Loan Modification

With all the money the Obama administration has spent in its 75 billion dollar financial rescue funds, only 9% of eligible borrowers have received trial modifications according to the Wall Street Journal. Even though the participating mortgage servicers receive government funding for mortgage modifications, there has not been much success at helping consumers as foreclosures continue to escalate. The Obama administration promised it would help 4 million people facing foreclosure while only235,243 trial modifications have started since the program was launched in February, 2009. Since this program takes months and is not mandatory on mortgage servicers, the only way to make mortgage modifications mandatory is through the bankruptcy process. The House originally passed a bill in April, 2009 but it died in the Senate.

By allowing Bankruptcy Judges to modify mortgages, this will not create any more taxes on the American consumer which the Obama program’s 75 billion rescue plan does. For years bankruptcy judges have allowed modifications of secured loans other than loans covering one’s primary residence; thus, it follows this is the most logical way to truly help people facing foreclosure save their home and have a global approach to deal with all their debt. Please write your congressmen and senators to reintroduce this legislation.

Means Testing in the Bankruptcy Code

Like many Americans, I am concerned with the economic problems facing our economy. The President and the Congress allege that they are concerned with the rising unemployment and foreclosures in this country however, they have done nothing to modify the bankruptcy code to eliminate the harsh results of the means test and the ridiculous documentation requirement involved with the means test.

It is hard enough for people who are employed to retain pay advices for 6 months. If someone just lost a job and or their company went out of business , this creates further burdens on a consumer who is suffering enough and may need to file bankruptcy to protect property from being seized by creditors. Write the President and Congress to take real action rather than just do things for political browny points.

Are You Hurting Financially?

Have you suffered a job loss or pay cut which overwhelmed you with credit card debt?  Have you had a debilitating illness that caused you to lose lots of time at work, which put you behind on your bills?  Were you a victim of identity theft?  Have you suffered a nasty divorce that has ruined you emotionally and financially?  Or did you just not understand money management and made poor choices that led to this horrible cycle of debt.

 

I have helped many people through bankruptcy over the last 23 years.  I will discuss your options to give you a fresh start and see the light at the end of the tunnel, through the bankruptcy process.

 

 

I will be there for you.  Please call me at 856-235-4994 or email me at sntgale@aol.com.

 

Sincerely,

Steven N. Taieb

 

We are a debt relief agency.  We help people file for bankruptcy under the Bankruptcy Code.

Bankruptcy and Credit

Many people still cringe when they hear the word “bankruptcy”, since they are afraid of the credit ramifications.

 

If you have late payments, judgments or are in foreclosure your credit is not in good shape.  The biggest myth is the commercials by the companies that will cut your credit card payments by 50%.

 

Consumers don’t realize that whenever they work out a payment arrangement and are not paying their creditors in full, that this negatively affects their credit.

 

It still amazes me that people who are $80,000 in debt and make minimum payments, state how great their credit is.  They don’t realize that eventually the creditors will pursue them via law suits and then garnishments and levies.

 

It is true that a bankruptcy is on your credit report for ten years.  However, within two years after a discharge, you are usually eligible for a mortgage, and can get a car loan right after your discharge.

 

If you have any questions, feel free to call me at 856-235-4994 or email me at sntgale@aol.com.

 

Sincerely,

Steven N. Taieb

 

We are a debt relief agency.  We help people file for bankruptcy under the Bankruptcy Code.

Myths About Credit Cards

Since the Bankruptcy Law was amended on October 17, 2005, many people who call my office have the misconception that credit cards cannot be discharged in bankruptcy.  There is nothing further from the truth.

Even though the media, credit card companies and bill collectors tell you that you can’t file bankruptcy, This is Wrong. 

Chapter 7 bankruptcies are still available if you are under the median income in New Jersey, where I primarily practice.  A single person can earn up to $56,151 per year, a two person family can earn $64,821 a three person family can earn up to $83,306 and a four person family can earn up to $97,131.  For each additional person in the household you can add $6,900.

Even if you are above the median income in New Jersey and fail to meet the requirements in the “Means Test”, bankruptcy is still avaliable under chapter 13.

Any bankruptcy will STOP the creditor from harassing you, suing you or levying your property, except in rare circumstances where there have been multiple filings in the recent future. 

Please call me at 856-235-4994 or email me at sntgale@aol.com if you have any questions.  There is no charge for the first visit.

Sincerely

Steven N. Taieb

We are a debt relief agency.  We help people file for bankruptcy under the Bankruptcy Code.

 

TAX DAY HAS PASSED

Now that April 15, 2008 has passed a lot of you may owe taxes to the IRS or State of New Jersey.  If you have substantial tax obligations and are concerned about a bank levy or wage garnishment, bankruptcy can help.

Chapter 13 creates an automatic stay, which stops the IRS or State of New Jersey from seizing you funds.  It also sets an orderly payment plan over the next 3 to 5 years.

Please note, certain taxes may be discharged in bankruptcy.

Please cal me at 856-235-4994 or email me at sntgale@aol.com if you have any questions.

Sincerely                                                                                                                                                                                     

Steven N. Taieb,

We are a debt relief agency.  We help people file for bankruptcy under the Bankruptcy Code.

 

F.A.Q

I have listed some questions that I am often asked in my law practice.

Q. Will I lose my home if I file for bankruptcy?

A.  If you file the correct type of bankruptcy you will not lose your home.  If you are behind on your mortgage, you will definitely want to file Chapter 13 if you wish to keep your home.  I will set up a payment plan to cure the mortgage arrears over the next three to five years and will stop any foreclosure with the automatic stay.

Q.  New Century Financial has a judgment against me and has been garnishing my wages for 3 months.  Is there anything I can do?

A.  A bankruptcy will immediately stop the wage garnishment. You will not get any money back, but it will prevent New Century from going after any future wages.

If you have any questions, please call me at 856-235-4994 or email me at sntgale@aol.com

Sincerely

Steven N Taieb,

We are a debt relief agency.  We help people file for bankruptcy under the Bankruptcy Code.

 

Bankruptcy Help is still available is New Jersey

WELCOME TO ALL WHO ARE PARALYZED BY DEBT OR FORECLOSURE

When the bankruptcy laws changed on October 17,2005, the media gave people the misleading

information that bankruptcy was no longer available.  This in not the case at all.

New Jersey has one of the highest median incomes in the country and even if you are above the median

income which is $97,131 for a family of four, you still qualify for chapter 13 which will get creditors off

your back.

All first time bankruptcy filers will create an automatic stay which will stop all law suits, wage

garnishments, levys and IRS levys.  Chapter 13 allows you to save your home for first filings and I may still

be able to  save your home even if you have filed more than one bankruptcy in the last few years.

Bankruptcy can still stop repossessions and save your vehicle or restructure your auto loan. 

If you are paralyzed by debt or foreclosure, I can help. 

The first consultation is ALWAYS FREE.

Call me at (856)235-4994 or email me at sntgale@aol.com.

Sincerely,

Steven N. Taieb

We are a debt relief agency.  We help people file for bankruptcy relief under the bankruptcy code.