When you have more bills than money each month and you can’t seem to get ahead due to credit card bills, medical bills or other unsecured debts, it may be time to consider speaking to a bankruptcy attorney in NJ. A bankruptcy attorney can advise you what options you may have to relieve yourself from some of your unsecured debt and help you get a fresh start. There are two common bankruptcy options available for most people. Chapter 7 and Chapter 13 bankruptcy are the most commonly filed bankruptcies and an attorney will tell you if you qualify for either one. If you do, he can help you file the necessary paperwork and accompany you to your required bankruptcy hearing. He’ll be able to stop the harassing collection phone calls and stop the past due and late notices in the mail as soon as he files for your bankruptcy protection.
Depending on your assets and financial situation, your bankruptcy attorney in NJ will suggest either a Chapter 7 bankruptcy or Chapter 13. A Chapter 7 is for individuals who have no assets and no way to pay their debts. Their debts are discharged at their court hearing and they can start fresh right away. For individuals with assets, some money in the bank and a reliable income, the attorney will most likely suggest a Chapter 13 bankruptcy. With this bankruptcy, the debtor will pay most of their disposable income to a trustee each month for anywhere from 3 – 5 years. This way you pay a small portion of your debts, but when the payments are completed, the remaining debts are discharged and you are debt free. This type bankruptcy allows individuals to keep some of the assets, though it does take longer for the debts to be discharged. No creditor or debt collector can contact you during this time that you are under bankruptcy protection.
No matter which type bankruptcy your bankruptcy attorney in NJ feels is best for you, it will stop the harassing calls right away and give you a chance to get back on your feet financially. If you don’t know what to do to get out of the financial mess you are in, speak to an attorney today. He’ll be able to help you make the best choices for your financial situation and you will be assured that he’ll be there helping you each step of the way.