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Bankruptcy Lawyer in Monmouth County can Help You Reduce Holiday Debt
Veitengruber Law • January 10, 2025
The holidays are a time of giving but can also be a time of escalating financial stress. Gifts, food for gatherings, travel expenses, decorations—it all adds up. Most consumers will use credit cards to cover at least some of these extraordinary costs. For many, creating the magic of the season can result in unmanageable debt. In a year of increased inflation and financial strife, this reality is bound to impact more folks than normal. If you are already regretting your financial decisions around the holidays, you have options. It's important to act quickly as ignoring this debt can cause further financial strain and potential long-term consequences.
Veitengruber Law is a bankruptcy and debt negotiation law firm in Monmouth County. We help individuals and families struggling with holiday debt every year. The solutions we offer are always tailored to the specific needs of our clients. We know there are many solutions to dealing with overwhelming debt, and each debt management plan will look different. Here are some options to explore if your December spending has overwhelmed your budget:
1. Debt Negotiation
If you find yourself juggling payments the entire month of December and beyond to afford holiday spending, it may be time to consider debt relief. Veitengruber Law offers a comprehensive approach to debt relief that considers the entire financial picture in order to provide the most effective debt relief strategy. We can help you determine which debts are causing the most financial stress and offer solutions for tackling those issues. Here are a few of those solutions:
- Negotiating with lenders: At Veitengruber Law, we understand how creditors and lenders operate. Through this insight, we can better negotiate with your lenders to agree to new terms on your debt. Most individuals are surprised that negotiating with creditors and lenders is an option. Many credit card companies would rather negotiate with cardholders and get some return on their investment. It costs these companies a lot of time, money, and effort to go through the collections process. Negotiating for better terms, a different payment plan, or even to settle your debt is a great way to finally squash unmanageable debt. You may even qualify for a hardship agreement that would allow you to lessen or defer payments depending on your circumstances.
- Debt consolidation: If you are struggling to pay back multiple sources of debt, consolidation may help you move high-interest credit card debts to one loan with a more reasonable interest rate. Consolidation can significantly reduce your monthly payments and the total amount of interest you pay over time. Consolidating debt can also help by providing a single monthly payment to focus on instead of multiple high-interest payments a month, making it easier to manage your finances and keep an eye on your debt.
- Loan modification: Changing the terms on loans for secured debts—like your home or car—can also shift your budget to allow you to put more money into paying down debts. If your mortgage is a huge aspect of your financial struggles, securing a loan modification agreement can remove some of the burden from a strained budget. Negotiating a lower interest rate or a lower monthly payment, extending the repayment period, reducing the principal owed, or even changing from an adjustable rate to a fixed rate can improve the terms in your favor.
Many debt relief options are available, and Veitengruber Law can help you find the one that is right for you.
2. Bankruptcy
We know—bankruptcy may seem like overkill for some holiday spending. But the truth is that if you put all or most of your holiday spending on credit cards, there are likely some more significant issues at work in your budget. Maybe you've lost income or employment, maybe you are dealing with costly medical problems, or maybe you got hit with significant home repairs during your holiday spending. Regardless of the reason, holiday spending can exacerbate existing financial issues. Often, the credit card bill received after the holidays is the final straw for individuals who have been considering a big financial change for a while. If this sounds like you, bankruptcy may be the best option for dealing with all of your debt, not just the debt you accumulated over the holidays.
What kind of bankruptcy you file can be tricky when considering holiday spending. For individuals filing for bankruptcy, your options are typically to file either Chapter 7 or Chapter 13. Bankruptcy laws dictate that any spending on "luxury" items or services in the 90 days before filing for bankruptcy cannot be discharged. Luxury goods include gifts. You also cannot discharge cash advances within 70 days of filing. This means that if you file in January, February, or March, you likely will not be able to discharge any debt accumulated around the holidays under Chapter 7 bankruptcy.
While every individual's financial circumstances are different, if you are looking to get rid of holiday spending debts, Chapter 13 is likely the best option for you. If you went over budget or experienced financial hardship while dealing with end-of-year debt, Chapter 13 can help you pay back this debt in a way that works for your financial situation. By re-organizing the debt under Chapter 13, you can spread out more realistic payments over three or five years, making it more affordable under your budget. This can be a great way to restructure your financial life in a way that reduces stress and sets you on the path to a brighter future.
3. Credit Repair
When your debt is out of control, your credit score will drop. How far it drops depends on how much debt you have and how you reduce that debt. Whether you are watching your score decrease due to immense debt or dealing with a low score in the aftermath of bankruptcy or debt relief, we can help. Our holistic approach to debt relief includes helping you improve your credit score in the wake of unmanageable debt. Your credit score is your financial power. With a poor score, you lose out on financial opportunities. We aim to help you become a stronger consumer so you can access these financial opportunities, empowering you to take control of your financial future.
We offer individualized counseling to help you improve your credit score, clear your credit report, and bounce back from financial difficulties with more knowledge and financial empowerment. We will offer a step-by-step plan to help you repair and rebuild your credit score. If holiday spending has tanked your credit score, we can help you find a plan to dig out of that debt and get your score back to where it was.
Financial stability is a common New Year's resolution, and it's a goal that is within reach. Veitengruber Law can help you assess your situation and formulate a plan to get you on a path to financial health in 2025. We offer individualized and appropriate solutions to tackle your debt worries, giving you hope for a brighter financial future. Being proactive about your debt at the beginning of the year will help you end next year on better financial footing.
