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Filing for Bankruptcy

New Jersey Bankruptcy Attorney

Filing for bankruptcy can be a complicated process involving the completion of voluminous forms. It is important that you work with an experienced attorney who understands the bankruptcy laws of your state as well as the federal Bankruptcy Code. We recommend that you first consult with our experienced New Jersey bankruptcy lawyer who can evaluate your specific case to determine if bankruptcy is the best option for you.  We can also help you determine  which type of filing best serves your needs and help you determine if you are eligible. Bankruptcy is not for everyone and an in-depth review of your finances will need to be completed in order to help you make an informed decision about how to handle your debts.

What is involved in a bankruptcy filing?

Filing for bankruptcy begins with a petition to the bankruptcy court. Before you can file your petition, however, you are required to complete a credit counseling course with an approved agency within 6 months before the filing. The purpose of this course is to inform you of your options in the handling of your debts. This course can be done one-on-one in person, over the phone or the internet. Once completed, your petition can be filed with the court which will impose an automatic stay on your creditors, collection agencies, and any impending lawsuits against you.

Approximately 30 days after your petition is filed, you will be required to attend a hearing or creditors meeting. This meeting is often called a 341 Meeting Of Creditors.  In this meeting, you will answer questions under oath from the trustee who has been assigned by the court to your case. The questions will be about the facts you have presented in your petition concerning your financial situation. Any creditors who wish to attend may also ask you questions.  Typically, creditors do not attend this meeting.  The trustee's purpose is to determine the accuracy of your petition and make sure that that fraud is not being committed. Before your debts can be discharged, you are required to take a financial education class which is also a course about managing your finances.  Upon completion of this second course, the debts you have listed in your bankruptcy petition will be discharged by the court, relieving you of any further financial obligation.

If you need legal assistance in filing for bankruptcy in New Jersey, contact the New Jersey Bankruptcy Lawyer at our firm today!

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We are a federally designated debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.