New Jersey Bankruptcy Attorney

Finding a New Jersey Bankruptcy Attorney for Recovering Drug and Alcohol Addiction

Over recent years the level of drug and alcohol addiction in New Jersey has risen tremendously. Many of these people are facing serious financial difficulties, and are looking for help or guidance to get back on their feet by starting “fresh.” In New Jersey, it seems like addiction is the new normal. There is probably someone you know or heard of, who is abusing prescription pills, drinking, or has died from abusing a certain kind of substance. Although this blog mainly focuses on drug and alcohol addiction, it is important to understand that other addictions such as gambling, pornography, and shopping addictions can also cause someone to be in financial debt.

It is important to understand the physical chemistry makeup of someone who is an addict. Many of these people are blocked by the high that they get and have a false perception of what reality is. Thus, spending money no longer is done conservatively. Many addicts will wipe out their own bank accounts, and the bank accounts of their friends and family. At the same time, some will use their credit cards to the maximum limit, while others get into trouble, and run up large debts with the justice system. Some addicts will steal and lie in order to get money from friends, family or relatives so that they can fuel their addiction. Others may lie and get family members and friends to co sign a loan for them, so that they can use the money on their addiction. Unfortunately, not only does drug addiction affect the finances of the addict, but it also may cause the people around them to struggle financially and become immersed in large amounts of debt .

To an addict, it may seem like they can pay their daily living expenses while fueling their addiction. However, more often than not, addicts do not have the money to meet their basic daily living needs, wh3n a huge chunk of their money is going to their addiction. Oftentimes addicts forget to pay their electricity, insurance, credit cards which then leads to lawsuits and judgments against them. Further, many addicts lose their main source of income by losing their jobs because of substance abuse and many times it becomes virtually almost impossible for an addict to get another job.

Divorce and addiction almost seem to go hand in hand. A spouse that is abusing substances usually leads to divorce. Not only is divorce expensive, but this process puts a financial strain on both the addicted spouse and the non addicted spouse. The addicted spouse usually loses a source of income, and many times loses the support system. Meanwhile, the non-addicted spouse, although free from the day to day expenses that go to supporting the addiction, they may have more expenses and may not be able to collect child support or alimony thus, inadvertently needing to file bankruptcy.

Many times when addicts try to become sober they are faced with lingering debt. This makes it harder for addicts to get back on their feet and live a “normal life.” Once sober, many of them face bad credit, causing them not to be able to rent an apartment, get a loan, or lease or finance a car. In these situations, bankruptcy may be a good option and finding a bankruptcy attorney can help. Bankruptcy enables an addict or their family members to start fresh. Thus, this will allow them to wipe out most of the lingering debt and any judgments against them. After bankruptcy they can begin rebuilding their credit. Many times people can have almost perfect credit again within two years after getting a discharge. It is important to note that not all debt is erased in bankruptcy. It is important to speak with an experienced New Jersey bankruptcy attorney that can help decide whether bankruptcy or debt settlement is the right option for you if you, or a loved one is facing addiction or has been burdened by addiction. Karra Kingston and William Bonomo are leading New Jersey and New York Bankruptcy attorneys. Bonomo & Bonomo, Attorneys At Law has helped many recovering addicts. If you feel that bankruptcy may be the right solution call today.