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2024

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Best Bankruptcy Attorneys in Clifton

Our Recommended Top 19

We did the research for you!

  • Licensing
  • User Reviews
  • Mystery Shopping Calls

Our goal is to connect people with the best local professionals. We scored Clifton Bankruptcy Attorneys on more than 25 variables across five categories, and analyzed the results to give you a hand-picked list of the best.

49

Reviewed

37

Curated

19

Top Picks

Learn about our selection process.

Providers

featured provider = Featured Provider

Website
354 Eisenhower Pkwy Plaza 1, Ste 2025, Livingston, NJ 07039
  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy

Why choose this provider?

The Law Office of Stuart M. Nachbar, P.C. in Livingston assists individuals and businesses in Clifton in personal injury, bankruptcy, and special needs law matters. The firm, headed by Stuart M. Nachbar, has been providing legal help in bankruptcy protection filing for more than a decade. Nachbar is a former municipal prosecutor, and he handles proceedings for debt liquidation (chapter 7) and debt repayment plans (chapter 13). He also offers credit counseling before clients officially file for bankruptcy.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (50)
Avvo
4.9 / 5 (41)
Facebook
5.0 / 5 (12)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
382 Springfield Avenue, Summit, NJ 07901
  • Debt Settlement

Why choose this provider?

Bourne, Noll & Kenyon is a firm handling bankruptcy law and creditors' rights matters in the Clifton area. Its bankruptcy attorneys can assist those who want to coordinate with lenders in loan workouts to set-up monthly payments. They can also represent debtors who want to restructure debts during bankruptcy proceedings. This law office has experience in forbearance agreements that ensure delinquent borrowers get to keep their properties. It also handles elder law and trust administration.

Attorney Information

Attorney NamesExperience
Ellyn Draikiwicz - Member39 yrs

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
3.8
Responsiveness
Friendliness
Helpfulness
Detail
––

Website
222 Ridgedale Avenue, Morristown, NJ 07962
  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy
  • IRS Tax Debt

Why choose this provider?

Ast & Schmidt, P.C. helps families and individuals in Clifton and nearby communities obtain a fresh financial start. Its team of bankruptcy attorneys handles a variety of debt-related matters, including foreclosure defense, wage garnishment, debt settlement or consolidation, and creditor harassment. The firm helps clients file for chapter 7 bankruptcy for eliminating unsecured debts and chapter 13 bankruptcy for reorganizing debt and structuring a repayment plan. Firm partner David Alan Ast has over 30 years of experience in bankruptcy law.

Attorney Information

Attorney NamesExperience
Robert Schmidt - Partner25 yrs
David Ast - Partner50 yrs

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.7
Avvo
4.5 / 5 (6)
Facebook
5.0 / 5 (3)
Yelp
5.0 / 5 (1)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
24 Commerce St #1300, Newark, NJ 07102
  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy

Why choose this provider?

Michelle Labayen helps people in the Clifton area facing financial problems. She assists clients in filing for chapter 7 bankruptcy, which discharges debts instantly, or chapter 13 bankruptcy, which requires repayment of debts while retaining property ownership. She has been practicing law for more than 16 years and has represented clients at the Legal Aid Society. Labayen has experience working for national banks, giving her in-depth knowledge of the legal processes used by credit card agencies and foreclosure companies.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.9
Google
4.9 / 5 (75)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
416-418 Rahway Avenue 2nd Floor, Elizabeth, NJ 07202
  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy

Why choose this provider?

Raymond and Raymond assists in the legal process of filing bankruptcy in Clifton. It is a bankruptcy law firm that has been in the industry for the last 20 years. It concentrates on chapter 7 bankruptcy that cancels payment of an unsecured debt, such as personal loans, medical bills, and credit card debts. The firm's attorney, Herbert B. Raymond, belongs to the National Association of Consumer Bankruptcy Attorneys. He is also the former committee head of the Bankruptcy Lawyers Advisory Committee's consumer division.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.2
Google
4.3 / 5 (12)
Facebook
5.0 / 5 (2)
Yelp
1.0 / 5 (1)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
1065 Route 22 West Suite 2B, Bridgewater, NJ 08807
  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy
  • Chapter 11 Bankruptcy

Why choose this provider?

