Northern New Jersey Chapter 7 Bankruptcy Lawyer
In today's economy, many people are experiencing significant financial challenges. If you or your spouse has lost their job, these challenges can rapidly become overwhelming. The ability to make a simple mortgage payment or minimum payment on a credit card may seem next to impossible. You may worry about losing your home or car, and be inundated with calls from creditors. It is important to know that in these difficult times, you do have options.
For those in over their heads, debt relief may be available. At Pitman, Mindas, Grossman, Lee & Moore, P.C., our attorneys help individuals and families understand the advantages and disadvantages of filing for Chapter 7 bankruptcy. Contact us to schedule a free debt relief consultation at either our Newark, or Springfield office locations.
What is Chapter 7 Bankruptcy?
Chapter 7 bankruptcy, also known as liquidation bankruptcy, can eliminate most types of unsecured debt, including credit card and medical bills. To determine eligibility for Chapter 7, your debts and earning potential will be subjected to a means test. Many times, those who fail to qualify for Chapter 7 bankruptcy can still qualify for Chapter 13 bankruptcy.
What Are the Benefits of Filing?
Filing for Chapter 7 bankruptcy will put an automatic stay in place. This stops all collections actions that may be pending against you and makes it unlawful for creditors to harass you.
Chapter 7 also puts an end to any wage garnishment you may be experiencing. In most cases, you will get to keep the money you earn, as well as your home, car and personal possessions.
Are There Negative Consequences?
Although it can provide you with a fresh financial start, bankruptcy is not for everyone. The decision to file for Chapter 7 is crucial and depends upon your individual circumstances. Please note, bankruptcy may also affect your credit for a few years.
Take the First Step Toward a Solid Financial Future
Our attorneys work closely with you to find viable situations. We offer flexible office hours, including evenings and weekends. Phone calls and e-mails are returned promptly. Contact us to start easing your financial concerns. Se habla español. Nós falamos o português.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
