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New Jersey Chapter 7 Bankruptcy Attorney

Serving Clients throughout Southern and Central New Jersey

If you live anywhere in Southern or Central New Jersey and are facing overwhelming debt, you may be able to eliminate your debt by filing for bankruptcy. We strongly urge you to contact a New Jersey Chapter 7 bankruptcy lawyer at our firm to discuss your financial condition as soon as possible. We understand the stress and frustration of being unable to pay your bills and the creditor harassment you may be experiencing as a result. Our New Jersey Chapter 7 bankruptcy attorney has assisted hundreds of clients find legal solutions to financial distress and insolvency. If you need relief from unsecured debt, such as credit cards or medical bills, then Chapter 7 may be the optimum solution for you.

Chapter 7 Bankruptcy

Chapter 7 is the most common form of bankruptcy filing. This type of bankruptcy is a liquidation process which eliminates unsecured debt. It can be filed by individuals, married couples, corporations and partnerships, if eligible. It generally takes about 3 months to complete from the date you file. You do not need a minimum amount of debt in order to file a Chapter 7.  Certain debts are not dischargeable under Chapter 7, such as child support and criminal penalties.

Unlike a Chapter 13 bankruptcy, a Chapter 7 does not involve the filing of a plan of repayment. Instead, the bankruptcy trustee gathers and sells your nonexempt assets and uses the proceeds of such assets to pay your creditors in accordance with the provisions of the Bankruptcy Code. In most Chapter 7 cases, you are able to exempt all of your assets and therefore, keep all of your possessions so long as you are within the allowable exemptions mandated in the state in which you file. You are also allowed to keep your house as long as you are current on the mortgage payments and the equity in the property does not exceed the exemptions followed in the jurisdiction in which you file. It is important to seek experienced legal counsel from our New Jersey Chapter 7 bankruptcy lawyer prior to filing in order to safeguard your possessions

Some assets may be encumbered by secured liens whereby there is no equity to exempt. In addition, certain liens can be removed in a Chapter 7 such as involuntary liens like a judgment from a credit card company. When you file for a Chapter 7, your creditors and collection agencies are forbidden under law to contact you in any way seeking the repayment of your unsecured debt.

To learn more about Chapter 7 bankruptcy and how it can help you, contact the New Jersey Chapter 7 Bankruptcy Attorney at our firm as soon as possible.

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