As the current crisis continues, daily information is coming out regarding mortgage relief programs and foreclosure suspensions. The attorneys at Levitt & Slafkes continue to monitor these programs as they relate to New Jersey homeowners. The following is the latest update as of March 30, 2020.
New Jersey Specific Programs
As the current crisis continues, daily information is coming out regarding mortgage relief programs and foreclosure suspensions. The attorneys at Levitt & Slafkes continue to monitor these programs as they relate to New Jersey homeowners. The following is the latest update as of March 30, 2020.
New Jersey Specific Programs
As of the date of this writing we are barely two weeks into what could likely be the largest financial meltdown since the Great Depression. We have already been contacted by many of our Chapter 13 clients who have lost jobs or have reduced income who want to know what will happen if they can’t make their mortgage or Chapter 13 Trustee payment. The short answer is don’t panic yet. This is solely my opinions based on more than 30 years as a practicing bankruptcy lawyer.
As of the date of this writing we are barely two weeks into what could likely be the largest financial meltdown since the Great Depression. We have already been contacted by many of our Chapter 13 clients who have lost jobs or have reduced income who want to know what will happen if they can’t make their mortgage or Chapter 13 Trustee payment. The short answer is don’t panic yet. This is solely my opinions based on more than 30 years as a practicing bankruptcy lawyer.
We hope that everyone reading this is safe and is healthy. If you have lost your job or been furloughed because of the COVID-19 crisis, you are beginning to make the difficult choice of deciding what bills to pay first. You might not have money to make your car loans or car lease payments. We recommend that before you stop making the payments and running the risks of possible negative credit reporting and possible repossession, you reach out to your lender.
We hope that everyone reading this is safe and is healthy. If you have lost your job or been furloughed because of the COVID-19 crisis, you are beginning to make the difficult choice of deciding what bills to pay first. You might not have money to make your car loans or car lease payments. We recommend that before you stop making the payments and running the risks of possible negative credit reporting and possible repossession, you reach out to your lender.
We as a society are currently facing an unprecedented threat to both our physical and financial health. The internet and airways are full of offers of advice to help us protect our physical health. Not much has been written to address the severe financial hardship being felt as a result of shut downs, curfews, cancellations, layoffs and quarantines which are growing as fast as the virus is spreading.
The following is a list of suggestions for individuals who are now facing income loss and reductions due to the Coronavirus:
We as a society are currently facing an unprecedented threat to both our physical and financial health. The internet and airways are full of offers of advice to help us protect our physical health. Not much has been written to address the severe financial hardship being felt as a result of shut downs, curfews, cancellations, layoffs and quarantines which are growing as fast as the virus is spreading.
The following is a list of suggestions for individuals who are now facing income loss and reductions due to the Coronavirus:
Curious about how bankruptcy works and if it may be right for you?
Your first step is to set up a consultation with an experienced bankruptcy lawyer. Many people are nervous about meeting with a lawyer for the first time; especially when it involves discussing something as personal as their finances. It is important to remember that our New Jersey bankruptcy attorneys are here to help you get through these difficult times and get a fresh start in your financial life.
Curious about how bankruptcy works and if it may be right for you?
Your first step is to set up a consultation with an experienced bankruptcy lawyer. Many people are nervous about meeting with a lawyer for the first time; especially when it involves discussing something as personal as their finances. It is important to remember that our New Jersey bankruptcy attorneys are here to help you get through these difficult times and get a fresh start in your financial life.