Lucid Law caters to individuals and businesses in Clifton dealing with debt. It helps clients find relief and get a fresh start through chapters 7, 11, and 13 bankruptcies. The firm also provides representation to secured and unsecured creditors. It applies alternative dispute resolutions such as collaborative law and mediation. Its head attorney, Karina Pia Lucid, has been practicing law since 2002. Before opening her firm in 2011, Lucid worked for Lowenstein Sandler P.C. and Norris McLaughlin and Marcus P.A.

Attorney Information

Attorney NamesExperience
Karina Lucid - Founder22 yrs

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.9
Google
4.8 / 5 (25)
Facebook
5.0 / 5 (10)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
66 E Main St 3rd floor, Little Falls, NJ 07424
  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy

Why choose this provider?

Ralph A. Ferro Jr., Esq. Law Offices is a legal firm dedicated to representing individuals and businesses in Clifton in bankruptcy matters. Its practice includes handling chapters 7, 11, and 13 bankruptcy cases; debtor and creditor rights; litigation; and mediation. It helps stop pending lawsuits, foreclosures, vehicle repossession, and wage garnishments. Ralph A. Ferro Jr. is a consumer bankruptcy specialist certified by the American Board of Certification. He has been practicing law for more than 29 years.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.8
Google
4.9 / 5 (78)
Avvo
4.4 / 5 (12)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
18 Green Road, Sparta, NJ 07871
  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy
  • Debt Settlement

Why choose this provider?

Dean G. Sutton, Esquire is a law firm that represents clients who are seeking debt relief in Clifton and surrounding areas. The firm's bankruptcy attorney, Dean G. Sutton, has been filing bankruptcy cases for over 40 years now. Sutton focuses on filing chapters 7 and 13, stopping lawsuits, creditor harassment, and foreclosures. The firm assists in mortgage modification, debt negotiation, and bankruptcy-related real estate matters. Dean G. Sutton, Esquire also provides tips on rebuilding credit after filing for bankruptcy.

Attorney Information

Attorney NamesExperience
Dean Sutton - Principal45 yrs

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Avvo
5.0 / 5 (6)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
2414 Morris Avenue, Union, NJ 07083
  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy

Why choose this provider?

Andrew M. Wolfenson, Esq., P.C. brings over 25 years of experience in various areas of law, including bankruptcy. From preparing bankruptcy filings to securing the discharge of debts, the firm's bankruptcy attorneys counsel clients in all aspects of the proceedings. As the Bankruptcy Abuse Prevention and Consumer Protection Law have made bankruptcy declarations more complicated, the attorneys ensure clients' compliance to the strict policies. They cover chapters 7 and 13 bankruptcies and help clients prevent foreclosures and wage garnishments.

Attorney Information

Attorney NamesExperience
Andrew Wolfenson - Principal33 yrs

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Avvo
5.0 / 5 (95)
Google
4.9 / 5 (79)
Facebook
5.0 / 5 (19)

(+1 additional source)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
3 Becker Farm Road, Roseland, NJ 07068
  • Chapter 7 Bankruptcy
  • Debt Settlement

Why choose this provider?

Mandelbaum Salsburg is a bankruptcy law firm that has been providing legal assistance in Clifton and other areas since 1930. The team of attorneys from this business handles insolvency-related and bankruptcy matters for creditors in debt counseling, workouts, out-of-court restructuring, and bankruptcy cases. The firm also has experience in representing debtors in chapter 7 liquidation, chapter 11 reorganization, and state court insolvency remedies. The firm's bankruptcy lawyer, Stuart Gold, has more than 30 years of experience in bankruptcy law and commercial litigation.

Attorney Information

Attorney NamesExperience
Barry Mandelbaum - Founding Member/Chairman63 yrs

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Facebook
5.0 / 5 (5)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
33 Clinton Road, West Caldwell, NJ 07006
  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy

Why choose this provider?

Minion & Sherman is a law firm that provides legal solutions throughout Clifton and nearby areas. The company's bankruptcy attorneys offer chapter 7 and 13 bankruptcy options to effectively stop creditor activity, such as harassment and wage garnishment. Other practice areas of the firm are real estate, domestic violence, child custody and support, alimony, and divorce. The firm's founder, Stuart D. Minion, has been practicing law since 1991. Minion & Sherman was established in 1995.

