There are many people who struggle with their finances but who still want to try to move forward in life. They may want to take out a home loan and start building wealth, but with poor credit, it’s difficult. Bankruptcy is a good way to eliminate debt and help you get...
Providing New Jersey Residents With A Fresh Start
Chapter 7 And Chapter 13 Bankruptcy
What you need to know about New Jersey bankruptcy exemptions
A common misconception about filing for bankruptcy is that you will lose everything you own and start life afresh. Does it mean a life of abject poverty and losing all your assets? If you are thinking of filing for bankruptcy, you have probably heard of exemptions....
How long will your bankruptcy discharge affect your credit?
When the courts discharge the balances on your unsecured lines of credit in a bankruptcy filing, they absolve you of the obligation to repay those debts in the future. While your discharge will help you by freeing up your financial resources, it can also limit your...
What does bankruptcy do for you?
“Filing bankruptcy” means that you will be discharging or eliminating some of your debts. Depending on your situation, you may choose to file for one kind of bankruptcy over the other form. These are Chapter 13 and Chapter 7. You may have gotten sick or lost your job....
What should you know about Chapter 7 bankruptcy?
Many people have a false perception of bankruptcy as a sign of failure or financial inexperience. The reality is that when unplanned hardships like personal injuries, severe illnesses and job loss happen, bankruptcy offers hundreds of thousands of Americans a way to...
Who decides what you pay during Chapter 13 bankruptcy?
Each kind of bankruptcy has different rules and requirements. Chapter 13 bankruptcy is a popular form of personal bankruptcy that people also call a wage earner's plan. Those with higher incomes can still qualify for Chapter 13 bankruptcy, which allows them to protect...
Why is an automatic stay issued in bankruptcy?
People who file for bankruptcy might be tired of having debt collectors constantly contacting them. Often, phone calls and mailed demands are used to try to get people to pay. This can make answering the phone or checking the mail a stressful experience. When you file...
Can you protect your car during a New Jersey bankruptcy?
There are many reasons that people feel concerned about filing for bankruptcy. Some people worry about the effect on their credit score. Others worry about whether bankruptcy will affect their job or financing options. Another common concern about bankruptcy is the...
How do learn if you qualify for Chapter 7 bankruptcy?
Once you determine that you need to file for bankruptcy, you then need to make certain decisions about how you will do so. The form or chapter of bankruptcy that you file will have a major effect on how bankruptcy works in your case. In a Chapter 13 bankruptcy, you...
Could bankruptcy preserve your health?
Events over the last several years (or the last year alone) have pushed your finances to their breaking point. Unfortunately, when your debts are breaking your bank account, they can also break you: Debt problems can have seriously negative consequences for both your...