Discussing Chapter 7 vs Chapter 13 in Monmouth County

Estate planning is one of those things that often gets put off. As an estate planning lawyer in Monmouth County, Veitengruber Law sees many clients who are unaware of the need for an estate plan. It can be tough to answer questions about what should happen to your assets and loved ones if the worst should happen. Approximately half of adults in the US do not have a will, and even fewer have a comprehensive estate plan. Some of these folks believe they do not need an estate plan because they do not have a significant enough estate. However, this misconception leads to legal battles and financial difficulties on a daily basis. Here, we will explore why you need an estate plan, regardless of the number of assets you possess. What is an estate? An estate is a legal and financial term used to refer to all of the assets and liabilities you own. It includes items such as your home, car, personal belongings, debts, insurance policies, and retirement accounts. So, while many folks may think their possessions do not amount to an "estate," the truth is that most adults will have assets and liabilities that need to be dealt with after their death. An estate plan will also cover other aspects of your future through a power of attorney (POA) or medical directives. This gives you the power to elect a trusted loved one to control your medical care and finances if you are incapacitated. Planning for the future requires a well-thought-out plan. An estate plan can help you feel more at peace with the unknown variables of the future. We think everyone deserves the assurance of a great estate plan, but if you fall into any of the categories below, you must have an estate plan in place: 1. You Have Minor Dependents If you have minors in your care, you need to have an estate plan in place to prepare for their care in the event of your death or if you are no longer able. You must consider how you will provide financially for these dependents through life insurance or even a trust. You will also need to elect a trusted individual to take over guardianship of your children or other dependents. Discussing this possibility with the guardian you select before naming them in your estate plan is advisable. Without an estate plan in place, determining the guardian for minor dependents can turn into a nasty legal battle—one that does not include your wishes for your children. Making these decisions beforehand can save your loved ones a lot of heartache at an already difficult time. 2. You Are Preparing for Medical Problems You can be happy, healthy, and thriving one day and suddenly face medical uncertainty the next. Accidents, sudden diagnoses, or worsening chronic issues can quickly shift your medical prognosis. The uncertain nature of life is one of the biggest reasons you should have an estate plan, especially if you are planning for medical issues in the near future. A critical aspect of estate planning includes preparation for if you become incapacitated. A financial POA will allow you to name someone you trust who is responsible for managing your financial affairs if you are unable to do so. You can also name a healthcare proxy through a healthcare or medical POA. This person will be allowed to make healthcare decisions on your behalf if you are unable to do so. While these documents are suitable for anyone to have, if you are imminently facing a medical battle, it is critical to have these documents to protect your wishes for your medical care. 3. You Have Complex Family Relationships When you pass away, your estate enters the probate process. This includes dividing your assets and giving them to beneficiaries. If you do not have an estate plan in place to determine which beneficiaries get which assets, the state will decide for you. The state utilizes specific rules that tend to favor a more "traditional" family structure: one marriage with one spouse who shares all of your children. If you are unmarried and do not have children, the beneficiary next in line—typically parents or siblings—will be selected to inherit. If you do not have parents or siblings, the state will find your closest living relative. For some, this may be acceptable and in line with their wishes. However, for many others, these inheritance rules simply will not work. Divorce, children with multiple partners, estrangement, death, and blended families can all disrupt the efficacy of traditional inheritance laws. By establishing an estate plan, you can choose exactly who your beneficiaries are and determine exactly who gets what. As your life changes and the people in your life change, so should your estate plan. Veitengruber Law is a seasoned team of estate planning lawyers and professionals based in New Jersey. We can work with you to solidify a plan that offers legal reassurance and peace of mind for your future.

Estate planning is way more involved than just creating a will. While most folks think a will can protect all their interests, this is simply not the case. A robust estate plan often includes a will, a power of attorney, medical directives, beneficiary designations, and trusts. Trusts help ensure that your assets are distributed according to your wishes and can help your beneficiaries minimize estate taxes. If you are considering setting up a trust in NJ, Veitengruber Law can help. Here are some of the top questions we receive about trusts from our clients. Q: What kind of trust do I need? A: There are several different kinds of trusts available to NJ residents. Each type of trust is specifically designed to serve various purposes with different benefits and restrictions. Here are some common types of trusts and what they are used for: Revocable living trust: This type of trust allows you to retain control over your assets and change the terms of the trust while you are living and capable. Once you pass, control of the assets in the trust will pass to those indicated in the terms of the trust. Irrevocable trust: This type of trust legally transfers assets to a trustee who manages the trust's assets for all designated beneficiaries. It is irrevocable because the grantor (or the person creating the trust) cannot change the terms once the trust is established. Special needs trust: This type of trust is established to protect individuals with special needs or disabilities. An SNT allows the beneficiary to receive financial support from the trust without jeopardizing access to benefits like Medicaid and SSI. Charitable trust: This is a legal arrangement where a trustee manages the grantor's assets to benefit a charity or organization. These provide some tax benefits and ongoing philanthropy even after the grantor's death. Q: What are the benefits of establishing a trust? A: The main reason to set up a trust is to avoid the New Jersey probate process. Probate can be cumbersome, time-consuming, and costly for beneficiaries. When your assets are included in the probate process, they become vulnerable to public scrutiny and creditors. Trusts allow you to safeguard your assets while living and distribute them privately once you are gone. Beneficiaries of trusts do not have to go through the probate process and can avoid potentially hefty estate taxes. Q: How do I create a trust? A: The first step in creating a trust is to determine which kind of trust best suits your specific circumstances. Not all trusts will protect your assets the same way, and each will have different implications for tax purposes. Once you decide what kind of trust will be most beneficial, you need to select a trustee to manage the assets in the trust. This person will be responsible for the distribution of assets after the grantor passes. Once these terms are established, the grantor will fund the trust by legally transferring ownership of assets to the trust. Q: Do I need a lawyer to have a trust? A: It is possible to successfully create a trust without the assistance of an estate planning attorney—but it will likely not be as effective. An experienced estate planning attorney will offer guidance on the best trust for your specific circumstances. They will also be able to help you tailor the terms of the trust to best protect your assets and objectives. An attorney can ensure the trust is adequately funded and meets all legal requirements. Working alongside a skilled attorney is highly recommended, especially if you have significant assets, multiple beneficiaries, complex family situations, or special needs dependents. Q: When do I need to update my trust? A: Regularly reviewing the terms of your trust is critical to ensuring the trust's accuracy in carrying out your goals. Life happens. Divorce, re-marriage, new children or grandchildren, estrangement, death, medical problems, or drastic financial changes can all lead to the revision of the terms of your trust. Update your trust as soon as possible after significant life changes. Veitengruber Law is an experienced estate planning law firm in New Jersey. We help our clients plan for the future and find peace of mind. If you are considering setting up a trust, we can help you develop a tailored plan to protect your interests.

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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.