Chapter 13 Bankruptcy can often help a family avoid foreclosure and save their home. Many people are served with a foreclosure action and do not know what to do. New Jersey has a mandatory mediation program for homeowners facing foreclosure. You have the right to go through this mediation process to see if you can restructure your loan and save your home.

Mediation should be attempted prior to bankruptcy, but in most cases it does not work because homeowners are too far behind in their mortgage payments. This is why foreclosure generally leads to a Chapter 13 Bankruptcy. A Chapter 13 typically takes three to five years depending on your individual situation. Call Steve Richardson to discuss your bankruptcy at (856) 686-9910.

Steven J. Richardson
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Bankruptcy, Collections, Student Loan, DUI and Traffic Court attorney in Woodbury, NJ.