Newark Chapter 13 Bankruptcy Lawyers

Northern New Jersey Credit Card Debt Attorneys

Times are tough. You are falling farther and farther behind on bills, including your mortgage. It is becoming difficult to pay for necessities. What can you do? Is there a way out of your financial ruin?

If you are overwhelmed by debt and at risk of losing your home, Chapter 13 bankruptcy can provide a fresh financial start. At Pitman, Mindas, Grossman, Lee & Moore, P.C., we help individuals and families determine if Chapter 13 is a viable option for their particular situation. Contact us to schedule a free debt relief consultation at our Newark, or Springfield office locations.

What is Chapter 13 Bankruptcy?

Chapter 13 bankruptcy, often referred to as reorganization bankruptcy, allows you to enter into a debt repayment plan to pay back all or some of your debt over a 3 to 5 year period, based on your income and expenses. You can usually keep your property, but you must earn wages or have some other source of regular income and you must agree to pay part of your income to your creditors. A trustee is appointed and will take the payments from you and pay your creditors. The court must approve your repayment plan and your budget.

What is Dischargeable Debt?

One of the reasons people file for bankruptcy is to get a discharge. A discharge is a court order which states you do not have to pay most of your debts, such as credit card and medical bills. However, not all debts can be discharged, including:

• Most taxes
• Child support
• Most student loans
• Alimony/spousal support
• Court fines and criminal resolution
• Personal injury caused by driving drunk or under the influence of drugs

The discharge only applies to debts that arose before the date you filed. In addition, if the court finds that you received money or property by fraud, the debt may not be discharged.

Stopping Foreclosure Actions

If your home is currently in foreclosure, or you have received notice of a pending Sheriff sale, filing a Chapter 13 bankruptcy will stop the foreclosure or a Sheriff's sale prior to sale of the house. The court will allow you to pay the mortgage arrears through a Chapter 13 plan directly to the mortgage company. You must also resume future payments to the mortgage company.

Build a Solid Foundation for the Future and Fight Repossession

Our attorneys will work with you to examine your debt relief options and create a solid financial foundation. For your convenience, we offer flexible appointment times, including evenings and weekends. Phone calls and e-mails are returned quickly. Contact us to make a plan for moving forward. Se habla español. Nós falamos o português.