Real estate transactions involve high-stakes legal and financial dealings. The legal issues that can come up during a transaction can bring a real estate deal to a screeching halt. Some of the most common real estate law issues can create significant legal and financial distress for buyers and sellers. Real estate attorneys are there to help you avoid legal trouble and advocate for your rights if you find yourself dealing with legal issues. Veitengruber Law is a knowledgeable, experienced real estate attorney in Monmouth County. We have a deep understanding of real estate law and tons of experience helping clients navigate legal issues to fulfill their real estate goals. The laws that guide real estate transactions tend to be state-specific and sometimes even include local laws and statutes. A successful real estate deal requires an understanding of purchase agreements, contracts, title searches, property inspections, compliance with zoning and land use regulations, and other aspects of due diligence. A thorough knowledge of real estate law can be vital when you need to act decisively. Working with a real estate attorney from the beginning can help you mitigate legal risks and protect your rights and interests. At Veitengruber Law, we believe buying or selling property in New Jersey should be exciting, not headache-inducing. But if legal issues arise, we are here to help. Here are some common real estate problems that we offer legal advice for in Monmouth County: 1. Contract Disputes The purchase agreement or contract is likely the single most critical document throughout any real estate transaction. The contract determines a timeline for the transaction, establishes the rights and responsibilities of all involved parties, and indicates under which circumstances a party is entitled to exit the contract. After signing, you are legally bound to the contents of the contract. This is why it is incredibly important for a real estate attorney to look over the document before you sign anything. Vague or poorly written contracts can often result in contractual issues between the buyer and seller. Common issues include failure to disclose, failure to meet financing deadlines, and confusion over what is and is not included in the sale. You can squash these problems from the beginning by working with an experienced attorney to draft a customized contract. But if these issues arise later in the process, an attorney can still help you negotiate a path forward that protects your interests. Without an attorney, these disputes can drag on, costing you more money, delaying closing, and potentially landing you in court. At Veitengruber Law, we can review and revise contracts to offer better legal protection. When issues arise, we have the expertise needed to minimize the impact on the deal and keep you on schedule to close. 2. Title Disputes and Liens When you purchase a new property, a title company will perform a title search. This search is intended to show the full legal history of a property, including ownership and legal claims. A title search determines if the property in question is free and clear of any entanglements that could cause legal issues for the new owner. The title search is intended to uncover the owner of a property and determine if that property has any liens due to debt, like unpaid property taxes. A title search can also reveal any easements or restrictive covenants applicable to the property. Because debts and legal issues like lawsuits can follow the property—instead of the owner—it is critical for the new buyer to understand the potential problems associated with the property. If issues uncovered in the title search are not resolved prior to the sale, they can put the buyer and new owner at significant risk for legal problems. Attorneys are expert researchers who can help you determine potential issues uncovered in the title search report. We can help you rest assured that the property you purchase is free and clear of any encumbrances. If the property is not clear of problems, we can work quickly to resolve any dispute to ensure the transaction continues smoothly and on time. 3. Zoning and Permitting Issues Zoning laws regulate how real estate can be used, and these laws can vary from municipality to municipality. Buyers purchasing a property with the intention of utilizing it for a specific purpose may find they are not legally able to do so. A residential-zoned property cannot be used commercially and vice versa. Even modifying an existing property can require permits or result in fines and legal action. A skilled attorney can help you navigate these regulations and ensure you can use your property as intended. An attorney can help you with zoning variances and the permitting process to avoid costly setbacks. 4. Disclosure Failures There are some specific defects that sellers are required to disclose under NJ law. These are typically more severe issues like water damage, foundation defects, pest infestations, roof issues, plumbing issues, and other high-dollar repairs. Undisclosed issues that the new homeowner must repair can be costly—and even lead to a lawsuit. For buyers, an attorney can establish in the contract what kind of damage or repairs a seller is responsible for prior to closing. After inspection, an attorney can review the report and determine if any undisclosed issues must be addressed before the sale moves forward. Attorneys can re-negotiate the sale based on the inspection findings to protect their client's interests. If undisclosed issues pop up after closing, an attorney can help the new homeowner take legal action against the seller to recoup repair costs. An attorney can guide a seller through the disclosure process to ensure they are not accidentally withholding disclosure of any major issues. If problems the seller was unaware of come out in the inspection report, the attorney can negotiate with the buyer for a path forward that doesn't jeopardize the sale. 5. Backing out of a Contract There are many reasons someone may want to back out of a real estate contract. Regardless of the reasons, exiting any contract can be incredibly difficult. Contracts are legally binding. If you have worked with an attorney from the beginning, they may have revised your contract to include contingencies allowing you to legally back out of the contract. These contingencies can refer to a lack of financing, issues uncovered in the inspection, inability to sell/purchase another property, etc. Just as each real estate transaction is unique, the best way to back out of a contract will hinge on the specifics of the situation. Working with a trusted, local real estate attorney is the best way to achieve an agreeable outcome and avoid legal trouble. Buying or selling property in NJ is a major investment and a huge legal and financial transaction. Having experienced legal representation from the start is critical to ensuring a successful transaction. Veitengruber Law offers personalized support and expert legal advice in Monmouth County. We can help you fulfill your real estate goals, advocate for your interests, and protect your investment.
