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Chapter 7 Bankruptcy

New laws require a means test to determine your eligibility for a debt discharge. If you fall below the state’s median income, you will qualify. Considering New Jersey possesses one of the highest median incomes in the state, many clients who come to us are able to start over with a clean slate through a Chapter 7 bankruptcy filing.

Stop Wage Garnishments

By immediately filing bankruptcy you can put a halt to wage garnishments and law suits

Chapter 13 Bankruptcy

Chapter 13 debt reorganization. It enables individuals to develop a plan to repay all or part of their debts. Under Chapter 13 the debtor proposes a repayment plan to make installments to creditors over three to five years.  Automobile payments could be lowered and second mortgages may be eliminated.

 

Stop Utility Shutoffs

Utility companies can be prevented from terminating service.  Both Chapter 7 and Chapter 13 can eliminate the debt or a large portion of the debt.

Utility companies are required to establish a new account provided they receive a "new" service deposit for "new" service.

Facing Foreclosure

A bankruptcy filing immediately initiates an automatic stay, which  forces a bank to cease all foreclosure actions. Once your creditor's stop harassing you, you and your attorney can develop a plan to get caught up with  your mortgage payments. We will help you identify the best option for keeping your house or starting fresh.

 

Credit Repair

It is true that a bankruptcy stays on your credit report for 10 years.  However, filing bankruptcy will remove all the negative marks that is lowering yourr credit score.  It is not unheard of to experience a credit score increase of 80+ points upon filing bankruptcy

Car Repossessions

We can stop repossession of your automobile and under certain conditions we may even be able to lower your car payment.

You may even be able to get a repossessed car back, if it hasn't been sold at auction.

 

Obtain a Mortgage

It is possible to obtain a mortgage the day after you receive your discharge