Mount Laurel Bankruptcy Lawyers

Our New Jersey Bankruptcy Attorneys are proud to serve the legal needs of residents in Burlington County, Camden County, Atlantic County and Gloucester County from our  Mount Laurel, NJ law office.  Our law office is centrally located and is just off Route 73 and in close proximity to the New Jersey Turnpike and Route 295.  Our New Jersey lawyers offer a free initial consultation to determine your best legal strategy and we offer flexible payment plans to make any legal fees most affordable to you.  

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From our Mount Laurel, NJ location our attorneys assist in the following fields of law:

New Jersey Chapter 7 Bankruptcy Lawyer:

Filing Chapter 7 Bankruptcy in New Jersey is more common than people think.  Although New Jersey is among the states with the highest income, it is also the 9th most expensive state to live in according to Reader’s Digest https://www.rd.com/culture/most-expensive-states-to-live-in/.  Due to high property taxes, insurance rates, rents and other expenses, there is not a lot of room for unexpected expenses that will undoubtedly arise.  When there is an emergency, increased expenses, unexpected loss of income or expenses related to a growing family, many families in New Jersey are forced to rely on credit cards and personal loans to get by.  The incurrence of debt puts an additional financial burden on families in New Jersey which they struggle to pay for years.  With credit card interest averaging 21.28% according to The Balance https://www.thebalance.com/average-credit-card-interest-rate-4772408, many families are forced to fall behind on debts.  Due to collection lawsuits, decrease in credit scores, credit harassment, failure to secure more credit, failure to obtain car loans and/or a mortgage at a competitive interest rate residents of New Jersey turn to Chapter 7 Bankruptcy to obtain a fresh financial start.  

New Jersey Chapter 13 Bankruptcy Lawyer:

Any Chapter of Bankruptcy is based on affordability, however Chapter 13 Bankruptcy is the ultimate example of a debt reorganization based on affordability.  In New Jersey, it is not uncommon for home owners to fall delinquent on their mortgage, in fact New Jersey has almost double the national average of homeowners who are delinquent on their mortgage according to Bankrate, https://www.bankrate.com/mortgages/state-mortgage-delinquency-rates/.  Ultimately the mortgage delinquency results in a foreclosure proceedings.  Most Chapter 13 Bankruptcy proceedings that we see are a result of a mortgage foreclosure action.  A Chapter 13 allows a Petitioner to stop any future sale of their home and remain in the property.  The Petitioner will repay the mortgage arrears back by putting the arrears in an extended plan up to five years long.  Also, any other unsecured debts (credit cards, personal loans, medical debts, etc.) will be repaid based on affordability only. 

Another common reason that a Chapter 13 Bankruptcy is filed in New Jersey is to engage in a compromise with creditors based on “affordability.”  Unlike debt consolidation that only looks at how much debt you have, Chapter 13 Bankruptcy looks at “how much can you afford.”  Meaning, using in Bankruptcy the court will look at income, household size and expenses to determine how much is anything is left on a regular and monthly basis can be distributed to the creditors.  Creditors in Chapter 13 Bankruptcy are most often paid only cents on the dollar at 0% interest resulting in lesser expenses relating to debt on a monthly basis and greater saving for the Chapter 13 Bankruptcy filers.

New Jersey Mortgage Foreclosure Defense and Collection Defense

Bankruptcy is not always the best option for a client.  When a client is facing a collection lawsuit or mortgage foreclosure action it may be the best option to defend the suit or engage in a settlement with the creditor.  If there is only one creditor or one lawsuit, it is most beneficial to explore a settlement arrangement with the creditor prior to a Bankruptcy proceeding.  Furthermore, where a legal meritorious defense exists, for example, an agreement has been reached in writing before the lawsuit was filed or payments were made to the Creditor and not credited a filed defense to the litigation is warranted.  

Work with Our Dedicated and Experienced Bankruptcy Lawyers

The lawyers at Sadek and Cooper Law Offices are proud to share our combined over 50 years of experience assisting clients in debt relief with you.  Please call our office at 856-343-4068 to schedule your free and confidential consultation with a lawyer.  We look forward to helping you.!

The Sadek & Cooper Difference

  • Over 4,000 Satisfied Clients
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  • No More Credit Card Debt
  • Low Flat-Rate Legal Fees
  • Free Initial Consultation
  • Convenient Locations Throughout the Philadelphia Region
  • No More Personal Loan Debt
  • Fast and Accurate Filing
  • Answering ALL your Creditor Calls
  • Save Your Home From Foreclosure
  • No More Medical Bills, Collections, and Other Debts
  • Payment Plans Available
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Center City Philadelphia, PA

Philadelphia Building 1315 Walnut Street
Suite 502
Philadelphia, Pennsylvania 19107
(215) 545-0008
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Northeast Philadelphia, PA

2375 Woodward Street
Suite 105
Philadelphia, Pennsylvania 19115
(215) 545-0009
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Bucks County, PA (Trevose)

5 Neshaminy Interplex
Suite 205
Trevose, Pennsylvania 19053
(215) 468-3328
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Cherry Hill, NJ

One Mall Drive
Suite 415
Cherry Hill, New Jersey 08002
(856) 890-9003
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Montgomery County, PA

630 Freedom Business Center Drive, #36
King of Prussia, Pennsylvania 19406
(610) 951-4655
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Delaware County, PA

Victoria Mills Business Center
1489 Baltimore Pike #218
Springfield, Pennsylvania 19064
(610) 432-3111
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Bucks County, PA (Levittown)

1609 Woodbourne Road
Suite 203B
Levittown, Pennsylvania
(215) 545-1055
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Moorestown, NJ

302 North Washington Avenue
Suite 101 West
Moorestown, New Jersey 08057
(856) 343-4068
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