Monmouth County continues to experience a highly competitive market. From the end of 2024 through the first two months of 2025, Monmouth County has seen closed sales increase despite tightened inventory and increasing median list prices. With proximity to major metro centers and the idyllic attraction of the shore, competition for residency in Monmouth County is high. This market solidly favors sellers, while buyers are urged to move quickly and decisively. To ensure success, most buyers and sellers enter this market with the adept guidance of a real estate agent. But what about a real estate attorney? While it is not a New Jersey requirement to work with a real estate attorney during real estate transactions, it is highly advisable—especially when there is intense competition. Real estate agents are knowledgeable professionals whose expertise can be invaluable for buyers and sellers. However, the laws surrounding real estate are complex, and it is equally important to have a legal expert on your side when you purchase or sell property. Here are just some of the ways a real estate attorney can protect your legal interests throughout any real estate transaction: 1. Protection Against Legal Issues Purchasing or selling a home in NJ is a complex financial and legal transaction with many moving parts. It is highly possible that legal issues can arise. While real estate agents can guide you through the process, they cannot give you actual legal advice. A real estate agent may not be knowledgeable of common contract law, statutory real estate law, or any other legal issues that arise. On the other hand, an experienced real estate attorney will be up to date on the latest laws surrounding real estate transactions. They will be able to handle any complex legal issues quickly, so you are not stuck in legal limbo waiting for a resolution. If you run into problems with easements, zoning restrictions, or title issues, a lawyer can help you protect your rights and find a speedy solution. Similarly, a lawyer can help you understand your legal obligations as a seller or buyer. They can ensure you do not accidentally shirk your agreed-upon legal responsibilities. If you need to back out of a contract, they can explain your options and guide you through the process to limit legal fallout. There are real legal consequences for missteps when purchasing or selling a home. A knowledgeable lawyer can help you avoid or limit these consequences. 2. Your Best Interest is Protected Real estate transactions involve a ton of different parties. The buyer, seller, and agents representing them have individual interests in the transaction. Real estate agents work hard on behalf of their clients, but there are no obligations for the agents to have a legal duty to their clients. Because most agents make their money on commission, they have a vested financial interest in the sale. Alternatively, real estate attorneys have a specific fiduciary legal duty to always act in their client's best interests. Your attorney's job is to protect your rights. Period. They will offer advice to help you make an informed decision that is best for you. 3. Creating a Robust Contract The contract you sign at the beginning of a property sale is likely the most crucial document throughout the entire transaction. It sets out the terms of the sale and guides the specific conditions that must be met for a sale to continue to closing. Most real estate agents utilize boilerplate contracts with simplified terms that can apply to a wide range of property sales. The generalized nature of these contracts can leave buyers and sellers open to legal issues. And while real estate agents may have a cursory understanding of contract law, they are likely not legal experts. An attorney will be intimately familiar with contract law. They can draft a contract specific to your situation and include contingencies to protect your legal rights more effectively. The more specific the contract is, the better your chances of getting exactly what you want from the transaction. 4. Contingencies and Concessions Boilerplate contracts will likely not include the contingencies or concessions that can protect your interests. For buyers, working with an attorney who can advise on adding any contingencies or concessions in line with your goals can make a huge difference in the transaction's success. Contingencies offer buyers and sellers an extra layer of protection within the contract, offering a way to back out of a contract if the sale is not going according to plan. While there are some common seller contingencies, the vast majority of contingencies work in favor of the buyer. These include: Inspection Contingency: This outlines what should happen if any significant defects with the property are discovered during the inspection. The contingency can include who is responsible for these defects, how they should be remedied, and if the contract can be canceled based on the findings of the inspection. Appraisal Contingency: This is included to protect the buyer in the event the appraisal of the property comes in under the market value for the home. Financing Contingency: This protects the buyer from being forced to go through with a transaction if they cannot secure financing through a mortgage or other loan. Sale of Current Residence Contingency: Buyers can also include a contingency that closing on their new home can only happen after the sale of their current home. Seller's Contingency on Purchase of a New Property: Sellers can also make the sale of their home contingent on the purchase of a new residence to ensure they have a place to go after closing. 5. Negotiating Both real estate agents and lawyers are trained negotiators, but only lawyers will be able to utilize the law to negotiate on your behalf. Real estate attorneys have a ton of experience working with insurance companies, the government, buyers, sellers, and real estate agents. They can negotiate on your behalf and in your best interest while utilizing the full extent of their legal knowledge. The addition of an attorney to your real estate team can give you the extra edge, especially in a competitive market. 6. Peace of Mind At the end of the day, when you work with an experienced real estate attorney, you are gaining peace of mind. You can rest assured knowing that a skilled professional is looking out for your best interests and that every aspect of your sale is legally sound. You can spend less time worrying about the complexities of buying or selling property and focus on realizing your goals. When you need an experienced real estate attorney in Monmouth County, you can count on Veitengruber Law. We are committed to serving the needs of our community by staying on the cutting edge of real estate law. We have an excellent relationship with many real estate professionals in our area. If you want to buy or sell a Monmouth County property in 2025, Veitengruber Law can help you achieve your goals.
