I WAS DOING REAL WELL BUT I HAD AN INCIDENT WITH MY LAST EMPLOYER AND WAS OUT OF WORK FOR 6 MONTHS.  AS A RESULT, MY HOME WENT INTO FORECLOSURE AND I WAS DENIED A LOAN MODIFICATION.  CAN YOU HELP ME?

 

Taieblaw deals with people in this situation on a regular basis.  Recently, he helped a man from Cumberland County who had done very well in the past but fell behind on both of his homes and had a Sheriff Sale pending.

Mr. Taieb filed a Chapter 13 and devised a plan to help the gentleman reorganize his debt and save both homes.  In addition, since he filed Chapter 13, one of the mortgage companies has given him a trial payment plan which will hopefully result in a permanent loan modification. 

If you have a foreclosure pending or are behind on any debts, don’t play it alone.  Even though bankruptcy affects your credit, you will get yourself in deeper debt if you try to make payment plans with your creditors, especially if you’re in foreclosure, since the reinstatement amount keeps on increasing with additional legal fees.

Also, if you try to “settle” a debt, this will affect your tax liability since if you cut Discover from $10,000 to $5,000 the IRS will send you a 1099 and you will have to pay taxes on the $5,000 you saved.  Also, if you borrow from a retirement plan, you can have huge tax ramifications since a pension loan is taxable income.

Thus, if you fall into financial problems through no fault of your own, a bankruptcy petition will help you since it takes a universal approach to your debts.

Thus, contact TAIEBLAW at 856-235-4994 or visit our website at TAIEBLAW.COM to see how we have helped over 7,000 people with similar problems over the last 34 years.

Steven N. Taieb, Esq. has been a South Jersey Bankruptcy Attorney since 1985 and is board certified in consumer bankruptcy law by The American Board of Certification which is accredited by The American Bar Association.

PLEASE NOTE ON AUGUST 29, 2019

 WE MOVED OUR OFFICE TO:

THE ELLIPSE SHOPPING CENTER,

 4201 CHURCH ROAD, SUITE 15

MT. LAUREL, NJ 08054