The Law Offices of Seymour Wasserstrum - July 2020

The Law Offices of Seymour Wasserstrum

205 West Landis Ave. Vineland, NJ 08360 • 1040 Kings Highway North, Ste. 304, Cherry Hil l, NJ 08034 July 2020 856-696-8300

There Is No Shame in Bankruptcy! Pushing Back Against Stereotypes in the Age of COVID-19

(Trump included, six times for his businesses), and evenmy own father —have filed for bankruptcy, received a totally fresh start, and emergedmuch better off. The U.S. Constitution gives you the absolute right to file for bankruptcy, and taking advantage of that law is smart. It will give you debt relief, stress relief, a new lease on life, and the opportunity for a brighter financial future. Some additional relief is available to you right now, even if you don’t file for bankruptcy. In the last fewmonths, aid packages and important changes in the law have financially helped millions of Americans. Federal student loan payments have been suspended through Sept. 30, and simply making a phone call may be enough to get you a deferral on your monthly mortgage payment, car payments, and credit card payments. The deadline to file federal taxes has also been pushed back to July 15. All of this is in addition to individual relief checks, increases in unemployment checks, and various benefits that have been granted to small businesses. I would never recommend that anyone file for bankruptcy unless they clearly need to. Also keep in mind that you can file bankruptcy more than once or twice. Even though it’s a great option to have, there are a lot of things we can do before you reach that point. For example, when needed, I do my best to help clients get loan modifications, reduce their interest rates and monthly payments, and work out deals with their mortgage companies. If they have credit card debt, I often look into debt settlement, and if they owe back taxes, I can work on an offer in compromise with the IRS. In conclusion, always remember that bankruptcy is your constitutional right, and there is absolutely no shame or stigma in exercising your legal rights. It can improve your life in somany ways. Not only

In the last few months, COVID-19 has changed just about everything. Some things have changed for the better, like our community spirit, but many have changed for the worse. It’s pretty obvious that the ultimate result of these changes — including stock market fluctuations and massive unemployment — is that, unfortunately, a lot more people are and will be suffering serious financial challenges. If you’re worried about whether you’ll be able to pay your mortgage or other debts this month, bankruptcy could very well be a great option for you. I’ve been practicing law since 1973, and I’ve been focusing on personal and business bankruptcy for the last 25 years. In that time, I’ve worked with thousands of people in financial distress. One thing my clients often tell me is that they feel ashamed to file for bankruptcy because the “B word” sometimes comes with stereotypes and stigma. That’s completely understandable, but the truth is that possibly more than 2 million people may file for bankruptcy in 2020, and bankruptcy can be a beautiful blessing for those who need it. If you feel ashamed about the idea of filing or worry that it might impact your reputation, consider this: Over the years, thousands of very successful people— including actors and actresses, sports stars, politicians and presidents

have I seen this with somany of my clients, but I’ve also seen it firsthand inmy own family. In the late 1950s, my father filed for bankruptcy for our family chicken farm. Shortly after, he was back on his feet and able to buy the mom-and-pop grocery, Sam’s Market, that I talked about inmy last newsletter. He worked hard there for 22 years, and his earnings put me through college and law school. That’s a successful life inmy book! If you qualify for Chapter 7 or Chapter 13 bankruptcy, you can be totally debt-free in as little as four months and keep your house, vehicles, retirement plans, and personal possessions. To learnmore about how bankruptcy can help you, call me today at 856-696-8300 and ask for a copy of my 30-page Bankruptcy Success Guide. I’ll send it to you for free! And for more valuable information on how to wipe out your bills, check out my website, WipeOutYourBills.com . I wish you all the best. As strong Americans, we are going to make it through this crisis. I believe that there are better and brighter days ahead for all of us.

My new report “‘Don’t Fear Foreclosure, Fight Foreclosure’ – Seymour’s Guide to Saving Your Home” is now available. Call 856-696-8300 or visit our website WipeOutYourBills.com to request your FREE copy!

-Seymour Wasserstrum

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