The short answer: right now! Estate planning is often thought of as end-of-life planning—but that's not really the case. From the moment you become a legal adult, you need an estate plan. Estate plans include your last will and testament, yes, but they also include so many directives and legal protections for when you are still living. Veitengruber Law is an experienced estate planning attorney in Monmouth County. We work with clients at all life stages to protect their interests and establish their legacy. Here are some ways we can help you plan for the future at any life stage. 1. Legal Adulthood From the moment you turn 18, you are a legal adult. This comes with new privileges but also a lot more responsibility. You are now legally responsible for your finances and power of attorney. Even if you do not have many assets to protect, establishing an estate plan from the beginning will help you ensure that your wishes for your life are legally protected. An estate plan will help you designate beneficiaries for any accounts you have, determine who you want to be in charge of your legal and financial affairs if you become permanently or temporarily incapacitated, and who you want to make medical decisions for you if you are unable. Regardless of how old you are, you deserve to have your wishes legally protected. 2. Homeownership Once you are a legal homeowner, you will need to either revise your estate plan or seriously consider establishing one. Purchasing a home is likely one of the biggest investments you will make. Protecting this major asset is critical for the well-being of your investment, as well as the well-being of any loved ones sharing your home. An estate plan can help you plan for what should happen to your home once you are gone. 3. Marriage and Children If you are married or have children, you must seriously consider establishing a robust estate plan to protect your assets and your family. Combining assets during marriage is a crucial time in the estate planning process. You need to determine what assets you will own independently and jointly and what happens to those assets in the event of one or both spouse's deaths. This is especially important after the birth of your first child and every subsequent birth thereafter. In fact, most people begin to seriously consider estate planning as they determine the guardianship rights of underaged children. However, even for adult children, establishing clear inheritance designations is in the best interest of all parties involved. You will need to revise your estate plan as you have more children or even grandchildren. 4. Divorce and Loss As the people in your life change, so should your estate plan. If you go through a divorce or lose a spouse or other beneficiary, your estate plan will need to be updated. Any changes should be made promptly to accurately reflect your current wishes and desires. Estate planning can seem intimidating. Few people want to think about what will happen to their loved ones and assets if the worst should happen. But the sooner you have an estate plan in place, the better you will be able to protect the people and things you care about. Veitengruber Law can help you protect yourself, your assets, and your loved ones.
While the financial realities of purchasing or selling a home are typically at the forefront of people's minds as they enter the housing market, the complex legalities of real estate transfers are often an afterthought. In New Jersey, you are not required to obtain a real estate attorney when buying or selling a home. However, navigating this complex transaction without the expertise of a real estate attorney is rarely a good idea. If you want to purchase or sell a property in Monmouth County, Veitengruber Law is an experienced local attorney with years of successful real estate law practice. Here are just some of the ways working with a real estate attorney can give you an advantage in any real estate transaction: 1. Drafting, Reviewing, and Negotiating Contracts Real estate attorneys will often utilize boilerplate contracts in real estate transactions. These contracts typically include the standard terms of a real estate sale and vague language that can apply across various situations. While these standardized contracts offer some legal protections for the buyer and seller, they are not nearly as effective as customized contracts. New Jersey real estate transactions require a three-day attorney review period. During this time, it is critical to have an attorney look over the contract. A skilled attorney will likely suggest adding clauses or specific language to better protect their client. These amendments, if approved by both parties, can protect you legally throughout the transaction. Some common modifications include: Inspection Contingency: Clauses can be added to the contract to determine what kind of defects will be negotiated or can result in the termination of the contract Financing Contingency: This is a common provision that allows buyers to back out of a contract if they cannot get financing for the purchase Appraisal Contingency: This provision allows buyers to back out of a contract if the property is appraised for less than market value Clear Title Contingency: A provision that allows buyers to back out of a contract if the seller cannot provide a clear title While these are common contingencies, an attorney can include a clause to cover your concerns or interests in the transaction. 2. Protection Against a Lawsuit for Nondisclosure Sellers and real estate agents must follow mandatory disclosure laws when selling property. These laws determine which existing issues with a property the buyer must be made aware of before agreeing to purchase the property. If a seller does not correctly disclose these problems, the buyer can file a lawsuit against them for nondisclosure. Sellers can reduce their risk of lawsuits and liability by working with an experienced real estate attorney to ensure they follow all disclosure laws and guidelines. Even an honest mistake can lead to legal issues. Working with a lawyer can help sellers avoid legal headaches. 3. Negotiating After Inspection While not a legal requirement, the property inspection is one of the more critical aspects of buying a home. Typically, a buyer has 14 days from signing the contract to complete the inspection. The inspection gives the buyer an expert's overview of the property. The inspector's findings can help buyers assess if any significant issues need to be addressed by the seller before closing. An inspector will search for plumbing issues, roof damage, mold, termites, and other environmental hazards. After the inspection, they may suggest certain actions be taken before closing. An attorney can review this report with you and determine if your sales agreement should be re-negotiated. They can ask the seller for certain concessions based on the severity of defects found in the report. An attorney may negotiate with the seller for repairs or a price reduction. Sellers are not legally obligated to remedy any repairs, but the expert negotiations of a knowledgeable attorney can improve the odds of a more favorable outcome for the buyer. 4. Title Research Typically, a title company will perform a title search on the property you will buy. The title company reviews public records to determine the current owner, past owners, and previous deed transfers. They will also search for open court cases, claims against the property, liens, delinquent taxes, and other encumbrances. Your real estate attorney will assess the title history report to determine if there are any defects. If there are title defects, they can ensure they are cured before closing to prevent future losses for the buyer. An attorney can also help the buyer find title insurance that offers protection against future issues. Real estate attorneys can help sellers and buyers from contract negotiations to closing. Working with an experienced, knowledgeable local real estate attorney can give you an advantage in real estate negotiations and help you protect your legal and financial interests. If you are buying or selling in Monmouth County, Veitengruber Law can help.
Ensure your blended family’s future with Veitengruber Law estate planning. Learn how an estate planning attorney works in Monmouth County, NJ. Call 732-695-330.
