Because of the economic downturn over the last few years, many adults who have graduated college and/or lost their job, have moved back to live with their parents. As a result, many of Mr. Taieb’s clients are struggling as a result of their increased monthly expenses for food, utilities and other household expenses which have resulted them falling behind on mortgage payments or other debts. However, don’t despair.
Mr. Steven Taieb of Mount Laurel, NJ has helped over 7,000 people over the last 32 years and is here to help you.
If you fall behind on mortgage or car payments, you have the opportunity to reorganize the money you are behind on the mortgage by doing a Chapter 13 Bankruptcy. When filing a Chapter 13, you will save all your property and in a lot of cases many of Mr. Taieb’s clients have eliminated thousands of dollars in credit card debt and other unsecured debt.
The great thing about Chapter 13 is that it gives Mr. Steven Taieb’s clients extreme flexibility in the type of plan they propose.
Mr. Taieb has had some clients paying almost $2,000 per month on credit cards and personal loans and he has been effectively able to reduce their payments substantially. Since every client’s case is a unique factual scenario, Mr. Taieb thoroughly analyzes their income and expenses to try to work out a plan that fits into their budget.
Many people don’t realize that when they are making minimum payments with 30% interest, they may be paying that debt back for 50 years. Chapter 13 sets a maximum time limit of 3-5 years.
In other situations, many of Mr. Taieb’s clients are able to totally walk away from their credit card debt and unsecured debt under a Chapter 7 liquidation. However, you must do a thorough analysis to make sure all property is exempt or protected if you file a Chapter 7.
Please don’t get overwhelmed if you are overwhelmed with debt, since you were a good parent and helped your struggling adult children. Help is available at TAIEBLAW.
Steven N. Taieb, Esq. is here to help you and is a South Jersey Bankruptcy Attorney who has helped over 7000 people with their financial problems for the past 32 years and is board certified in consumer bankruptcy law by The American Board of Certification which is accredited by The American Bar Association.
We are more than happy to discuss all your options and to see if bankruptcy is the best option for you.