Hudson County in New Jersey is currently the fastest-growing county in the Garden State. Since 2010, Hudson County has experienced a sharp 9% growth in population. Bankruptcy is frequently thought of as a “last resort option”. However, this is not the case. What’s more, uninformed individuals will seek advice and assistance from companies like debt consolidation or debt resolution firms who offer deceitful answers and solutions to your financial pitfalls. By trusting these false resources, you push yourself further and further away from a fresh financial start.
Our lawyers at Scura, Wigfield, Heyer, Stevens, & Cammarota LLP are equipped to guide you down the best path for you and your family. With over 40 years of success, we have helped thousands of debtors file bankruptcy and get started on their new future. Our offices are located in Wayne, Hoboken, Newark, and Hackensack to serve you better.
In a Chapter 7 bankruptcy case, your general unsecured debts like medical bills and credit cards will be wiped clean. There will also be no need to repay balances through a repayment plan. To qualify for Chapter 7 bankruptcy, there are certain income levels you must meet. If you make more than the maximum amount, you will have to file a Chapter 13 bankruptcy case.
Though Chapter 7 can work swimmingly for low-income debtors will few or no assets, it can also work for filers whose discharged debt stretches beyond their property value sold. Visit our office to determine if this is your best course of action.
In a Chapter 13 bankruptcy case, a debtor’s payments are reorganized to help you pay over each month. Through this repayment plan, you can keep all of your property, including your non-exempt assets. Nonetheless, you must pay creditors an equivalent quantity to your non-exempt property’s worth. In exchange, the debtor will return all or a portion of your debts through the repayment plan.
To reiterate, Chapter 13 is for debtors who do not qualify for Chapter 7, have non-dischargable debt like child support or alimony, and have fallen behind on a car or house payment.
We can help determine which type of bankruptcy is right for you and your family or business. Our New Jersey attorneys have the resources necessary to assist you in navigate the filing process. Visit us for a free consultation at (973) 330-8508.