You've decided to file for bankruptcy. Sometimes, making this huge decision feels like a weight has been lifted, especially if you have been struggling with unmanageable debt for quite some time. However, for some, it brings on a whole new set of worries and questions: How will bankruptcy affect my credit? Will I be able to keep my home? Can I afford a repayment plan? Should I work with a lawyer? Bankruptcy attorneys are there to answer all of these questions and more. Enlisting the help of a skilled attorney can ease the stress of filing for bankruptcy and result in a more favorable outcome. If you are looking for a bankruptcy attorney - Monmouth County attorney Veitengruber Law can help. Here, we will explore all the ways an attorney can help your bankruptcy. Can I file for bankruptcy without an attorney? Yes, it is perfectly legal for individuals to file for Chapter 7 or Chapter 13 bankruptcy without the representation of a bankruptcy attorney. However, there are some major drawbacks to filing for bankruptcy alone, or pro se. Bankruptcy comes with long-term financial and legal repercussions. The process can be complicated, and the laws may be confusing to navigate by someone who is not familiar with New Jersey bankruptcy law. You must complete extensive paperwork on time and in compliance with state and federal laws. Even tiny mistakes can impact the effectiveness of your bankruptcy petition, leading to your case being thrown out. So, while you certainly can file for bankruptcy without the assistance of an attorney, it is not advisable to do so. An attorney can help you avoid hold-ups and penalties, protect your assets, and even rebuild your credit once your bankruptcy is resolved. When your entire financial future is on the line, it is best to work with an expert to save yourself from wasting time and money and causing yourself stress. How do I know it is time to reach out to a bankruptcy attorney? If you are considering filing for bankruptcy, it is likely time to call a bankruptcy attorney. Most people do not think of bankruptcy the first time they hit a financial speed bump. So, if you are looking into your options to tackle debt, reaching out to a bankruptcy attorney is a great first step. At Veitengruber Law, we understand that unmanageable debt does not come with a one-size-fits-all solution. We will never advise our clients to file for bankruptcy if another solution—like loan modification or debt negotiation—would be more beneficial. But if bankruptcy IS the right solution for you, we are here to demystify the process and offer knowledgeable legal advice. It is time to contact a bankruptcy attorney if: 1. You can no longer pay your monthly expenses. You do not need to be in a dire financial emergency to consider bankruptcy. In fact, the earlier you reach out for help from a bankruptcy attorney, the better. If you notice yourself continually putting off some bills to pay others, racking up late fees, or spending more and more of your budget towards debt—it is likely time for a financial change. Again, this doesn't mean that bankruptcy is necessarily a definite. There are many solutions experienced debt management attorneys can offer outside of bankruptcy. But if bankruptcy is the right option for you, the earlier in your financial troubles that you file, the better. 2. Creditors and collectors are calling you. If your creditors or lenders are calling you non-stop or your debts have been sent to collections, it is time to contact a bankruptcy attorney. Your creditors and lenders will expect payment on the debts you owe, and they will make attempts to collect on this debt, especially if you are habitually past due. If this goes on long enough, creditors can threaten a lawsuit against you and take you to court to force you to pay back your debt. The court can place a lien on personal or business property or approve wage garnishment. Avoiding these legal consequences is in your best interest. A bankruptcy attorney can help you avoid lawsuits, stop a lawsuit in progress, and hopefully settle some of your debts. 3. You're facing foreclosure. The possibility of losing your home is scary. If you are behind on your mortgage or creditors are trying to seize your property, bankruptcy can be a great foreclosure defense strategy. When you file for bankruptcy, you enter into the automatic stay period. The automatic stay will stop all creditors' attempts to collect on debts. This includes any attempts to foreclose your property. An attorney can also guide you through how different bankruptcy exemptions can help you save your home while you go through the bankruptcy process. 4. You have filed for bankruptcy before. If you have filed for bankruptcy before, you may think you understand the process and, therefore, do not need the help of an attorney. However, there are different rules for filing for bankruptcy again after already filing previously. If you previously filed for Chapter 7 bankruptcy, you have to wait eight years before filing for Chapter 7 again and four years before filing for Chapter 13. If you previously filed for Chapter 13 bankruptcy, you must wait two years after your discharge to file for Chapter 13 again and four years after your discharge to file for Chapter 7. An attorney will be able to guide you through this process and help you understand the timelines as they apply to your specific case. 5. You're confused about which type of bankruptcy to file. Most individuals and couples file either Chapter 7 or Chapter 13 bankruptcy. Each type of bankruptcy comes with its own set of benefits and drawbacks. Which one is right for you will depend on your specific circumstances. Each type of bankruptcy comes with its own laws and rules, requirements, filing deadlines, and procedures. Reading through bankruptcy codes can be confusing, and with so much conflicting information online, it is wise to enlist the help of an expert to guide you through the process of deciding which type to file. An experienced bankruptcy attorney will be able to listen to the specifics of your case and help you determine the best path forward. They will likely help you do the means test to decide if you qualify for Chapter 7 bankruptcy. They may also do a deep dive into your finances to see if you can afford a repayment plan under Chapter 13 bankruptcy. The benefits of each type will weigh differently to different people. A good attorney's job is to help you weigh these benefits and drawbacks to come up with the best solution for you. Bankruptcy is a highly powerful legal and financial tool. It can provide a clean slate if your financial troubles have become too much to handle. If you are in need of a bankruptcy attorney – Monmouth County attorney George Veitengruber and our team can help. We have been helping clients through the bankruptcy process in NJ for over a decade. Do not wait for your financial situation to get worse. Call us today for a free consultation.
