Bankruptcy Related Practice Areas of Lee M. Perlman
New Jersey Bankruptcy (our firm’s main focus) including:
- Chapter 7 Bankruptcy – A liquidation bankruptcy for consumers and businesses
- Chapter 13 Bankruptcy – A reorganization or repayment bankruptcy for consumers
- Chapter 11 Bankruptcy – A reorganization bankruptcy for businesses
We handle all your bankruptcy-related concerns and problems:
- Debt Resolution
- Foreclosures and Sheriff’s Sales
- Utility Shutoffs
- Mortgage Disputes and Problems
- Collector and Creditor Harassment
- Landlord/Tenant Problems
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Credit Reporting Issues
- Rebuilding your Credit
- Credit Report Inaccuracies
- Fair Debt Collection Practices Act (FDCPA)
- Fair Credit Reporting Act (FCRA
Personal Injury and Medical Malpractice
- Slip and Fall
- Car Accidents
- Wrongful Death
- Workplace Injuries
Traffic Offenses and Driving While Intoxicated (DWI)
- Driving without Insurance
- Driving on the Revoked/Suspended List
- Other Traffic Offenses
New Jersey Bankruptcy Law – our firm’s main practice area
Lee M. Perlman, Attorney at Law at 856.429.2449, will gladly assist you in understanding how and when the automatic stay may help you. The automatic stay may apply to the following circumstances. These are exceptions of course to its applications.
- Utility Shutoff
- Debt collection harassment
A Chapter 7 bankruptcy is considered a straight liquidation. This type of bankruptcy may not be helpful if you have loans that provide for lenders (mortgage or automobile finance company, for example) to foreclose on your house or take repossess your vehicle when and if you do not pay in a timely fashion. You declare a bankruptcy by filing a petition with the clerk’s office of the Court. Lee M. Perlman, Attorney at Law, will usually require an approximate one-hour personal interview to examine paperwork from your creditors, review loan documents and consider other necessary evidence of debt. Our firm is the starting point for a chapter 7 filing.
A chapter 7 is usually faster and easier than chapter 13. You will have to account for your assets. Under bankruptcy law you can prevent your assets from being sold by the chapter 7 trustee if the asset is legally exempt. The Code allows you exempt, or take out and keep, certain property interests. The Trustee, an officer of the Bankruptcy Court, will look to identify nonexempt assets for possible distribution among your creditors. You should contact my office at 856.429.2449 or email me immediately to help you determine your exemptions.
The assets you do not repay are discharged (legal forgiveness). This is the successful completion of a chapter 7 proceeding. Some debts, for example, taxes, alimony, child support, are nondischargeable. This means that even if you file a chapter 7 bankruptcy there will be some debts you must pay even after your bankruptcy case is over. You can only file a bankruptcy once every six (6) years.
A Chapter 13 is commonly called a wage earner’s plan. This type of bankruptcy is only available to those with regular income. This can be salary, commission, rents, pension, alimony and child support, social security, unemployment or other benefits. You may not owe more than $250,000 in unsecured debt or $750,000 to secured creditors.
In this type of bankruptcy (Chapter 13) you submit a three or five year plan and budget your income. You generally pay back your secured debt and pay your unsecured creditors what they would have received in a chapter 7. In order to get your repayment plan approved your schedule’s property and budget must reflect income to meet your proposed payments. Once all payments have been made, most of your debts, (with the exception of some of the ones outlined previously), will likely be discharged.
Developing a chapter 13 plan is a complex and cumbersome process. My firm has helped hundreds of debtors with repayment plans. You should contact Lee M. Perlman, Attorney at Law at 856-751-4224 to assist you in the preparation of a chapter 13 and chapter 13 plan.
How to organize for a bankruptcy meeting with Attorney Lee M. Perlman:
You should get a list together of all of your creditors. Your old invoices and bills are typically OK. Our firm will need proper amounts, addresses and account numbers of your creditors as a starting point. If you feel you need a credit report you can obtain one by calling annualcreditreport.com.
You should make a list of everything you own and collect as much of the following as possible:
- Bank account amounts
- Recent employment pay stub
- Interest in real estate (deed, mortgage payoff stmt., tax assessment)
- Automobiles (title and loan documents)
- Household goods and furnishings
- Collectibles and antiques
- Wardrobe, jewelry, fur, firearms
- Stocks, bonds, 401Ks, insurance policies, lawsuits
- Copyrights, patents, licenses, franchises
- Amounts due you from: employers, customers, inheritances, and tax refunds
- A complete list of all your monthly expenses
Lee M. Perlman has focused his practice on New Jersey bankruptcy for 9 years and will gladly assist you in your bankruptcy proceeding.