A Chapter 7 bankruptcy is a liquidation bankruptcy that can help you keep your home and your car, stop creditor harassment and garnishments, but most of all, gives you a fresh start.
Introduction to Bankruptcy
Bankruptcy, including New Jersey bankruptcy, is a federal court process designed to help both consumers and businesses eliminate or repay their debts under the protection of bankruptcy court. The federal law in Title 11 of the United States Code governs New Jersey bankruptcy as well as all other bankruptcies. Bankruptcies are generally described as either liquidation or reorganization. Here we will discuss the liquidation, or Chapter 7 bankruptcy.
What is a Chapter 7 Bankruptcy?
Chapter 7 is a liquidation bankruptcy meaning it can eliminate most types of unsecured debt. Examples of unsecured debt are credit cards and medical bills. Individuals, married couples, corporations and partnerships can all file a Chapter 7 bankruptcy if eligible.
How can Chapter 7 Bankruptcy help you?
- Keep your Home and your Car
When you use one of our New Jersey bankruptcy lawyers, besides eliminating your debt, you will, under most circumstances, keep your home, your car and your personal belongings. This will allow you to eliminate your debt and get a fresh start.
- Stop Creditor Harassment
Are creditors calling you at home and at work? Are they contacting your friends and family members? Put an end to your creditor harassment by speaking with one of our New Jersey bankruptcy lawyers. Once you retain our office, you will be able to refer your creditors to us. The creditor harassment will stop immediately. Under some circumstances, this creditor harassment may be in violation of the Fair Debt Collection Practices Act (FDCPA) and you may have cause for further action.
- Stop Garnishments
Are you currently experiencing garnishment of your wages? Have you been notified that garnishment may soon begin on your wages? A Chapter 7 bankruptcy is one of the most effective ways to stop garnishments. By contacting one of our New Jersey bankruptcy lawyers, we can stop the garnishment so your income can be put to better use.
- Eliminate Debt
Debts like credit cards, pay-day loans, medical bills, law suits, utility bills, repossessions, or foreclosure deficiencies can be completely eliminated without payment to your creditors.
- Prevent Utility Shutoffs
Worrying about utility shutoffs? Filing a Chapter 13 bankruptcy can stop creditors from shutting off your utility service. Contact one of our New Jersey bankruptcy lawyers today to prevent a disruptive utility shutoff before it’s too late. We have three offices in New Jersey to serve you better.
Call on the experienced New Jersey bankruptcy lawyers at Lee M. Perlman for your chapter 7 bankruptcy.