When creating an estate plan, you are thinking through some of the most important decisions of your life. What happens to your money and assets? Who will care for minor children after you are gone? How will you protect and provide for loved ones? What kind of legacy will you leave behind? It can be stressful to try to organize your thoughts on all these decisions alone. Working with an attorney highly recommended when tackling estate planning. But making the decision about what lawyer to work with when you are beginning your estate planning journey can be similarly overwhelming. A Google search of your area's estate planning attorneys can yield a deluge of results. But how do you decide which attorney is the right one for you? Veitengruber Law is an experienced estate planning lawyer in Monmouth County. We understand the complexities of the laws that guide estate planning and how important it is to work with an attorney that cares about your future. Here are some of the things you should consider in your search for an estate planning attorney: 1. They Specialize in Estate Planning If you find an attorney advertising as a jack of all trades, they may not be the best fit for your estate planning needs. When it comes to planning for your future, it is best to work with an experienced specialist who understands the intricate details of estate law. These experts are more likely to correctly identify potential problems with your estate planning and offer solutions that will work. There are so many variables to consider when strategizing your estate plan. Not every estate plan strategy will lend itself well to every situation. For the best results, it is essential that you work with an attorney who is a proven estate planning specialist. 2. They Are Familiar With Local Laws While it's advisable not to restrict your search to a very small geographic area, your estate attorney should at least be based in your state. It's crucial for your attorney to have a deep understanding of state-specific estate laws. New Jersey, for instance, has very specific inheritance laws with tax implications. Working with a knowledgeable NJ estate planning attorney can help you avoid placing a tax burden on your heirs and loved ones. A local attorney will also be more likely to stay abreast of any changes to the law in your state, ensuring you are updating your plan when necessary. 3. They Were Referred by Another Professional If you already work with a trusted professional who does not specialize in estate planning, ask them for a referral. Other attorneys, financial advisors, or CPAs often have connections with other professionals in parallel fields—like estate planning. These personal recommendations will help you narrow down your search to a few trusted professionals. You can also ask for recommendations from your close friends and family who have already gone through the estate planning process. Internet searches, specialist directories, and newspaper advertisements can be misleading. Talk to the people you trust to find out who they would trust with their future. 4. They Offer Clear Communication Working with someone that you have good communication with is essential when it comes to estate planning. Clear and consistent communication from an attorney is critical to a smooth, organized estate planning process. Estate planning is complex and involves a lot of moving parts and sensitive decisions. Working with someone who really listens to your needs before offering solutions and considers estate planning a conversation will likely result in a highly effective and customized estate plan. You should also ask a potential attorney how often they review and revise your estate plan and how best to communicate any needed changed from your side. 5. They Offer Comprehensive Options The best estate plan will be completely tailored to your specific circumstances and needs. If an attorney only offers cookie-cutter solutions and one-size-fits-all wills, they likely will not provide the same protections as a more experienced attorney. A good estate planning attorney will be prepared to help with advanced healthcare directives, establish trusts, set up a power of attorney, offer tax strategies, and more. Estate planning is so much more than a will. A good estate planning lawyer understands this and will help you come up with a comprehensive plan that protects your assets, your loved ones, and your legacy. 6. They Belong to Professional Organizations Membership in professional organizations in your area or in general can also indicate you are working with a committed professional. Attorneys who maintain active involvement in these organizations are more likely to be up-to-date on estate planning law. They are also more likely to have access to continued education and increased networking with other estate planning professionals. When you work with an attorney affiliated with a professional organization, you and your family get to benefit from all of these connections. 7. They Are Willing to Meet for an Interview If an attorney is unwilling to meet you before getting down to business, that should be a big red flag. Not every client will click with every attorney. Come to the interview or consultation prepared with a list of questions about the attorney, their practice, and how they handle estate planning. Ask about their team, their experience, and how payment works. Be honest about your expectations of an attorney, and don't be intimidated by the process of "shopping around." You are trying to find the best attorney to develop an open and honest relationship with as you work on your estate plan. 8. They Connect With You A good estate attorney will care about developing a rapport with you based on mutual trust and respect. The sometimes sensitive nature of estate planning means you need to be able to really trust the person you are working with. The decisions you have to make can be difficult and overwhelming. Find an attorney that seeks to understand your concerns and goals before the planning process begins. A great attorney will check in periodically to make sure you are fully confident in the estate plan you are creating together. You should feel comfortable asking questions, knowing you will receive an unbiased explanation of your options. If you are looking for an estate planning lawyer in Monmouth County, Veitengruber Law is the professional legal team you need. We have been doing wills, trusts, and estate planning in the area since 2010. We understand how overwhelming it can be to plan for the future, and our goal is to simplify the process. Our personalized legal solutions can help you protect your assets and safeguard the well-being of your loved ones after you are gone. We pride ourselves on having a sterling reputation in our community and being a law firm that genuinely cares about finding the best outcomes for our clients. It is never too early or too late to start estate planning. Reach out to us today for a free consultation.
