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Job Loss and Bankruptcy Lawyers in Burlington County

Filing for Bankruptcy After Losing Your Job

With unemployment rates still close to all-time highs, more and more American families have been forced to try to make ends meet while unemployed. When you are laid off or lose your job due to staff cutbacks, New Jersey Unemployment may be available so you can meet your basic needs. Unfortunately, unemployment only covers a portion of your prior salary, and there are time limits to how long you can take advantage of those benefits. While employed, you may have found it easy – or at least manageable – to pay all your bills on time, keeping the proverbial balls in the air. Once your income is cut dramatically, however, it is often difficult not to let at least one ball drop and for debt to begin accumulating.

If you have fallen behind on your bills and cannot forsee an end to your unemployment in the near future, considering Chapter 7 or Chapter 13 bankruptcy may be in your best interest. The South Jersey bankruptcy attorneys at McDowell Posternock Apell & Detrick, PC will assess your debts to determine what course of action will put you back on the road to financial success.

Government Overpayment Debt

A common occurrence linking joblessness to bankruptcy is government benefit overpayment debt. While you are receiving Social Security Disability Income (SSDI), Supplemental Security Income (SSI), or unemployment benefits from the government, these checks may be your only form of income. In some circumstances, you will receive a letter from the government stating that they overpaid you, and you now owe them the difference between the overpayment and intended benefit.

If you are still jobless when you receive this notice, it may be impossible for you to begin paying this debt, since you are already struggling to make ends meet. If you have begun working again, the government is permitted to garnish your wages, meaning that they can take debts directly out of your paycheck. It is possible that this government overpayment debt is the first ball in the air that drops, causing other financial shortfalls.

In this situation, the good news is that these debts may be discharged – wiped clean – through Chapter 7 bankruptcy. The New Jersey bankruptcy attorneys at McDowell Posternock Apell & Detrick, PC have the skills to assess your debt associated with job loss and guide you step-by-step through your bankruptcy proceedings.

Why should I consult with a bankruptcy lawyer after losing my job?

  • Obtain advice on the best financial path by an experienced bankruptcy lawyer.
  • Filing for bankruptcy protects your accounts and stops wage garnishment.
  • When you file for bankruptcy, creditors can no longer contact you about debts.
  • Explore the opportunity to “start over” through Chapter 7 bankruptcy.
  • Learn how bankruptcy will impact your life and how to rebuild your credit.

Seek Bankruptcy Advice with a Free Consultation

Losing your job can easily propel you into a potentially stressful financial situation where you struggle to pay bills and start falling behind. If you have started to fall behind on your bills and accumulate debt, getting advice from a skilled South Jersey bankruptcy attorney is the first step in the right direction. Call McDowell Posternock Apell & Detrick, PC today or fill out the contact form to schedule your free phone consultation and learn how filing for bankruptcy can help you. We have offices conveniently located in Maple Shade, Moorestown, Browns Mill and Philadelphia. Contact us today!

i felt as if she was looking
out for us like family

We closed our house sale yesterday with Melanie Levan. She was so professional, knowledgeable and great to work with. I felt as if she was looking out for us like family. I highly recommend her.

Debbie Poley Thompson

Our Awards

McDowell Posternock Apell & Detrick attorneys have received recognition from various groups and publications. Specific awards are noted on our attorney bios. More information about each of these awards and the methodology used for selection can be found on the following links. Super Lawyers, Awesome Attorneys, South Jersey Biz Best Attorneys in Business. No aspect of these accolades has been approved by the Supreme Court of New Jersey.

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For immediate assistance during business hours, call us at (856) 861-3474.
*Bankruptcy consultations may be scheduled in person

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Maple Shade

46 West Main Street
Maple Shade, NJ 08052

Fax: (856) 482-5511

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400 North Church St. Suite 250
Moorestown, NJ 08057

Fax: (856) 642-6148

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Browns Mills

57 Juliustown Rd
Browns Mills, NJ 08015

Fax: (609) 893-1277

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1528 Walnut St, Suite 2015
Philadelphia, PA 19102


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