Attorney Information

Attorney NamesExperience
Stuart Minion - Founder/Partner33 yrs

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Avvo
5.0 / 5 (127)
Facebook
5.0 / 5 (3)
Yelp
5.0 / 5 (2)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
650 Bloomfield Ave Suite 100, Bloomfield, NJ 07003
  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy

Why choose this provider?

Michael Schwartzberg offers legal representation to individuals and businesses in Clifton. He takes on various cases, including bankruptcy. He provides guidance to clients in dealing with tax and IRS issues, wage garnishment, judgment liens, and debt consolidation. He also handles cases involving foreclosures, real estate, personal injury, and civil litigation. Michael is admitted to practice in the Supreme Court of New Jersey, the Supreme Court of New York, and the district courts of New Jersey and New York.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.8
Google
4.8 / 5 (69)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
376 South Ave E, Westfield, NJ 07090
  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy

Why choose this provider?

Law Offices of Darin D. Pinto, P.C. is a bankruptcy law firm that assists Clifton-based residents. Headed by Darin D. Pinto, the company helps clients handle debts through chapter 7 and chapter 13 bankruptcy. The attorney serves clients suffering from debt due to income changes, medical bills, and divorce. He assesses clients' financial situations to determine the bankruptcy form that will suit their needs and their eligibility. Pinto has been practicing in the area of bankruptcy for almost 30 years.

Attorney Information

Attorney NamesExperience
Darin Pinto - Principal33 yrs

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
FindLaw
5.0 / 5 (17)
Google
5.0 / 5 (1)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
4 East Ridgewood Avenue Suite 2, Ridgewood, NJ 07450
  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy

Why choose this provider?

The Law Offices of Susan S. Long offers legal options involving chapters 7 and 13 bankruptcy to clients within Clifton. Long provides a comprehensive of potential strategies based on each client's financial situation and take factors such as liabilities, income, and assets into account. She also provides informative assistance regarding credit counseling courses and prepares necessary documents prior to filings. She currently serves on the Consumer Practice Sub Committee of the Association of the Federal Bar of New Jersey's Bankruptcy Section.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (15)
Facebook
5.0 / 5 (14)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
515 Valley Street #140, Maplewood, NJ 07040
  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy

Why choose this provider?

Levitt & Slafkes works with Clifton individuals and businesses in bankruptcy, foreclosure, and commercial bankruptcy litigation. Its lawyers are proficient in the different bankruptcy protection filings, such as chapters 7 (debt liquidation), 13 (debt reorganization), and 11 (business debt reorganization and personal bankruptcy). All its clients undergo a means test to determine the appropriate bankruptcy protection to be filed. Its bankruptcy attorneys, Bruce H. Levitt and Shelley B. Slafkes, have over 50 years of combined legal experience.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.9
Avvo
4.9 / 5 (99)
Google
4.9 / 5 (94)
Facebook
5.0 / 5 (6)

(+2 additional sources)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
479 N. Midland Ave., Saddle Brook, NJ 07663
  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy

Why choose this provider?

Law Office Of William H. Mulder provides bankruptcy assistance to Clifton residents. It helps individuals who are seeking debt relief by filing for chapter 7 and chapter 13 bankruptcies. It performs thorough case examinations, utilizes asset protection strategies, and completes the necessary paperwork before bankruptcy filing procedures. It also has foreclosure defense services for clients who want to avoid bank repossessions. Managing attorney William H. Mulder utilizes a hands-on approach in his practice and has been serving local clients for over 30 years.

Attorney Information

Attorney NamesExperience
William Mulder - Principal28 yrs

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.8
Google
4.8 / 5 (27)
Yelp
5.0 / 5 (1)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
451 Clifton Avenue, Clifton, NJ 07011
  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy
  • Chapter 11 Bankruptcy

Why choose this provider?

The Law Offices of Franklin S. Montero in Clifton offers legal advice to clients seeking to file for bankruptcy protection. It helps clients navigate different bankruptcy strategies, such as straight bankruptcy (chapter 7), court-ordered repayment plans (chapter 13), and business debt reorganization (chapter 11). The firm uses instruments such as the means test in determining the appropriate bankruptcy filing for each client. Its owner and managing attorney, Franklin Montero, also serves as a municipal court judge for Bergenfield.

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.8
Google
4.8 / 5 (56)
Avvo
4.9 / 5 (15)
FindLaw
4.5 / 5 (7)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
244 State Hwy 94, Vernon, NJ 07462
  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy
  • Chapter 11 Bankruptcy

Why choose this provider?