When you are dealing with unmanageable debt and considering bankruptcy, it can be challenging to determine which kind of bankruptcy is right for you. Chapter 7 and Chapter 13 bankruptcy offer different solutions for eliminating debt. Each type of bankruptcy has a different method of paying back your creditors, and each provides specific protections and benefits for the debtor filing. Veitengruber Law has extensive experience working with clients to file Chapter 7 and Chapter 13 in Monmouth County. Here are a few of the main differences between Chapter 7 and Chapter 13. Understanding these differences can help you make an informed decision about your financial future. 1. Liquidation v. Reorganization Chapter 7 bankruptcy is referred to as liquidation bankruptcy, while Chapter 13 bankruptcy is frequently called reorganization bankruptcy. The mechanism for dealing with debt under Chapter 7 includes liquidating assets to pay back creditors. While you can protect specific assets under Chapter 7 based on federal or state exemptions, unexempt property can be sold to raise the funds needed to pay some of the debt owed to creditors. On the other hand, Chapter 13 is a reorganization of debts that allows you to pay back creditors over three or five years with agreed-upon monthly payments. Unlike Chapter 7, which allows a discharge after a few months, Chapter 13 debts are discharged only at the end of a successful repayment plan. 2. Eligibility Requirements Chapter 13 and Chapter 7 have different eligibility requirements. For Chapter 7, you are required to pass the Means Test. This financial test determines if your income is low enough to be eligible for Chapter 7 bankruptcy. This can either be because your take-home income is below the median income for your state OR your expenses exceed your income, making it impossible for you to complete a Chapter 13 repayment plan successfully. Similarly, you must prove that you have the income to realistically make payments under a court-approved repayment plan. 3. Benefits and Drawbacks There are general benefits and drawbacks to both kinds of bankruptcy. Under Chapter 7, debtors get a quick discharge and a fresh start but may lose valuable or beloved property in the process. Under Chapter 13, debtors can keep their property and catch up on missed or late payments on non-dischargeable debt, but they must make all monthly payments in full and on time for the entire repayment period. These general benefits and drawbacks will impact individual filers in different ways. There will also be some aspects of each type of bankruptcy that benefit some while hurting others. The individualistic nature of how bankruptcy impacts each person is why it is crucial for those seeking bankruptcy to discuss their options with an experienced attorney first. Veitengruber Law offers a personalized approach to debt solutions in New Jersey. We understand that the circumstances surrounding your debt troubles are as unique as you. Getting out of unmanageable debt is not a one-size-fits-all solution. Whether you are considering debt negotiation, load modification, Chapter 7 bankruptcy, or Chapter 13 Bankruptcy in Monmouth County, we can help. Reach out to us for a free consultation on your options today. We are here to listen, understand, and provide you with the best possible solution for your financial situation.
Foreclosure rates increased at the end of 2024 across the country. Economic turmoil is beginning to affect the bottom line for many US homeowners, including NJ residents. In the last quarter of 2024, one in every 2,638 housing units experienced foreclosure in NJ. As the cost of living increases, more and more NJ homeowners are struggling to cover their housing costs. But if you are worried about the possibility of foreclosure, you do have options. Veitengruber Law is an experienced Monmouth County foreclosure defense attorney. We have a proven history of successfully helping NJ homeowners find foreclosure alternatives. Here are some of our foreclosure defense solutions: 1. Bankruptcy While bankruptcy isn't the right solution for everyone, it is a formidable financial tool that can provide much-needed relief. It can be used to stall foreclosure or eliminate the need for foreclosure. When you file for bankruptcy in NJ, you enter an automatic stay. This court order bars creditors from attempting to collect on debts, including your mortgage lender. The automatic stay will stop legal proceedings--including foreclosure--until your bankruptcy case is settled. During this automatic stay, you and an experienced bankruptcy attorney can devise the best plan for your circumstances. If you have the financial ability to pay back the arrears owed to your mortgage company, Chapter 13 bankruptcy can help you do just that. Through a court-approved repayment plan, you can pay back mortgage arrears and other debts over a three- or five-year period. This will allow you to get back in good standing on your mortgage without losing your home. If you are unable to pay back the arrears on your mortgage and need to get out of the financial obligations surrounding homeownership, Chapter 7 bankruptcy may be the better option. While it is unlikely that a bankruptcy trustee would sell your home unless it has substantial equity, Chapter 7 can help you get your finances in order and eliminate debt while awaiting the ultimate foreclosure of your home. 2. Mortgage Loan Modification Most mortgage lenders have programs available to help homeowners modify their mortgages in the face of financial challenges. However, getting approved for a loan modification can be extremely difficult. One mistake in paperwork can end in denial of the modification. When you work with an experienced foreclosure defense attorney, the chances of your loan modification getting approved increase. We can help you modify your mortgage to lower your monthly payments or help you eliminate past-due debt. Frequent loan modifications include reducing the interest rate, adding past-due payments to the end of the loan, eliminating arrears, or even extending the life of the loan. Foreclosure attorneys understand what mortgage companies are looking for and what they need to hear to be willing to negotiate a modification that works for everyone. 3. Short Sale If you are unable to or uninterested in saving your home, a short sale is an option that can put you back in control. It is typically more beneficial to the homeowner than foreclosure. With a short sale, a homeowner can walk away from the property without mortgage obligations and without the black mark of a foreclosure showing up on a credit report. In a short sale, you sell your home for less than what you owe on the house. Your lender must agree to the short sale and decide if they will consider the funds from the sale sufficient to "pay off" what you owe. Many mortgage lenders will consider a short sale preferable to time-consuming and expensive foreclosure proceedings. However, working with an attorney to help you negotiate a short sale can improve your chances of success. 4. Fraud and Legal Violations There are many complex laws surrounding homeownership, foreclosure, and mortgage loans. These laws are often put in place to protect homeowners' rights from the unfair practices of lenders. For example, lenders are required to follow specific rules for servicing your loan, including offering options to modify your loan. If your loan servicer is not allowing you to modify your loan, this can be considered a violation of your rights as a homeowner. Fraud or other violations of these laws can invalidate the foreclosure case. An experienced attorney can review your loan terms and ensure your rights are not violated. At Veitengruber Law, we understand how devastating it can be to lose your home. As a Monmouth County foreclosure defense attorney, we offer customized solutions to your foreclosure problems. You do not have to face this fight alone; we are here to help. Call our offices today for a free consultation.
