Chapter 7 and Chapter 13 Representation in Gloucester County, New Jersey
Some people delay filing bankruptcy because they are afraid of what it will do to their credit. The irony is that most people who are contemplating bankruptcy usually have bad credit to begin with. The fear of filing bankruptcy can lead some people to make terrible decisions, such as raiding an IRA or 401(k) to pay back personal loans or credit card debt.
Do not run the risk of making a bad situation worse. Talk to an experienced bankruptcy lawyer before you make any decisions that may place your financial future at risk. The Law Offices of Steven J. Richardson in Woodbury, New Jersey, serves clients in Gloucester County and Camden County who need help to get relief from overwhelming debt. Contact me today to schedule a confidential consultation to discuss your options. Also feel free to visit my bankrupty blog for more information.
Don't Assume That You Can't File For Bankruptcy!
If you are struggling to manage your debt, you may be uncertain whether bankruptcy is still available to you. