned friends and family members. Keep in mind that bankruptcy helps millions of people each year get rid of debts, get back on their “financial feet” and responsibly build new credit so they can buy homes, cars and obtain new credit.

About Chapter 7 & Chapter 13
 
Know Your 7 & 13
The typical bankruptcies are 7,11 and 13. The two consumer bankruptcies are usually Chapter 7 and Chapter 13. Chapter 11 is normally used for business reorganization or for those individuals who have over $1,000,000 of secured debt and/or over $336,000 of general unexecuted debt.
 
Chapter 7
Chapter 7 is a quick process which is usually discharged in about 3 months from the filing date.  There is no minimum requirement for the amount of debt that can be discharged in a Chapter 7. Chapter 7 can wipe out most debts and will not harm your credit.  In almost all cases you can keep your house, cars and personal items.  Child support, alimony, student loans, criminal restitution and certain IRS debts are not dischargeable. But certain IRS debts are dischargeable. Credit cards, medical bills, personal loans, payday loans, car repossessions, time shares, gym memberships, and most other unsecured debts are dischargeable in a Chapter 7. You can file a Chapter 7 and go on to purchase a home within about 6 months to 2 years after discharge, or a car immediately after discharge. If you desire, you can also obtain new credit cards. Individuals, married couples and businesses may all qualify for a Chapter 7. There is a means test which is not actually a test, but a maximum amount of income per household that determines whether you qualify for a Chapter 7. The means test is quite liberal and allows most people to qualify for Chapter 7! There are other factors that determine whether one qualifies for a Chapter 7 and since every individual case is different, please feel free to call us today to see if you qualify for a Chapter 7 and to get a quote for our low flat fees.
 
Chapter 13
Chapter 13 can help if you have fallen behind on your mortgage, car, rent, taxes, insurance surcharges or child support. Chapter 13 provides a repayment plan that spans over a 3 to 5 year repayment period referred to as a “Chapter 13 plan”.  In most cases you can still get rid of most or all of your unsecured debts. This depends on your income and the amount of equity in your home.  If you have over a certain amount of income or equity in your home, then your plan may include a repayment of a portion or, rarely, all of your unsecured debt.  Since every individual has a different situation, you should call us for more information about Chapter 13.

Through Chapter 13, clients stop  the foreclosure of their home, catch up on child support arrears, rent arrears, tax arrears, and get their driver’s licenses restored.  Payments begin the month after the case is filed and plan payments go directly to the trustee, who is appointed by the Bankruptcy Court.  These payments are eventually disbursed to those who are to receive funds through your Chapter 13 plan.
 
Chapter 13 also helps those Debtors that are over the means test. Those with too much income to qualify for a Chapter 7 usually do qualify for a low Chapter 13 repayment plan of a small portion of their debts.  These repayment plans range from 3 to 5 years.  The remainder of the debts are simply discharged when the plan is complete and the case is discharged. Again, since each individual’s income, assets and circumstances vary, you will need to contact us to discuss your options.

Rebuild your credit and get the fresh start you deserve!