As anyone who has ever purchased a home can tell you, buying a property is a lot more involved than simply paying the downpayment and signing on the dotted line. Real estate transactions involve intricate legal and financial processes that can sometimes be confusing. Not only are you likely working with lenders, competing against other buyers, and negotiating for a fair deal—you have local, state, and federal laws to grapple with. When mistakes happen, they can be costly. In New Jersey, you do not have to work with a real estate attorney to purchase a home. Still, many home buyers seek the guidance of an experienced attorney to help them navigate NJ real estate law. If you are a hopeful homebuyer looking to purchase a home, you may want to consider the benefits of working with an attorney. Enlisting the service of an attorney will help you be a more informed and protected home buyer. If you choose to work with a real estate attorney, here are six questions you can ask them as you go through the home buying process: 1. How can the real estate contract protect my interests? In New Jersey, any real estate contract automatically goes through the three-day attorney review period. While buyers and sellers are not obligated to utilize this period to have an attorney review their contract, it is highly recommended. Typically, if attorneys are not involved in drafting the sales agreement, a boilerplate agreement is used to facilitate the transaction. This standard agreement should cover the basics, but it will protect your legal rights and personal interests as much as a customized, attorney-created contract can. Your real estate attorney can review and amend your contract to protect your rights and best interests throughout the transaction. They can also insert clauses that will make it easier for you to legally exit the contract if you face any setbacks, like a bad inspection report or the inability to get financing. A customized contract is typically in the best interest of all parties and helps create a smoother transaction overall. 2. Are there any deed restrictions? Every home comes with a deed. The deed to a home or property is a legal document that legally passes ownership from one owner to another. Unlike a title, which is the actual right of ownership, a deed is essentially the paper trail that shows the change in ownership from the previous owner to the current owner. There are some things you should look for when you review the deed to your new home. Some deeds come with restrictions. Deed restrictions are limitations on your right to utilize your property as the owner. These restrictions typically exist due to a homeowners' association or agreements put in place at the bequest of community members. Deed restrictions can cover many things, from the color you can paint your home to if you can have sheds or fences in your backyard. Before proceeding with the transaction, you should review any deed restrictions and determine if they align with your lifestyle. An attorney can help you carefully review the deed and assess your rights going forward if you disagree with any listed restrictions. 3. Are there any liens or claims on the property? When you purchase a home, you must do so with the full knowledge of any potential issues with the property. Attorneys are excellent researchers who can provide expert assistance in researching the history of a property and reviewing the legal documents associated with a property. Attorneys are adept at performing title searches, where they go through all public records to determine the legal owner of the property and the history of deed transfers associated with the property. Title searches can also help you discover building code violations, legal issues, or property claims like court judgments, liens, mortgages, and delinquencies associated with the property. Even if you were totally unassociated with the property when the above issues occurred, these encumbrances could diminish your ownership rights and lead to legal or financial headaches. An attorney can help you ensure that all potential problems with the property are resolved before closing so you can begin life in your new home without issues hanging over your head. Working with an experienced attorney for the title search process will help you protect your interests as a homebuyer. 4. Can a real estate attorney assist with my mortgage? Yes! There are a lot of moving parts in the homebuying process. One of those parts is securing financing if you are not paying for your home outright. There are a number of conditions that need to be met to secure a residential mortgage in NJ. Lenders will request a ton of paperwork and documentation from you to prove your financial standing and determine if you qualify for their financing options. A real estate attorney can review your financial documents to ensure that you meet all the criteria to get approved for your loan. An experienced attorney will also be able to ensure that you are following the conditions laid out in the loan contract and that everyone is in compliance with NJ residential real estate law. 5. Are there any tax implications with my purchase? Depending on your circumstances, you may have to consider the tax implications of your home purchase. For example, NJ has a Mansion Tax that applies to home purchases of residential properties of homes sold for $1 million or more. This 1% fee of the home's total sale price must be paid at the time of closing. You may also have to pay prorated property taxes to the seller. In NJ, property taxes are paid quarterly in advance. So, it is likely that the seller has paid the property taxes for the quarter in which the home is sold, despite the fact that they will not live at the property for the entirety of the quarter. Typically, the buyer is then responsible for reimbursing the seller for an agreed-upon portion of those property taxes. This amount will be due to the seller at closing. 6. The inspection or final walkthrough revealed issues. What can I do? An attorney can help you review the inspection report for a property to ensure that the seller has been honest and upfront about any issues with the home. If you have been working with an attorney from the beginning, they will likely have clauses in your contract that make the sale contingent upon specific standards being met. If these standards are unmet and the property has more issues than previously disclosed, your attorney can help. They will work with you to either negotiate for these issues to be resolved prior to closing or find a way to back out of the deal completely. Even if these issues are not noticed until the final walkthrough right before closing, your attorney can offer you the tools you need to navigate any last-minute problems. You have legal rights throughout this process, and an attorney can ensure those rights are respected. Buying a home is one of the most important investments you will likely make in your lifetime. Working with an attorney can help protect this investment from the very beginning. Veitengruber Law is an experienced, full-service real estate law firm in New Jersey. We have years of experience helping NJ residents sell and purchase property. NJ real estate law can be complicated, but your homebuying process doesn't need to be. We are ready to help you secure your dream home.