The Law Offices of James C. Zimmermann handles the reorganization of chapters 7, 11, and 13 bankruptcy filings for individuals, families, and businesses around Clifton. Zimmermann assists clients in determining their qualifications for bankruptcy using personalized counsel based on their specific financial situations. He also challenges the legalities and technicalities of foreclosure proceedings initiated by banks to help families secure their homes. Outside of his practice, Zimmermann volunteers in community engagements under the Vernon Township Planning Board and Environmental Commission.

Attorney Information

Attorney NamesExperience
James Zimmermann - Principal33 yrs

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.4
Google
4.6 / 5 (38)
Facebook
5.0 / 5 (1)
Yelp
1.0 / 5 (1)

(+1 additional source)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
100 S. Van Brunt St, Englewood, NJ 07631
  • Chapter 7 Bankruptcy
  • Chapter 13 Bankruptcy

Why choose this provider?

Walter D. Nealy P.C. is a law firm that creates custom-made solutions for individuals and families in the Clifton metro and nearby areas. Its legal team assists clients in declaring bankruptcy, filing the necessary paperwork, and crafting repayment plans. The team utilizes legal options for foreclosure defense, creditor harassment respite, and debt discharge. Walter Nealy has been addressing the legal needs of the community for more than 20 years and also handles criminal defense cases.

Attorney Information

Attorney NamesExperience
Walter Nealy - Principal40 yrs

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.3
Google
4.3 / 5 (7)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Disclaimer:  Consumers utilizing Expertise.com are free to communicate and contract with any lawyer they choose. Expertise.com is not involved in the confidential attorney-client relationship. Featured lawyers pay a reasonable advertising cost to market their legal services withExpertise.com and must meet similar selection criteria as other lawyers. All cases are different. Prior results do not guarantee a similar outcome.

Frequently Asked Questions

  • Where do I file for bankruptcy in Clifton, New Jersey?

    To file bankruptcy in Clifton, visit the United States Bankruptcy Court for the District of New Jersey at Martin Luther King, Jr. Federal Building, 50 Walnut Street, Newark, NJ 07102. You can call (973) 645-4764 for further questions or assistance.

  • Where can I get bankruptcy forms in Clifton, New Jersey?

    You can download the forms for your Clifton bankruptcy case by visiting the United States Bankruptcy Court for the District of New Jersey website at https://www.njb.uscourts.gov/ and navigating to the 'Forms' section.

  • How long does a bankruptcy mark stay on one's credit history, and what steps can Clifton residents take to rebuild their credit?

    A bankruptcy mark lingers on one's credit history for seven to ten years. However, residents of Clifton can rectify their financial standing by adopting a well-structured budget plan and ensuring judicious usage of credit. Some lenders even target those who've recovered from bankruptcy, capitalizing on the mandatory wait before filing again. Paying all dues promptly and not accruing unpayable monthly credit card debt is also significant.

  • How long does the bankruptcy process take in Clifton?

    Generally, a Chapter 7 bankruptcy proceeding in Clifton will conclude within three to four months. On the other hand, a Chapter 13 filing is more intricate, extending the process to about three to five years. It is worth noting that preparing the bankruptcy petition may require significant time due to the substantial financial details involved; thus, a thorough comprehension of one's financial status and the process itself is crucial.

  • Can declaring bankruptcy help a resident of Clifton halt a foreclosure process?

    Filing for bankruptcy in Clifton can provide temporary respite from foreclosure due to the automatic stay effect. It pauses financial proceedings, including foreclosure, until the bankruptcy case concludes. However, this halt is not permanent. Post-bankruptcy, foreclosure may recommence if mortgage payments still can't be met. Therefore, during bankruptcy, it's critical to concentrate on eliminating enough debt to enable future mortgage payments and secure a more stable financial situation.

  • How does Chapter 11 bankruptcy benefit a struggling business in Clifton?

    For Clifton businesses grappling with debt, Chapter 11 bankruptcy provides a structured process to reduce and reorganize liabilities. Despite being complex and potentially costly, it allows businesses to regain their financial footing, continue operations, renegotiate leases, slow foreclosure, and even alter union contracts. However, the reorganization plan necessitates creditor and court approval, and there's always the risk of conversion into Chapter 7 liquidation. Once approved, the plan replaces pre-filing debts, signaling a new contractual phase with creditors.

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