Lodi, NJ asked in Business Law, Civil Litigation, Bankruptcy and Collections for New Jersey

Q: not sure which lawyer to choose/subject. my business is being sued for non payment of a business loan & large cc debt

personal mostly cc but a couple of bus and credit lines. Was served court papers for 1 already. How do I follow up with all this? I wanted to declare bankruptcy months ago, but I haven't had any income above what my immediate bills are.

Thanks.

3 Lawyer Answers
Leonard R. Boyer
Leonard R. Boyer
Answered
  • Bankruptcy Lawyer
  • Clifton, NJ
  • Licensed in New Jersey

A: You need to immediately retain an experienced bankruptcy attorney.That is the best and most cost effective way to handle this situation.

Stuart Nachbar
Stuart Nachbar
PREMIUM
Answered
  • Bankruptcy Lawyer
  • Livingston, NJ
  • Licensed in New Jersey

A: You should stop paying your creditors and file for the bankruptcy or at least get into a bankruptcy professional in your area so you can discuss your options and figure out what the strategy would be, so you can stop wasting funds and time. If you are truly planning to file, just know that you do not get "brownie points" for continuing to pay creditors for debt that is over 90 days old.

Paul J. Riviere
Paul J. Riviere
Answered
  • Bankruptcy Lawyer
  • Jackson, NJ
  • Licensed in New Jersey

A: You need a business lawyer to restructure outside of bankruptcy or a bankruptcy lawyer to help you file a bankruptcy petition to get the process started. Either of which is going to cost money, however after you hire an attorney to do either of these options I'm sure you will feel that it was money well spent.

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