We Understand Financial Distress.

There are three types of bankruptcies available for individuals:

  • Chapter 7
  • Chapter 11
  • Chapter 13

The filing of any one of these types of cases immediately stops harassing phone calls, lawsuits and attempts by creditors to obtain possession of property, including wage executions and foreclosure sales. Our attorneys can evaluate the particular circumstances of each case and can advise as to the best available course of action.

The emotional transformation people go through after they’ve been given solutions to their financial problems is amazing. – Kim R. Lynch, Member, Forman Holt

In many instances, individuals may retain their property while relieving themselves of burdensome and unmanageable debt, including bank debt, personal loans, credit card obligations, medical bills, and, in certain situations, tax obligations. For those individuals who own property that is determined to have little or no “equity” or value, a Chapter 7 “straight liquidation” generally suits their needs. Businesses may also file a Chapter 7 bankruptcy case as a method of closing their doors and going out of business.

For those individuals who earn higher than average salaries or own property that is deemed to have value, a Chapter 13 bankruptcy case enables them to keep their property while repaying their creditors, either in part or in full, over a period of three to five years. Many individuals utilize the protections of a Chapter 13 bankruptcy case to save their homes from foreclosure. Chapter 13 can also give you breathing space to catch up on mortgage arrears and other debts over time.

Although generally associated with the reorganization of businesses, Chapter 11 is available to individuals whose debts are greater than those permitted by law in a Chapter 13 case. Chapter 11 enables individuals to restructure their debt, keep their assets and pay back their creditors over time based on a reorganization plan approved by their creditors and the Bankruptcy Court. Our firm has a reputation for moving Chapter 11 debtors through the bankruptcy process quickly. This often results in substantial savings in legal, accounting and other costs for our clients.

It may be that bankruptcy is not the desired or best option. We’ll help explore your alternatives.

Whether the issue is negotiating a mortgage, single debt or group of debts, as schooled as we are in filing bankruptcy, if the facts warrant, we are equally capable in avoiding bankruptcy for our clients.

Schedule a consultation to discuss your unique circumstances.

  • Provide solutions to financial distress
  • Inform individuals about their options
  • Help people get a fresh start and move beyond debt

Forman Holt Named to "Best Law Firms" 2021

The firm has been included in the 2021 Edition of  Best Lawyers “Best Law Firms,” a distinction of professional excellence. To be eligible, a firm must have a lawyer recognized in The Best Lawyers in America, a list of the top 5% of private lawyers in the USA, which included Charles M. Forman for 2020 and 2021.

Forman Holt Named to Forman Holt Named to

3 Tips For Small Business Owners In Financial Difficulty

Charles M. Forman is featured in the online column “Triple Play”, a weekly NJBIZ feature that asks top executives in New Jersey to talk about three things related to their industry.

3 Tips For Small Business Owners In Financial Difficulty 3 Tips For Small Business Owners In Financial Difficulty

Charles M. Forman Receives Lifetime Achievement Award

The NJ Law Journal named Charles Forman as recipient of their 2016 Lifetime Achievement Award. The committee considers which individuals helped to shape the law in NJ, through their work on the bench, in-house or building a firm.

Charles M. Forman Receives Lifetime Achievement Award Charles M. Forman Receives Lifetime Achievement Award

$31M Transaction For Sale Of Historic Jersey City Building

Attorney Michael Connolly participated in the facilitation of a real estate transaction acquiring a historic 12-story office building at 35 Journal Square.

$31M Transaction For Sale Of Historic Jersey City Building $31M Transaction For Sale Of Historic Jersey City Building

Charles Forman Celebrated for Dedication to the Field of Law in Marquis Who’s Who

Prominent bankruptcy attorney Charles M. Forman has been included in Marquis Who’s Who, the publication which serves as the standard in biographical reference publications.

Charles Forman Celebrated for Dedication to the Field of Law in Marquis Who’s Who Charles Forman Celebrated for Dedication to the Field of Law in Marquis Who’s Who