Bankruptcy Overview – Montville & Kinnelon, NJ

Bankruptcy is a solution for the financial difficulties many people encounter.  Perhaps you have unmanageable debts brought on by job loss, divorce, or a medical crisis.  Creditors have garnished your wages or bank accounts.  Your credit card debt has gotten out of control.  You may be late on mortgage payments and wonder how to save your home from foreclosure?  Is filing bankruptcy an option that could stop creditor harassment?

If you are seeking debt relief and have considered filing for bankruptcy protection you are not alone.  Millions of Americans file bankruptcy every year.  As experienced New Jersey bankruptcy lawyers, the Law Offices of Marc P. Feldman can help you find debt relief.  We have helped hundreds of people throughout Montville, Kinnelon, Morris County and northern Newew Jersey file for bankruptcy protection and obtain debt relief from financial hardship, save their homes from foreclosure, and stop creditor harassment.  Like them, you may simply need the fresh start that bankruptcy provides.  Call 973-267-7555 so I may assess your situation and help you determine if bankruptcy is right for you.

Chapter 7 Bankruptcy

For most consumers, there are two basic options for bankruptcy protection.  Chapter 7 Bankruptcy, or liquidation, allows consumers be discharged most if not all of their debts.  There is an income limit for consumers who wish to file Chapter 7 called the “Means Test”.  Although your income may be above the Means Test Limit, you still may be able to take advantage of Chapter 7.  Most if not all of your debts will be discharged.

Chapter 13 Bankruptcy

Chapter 13 Bankruptcy is the second option for most consumers.  Under a Chapter 13 Bankruptcy, the debtor will pay back some if not all of their debts over a period of 36 to 60 months.  Chapter 13 is most used when 1) your income is above the Means Test Limit; 2) you are behind on secured debts, such as a mortgage or car loan, and you now have the financial means to get the payments caught up; and 3) you have non-dischargeable debts, such as past income taxes, that you would like to pay back over time while being protected from your other creditors.  Once you have completed your Chapter 13 Plan you will receive a discharge.

Bankruptcy can help many consumers find relief from their creditors.  Home Foreclosures, Creditor Harassment, and Garnishments are a few of the financial headaches that can be stopped by filing bankruptcy.

Stop Home Foreclosure: You have worked hard to live the American Dream of homeownership.  If you have been dealt one of life’s many setbacks and are in jeopardy of losing your home to foreclosure, contact us to learn if bankruptcy can help you save your home from foreclosure.

Stop Creditor Harassment: Collectors can be relentless when trying to collect a debt.  They will call you non-stop.  They may even call your family or your work.  Their goal is to pressure you into paying them money.  Some even resort to leading you to believe you will be arrested.  All of this creates a severe emotional and mental strain on you and your family.  Bankruptcy can put a stop to creditor harassment.  Once you hire us you can refer your creditors to our office.  You can tell them that you have hired an attorney, give them our phone number and tell them to call us to confirm representation.

Getting Started: The hardest thing about filing for bankruptcy protection is contacting an attorney.  Many people think that contacting a bankruptcy lawyer is the last thing they should do.  On the contrary, talking to us is the first thing you should do when faced with a financial crisis.  Call 973-267-7555 and find out how filing for bankruptcy protections can help you.