Arbitration and Mediation
Most people will experience money problems at some point in their lives. Encountering such difficulties says nothing about your ability or willingness to work and be responsible. Financial setback can result from unexpected unemployment, injury, accident, or the need to care for a loved one. No matter how much you cut back and re-arrange, you may be at the point at which you simply do not have enough coming in to meet your expenses.
Rather than suffer the strain and indignity of being chased by collectors or having your stuff arbitrarily seized you may want to consider filing for bankruptcy. The latter is a tool, a means of protecting yourself against your creditors.
Most of the unpleasantness having to do with excessive debt comes from the collectors rather than the creditors themselves. Most creditors are not interested in making people’s lives miserable; they just want their money, or as much of it as they can get. Filing for bankruptcy gives you a way to bring them to the table, so that a reasonable repayment schedule can be worked out.
Although the immediate effect of bankruptcy is the protection of your assets, it is still necessary to work out how you will repay the people you owe. This is especially the case if you have filed Chapter 13. The best way forward in this proceeding is through arbitration and mediation. Your best option is to sit down with representatives of your creditors and negotiate a settlement that works for everyone.
You will need a New Jersey bankruptcy arbitration lawyer and New Jersey bankruptcy mediation lawyer to help you through this process. Wasserman Jurista & Stolz P.C. is a law firm with the experience, insight, and expertise to help you through bankruptcy arbitration.
Bankruptcy mediation is preferable to a court proceeding because it removes a lot of the extraneous and costly maneuvering that comes with settling your affairs in that forum. Arbitration and mediation allows you and your creditors to collaborate, to come together in a calm, quiet, and rational way with the sole purpose of formulating a repayment plan and schedule that is both acceptable and sustainable.