New Jersey Chapter 7 and Chapter 13 Bankruptcy Attorney

The Law Office of Robert Manchel

1 Eves Drive
Suite 111
Marlton, New Jersey 08053
USA

(856) 797-1500 or (866) 503-5655

www.bankruptcylawyer-nj.com/

Contact the Firm

Law Firm Overview

The Law Office of Robert Manchel is a bankruptcy law firm located in New Jersey. Mr. Manchel is Board certified as a consumer law bankruptcy attorney, by the American Board of Certification, which is accredited by the American Bar Association. Board Certification is highly regarded by bankruptcy practioners. Board Certification requires rigorous standards relating to experience, peer review, continuing legal education, sophisticated knowledge of bankruptcy law and integrity. The bankruptcy reform law specifically recognizes and acknowledges the credibility of the certification.

Robert Manchel has unmatched experience in New Jersey bankruptcy law. His entire practice is devoted to bankruptcy and mortgage foreclosure resolution. Mr. Manchel has created this website as a resource for his readership and it contains extensive information to educate you on your financial options regarding bankruptcy.

Year this Office was Established: 1994

Practice Areas

Real Estate

Practice Areas Description

- Chapter 7 Bankruptcy

The individual filing any bankruptcy case is called a “debtor”. A trustee is an individual that is assigned to review, administer and evaluate your case to determine whether you meet the chapter 7 bankruptcy law requirements entitling you to a discharge. The goal of a chapter 7 debtor is to obtain an order of discharge. This is a court order that reflects the elimination of debt. If the trustee believes that a debtor has met the requirements, the trustee recommends to the court and judge, that he/she receive an order of discharge. In general, a debtor’s lawyer should not file under this chapter unless the debtor meets the requirements.

- Chapter 13 Bankruptcy

The following are similarities to a chapter 7. The New Jersey debtor must include on the petition: income, expenses, all debt, creditors, assets, liabilities and financial information. A debtor may not pick and chose which creditors to include. Immediately upon the filing, no creditor may commence or pursue any action against the debtor. Furthermore, upon the filing, no creditor may contact the debtor by any means including by telephone or letter.

- Foreclosure

Initially, the foreclosure complaint is filed with the court. Within 2 to 3 weeks after the filing, the complaint (law suit papers) are served (handed to someone at your house). At the time of service, you continue to have time to avoid the sheriff's sale. In New Jersey, it is estimated to take approximately 6 months, from the commencement of the foreclosure process until the property is sold at sheriff's sale.

*Loan Modification

Today, the most widely used mechanism for resolving foreclosure actions and mortgage loan defaults in New Jersey, without bankruptcy, is through loan modifications. Due to the foreclosure crises, the mortgage companies are more willing to enter into a loan modification, than in years passed. A mortgage company is not required to modify a loan and any loan modification is voluntary.

*Mortgage Foreclosure Mediation

At this time, New Jersey is the only state that requires a mortgage company to submit to mediation to resolve a mortgage foreclosure action. Mediation is a face to face negation between the homeowner and the mortgage company's representative regarding a loan modification or other resolution regarding the mortgage and property. After the mortgage company files a foreclosure action with the court, the homeowner may file the appropriate documents with the state to commence the mediation process. Also, the homeowner may file with the court a stay of sheriff's sale for the purpose of pursuing foreclosure mediation.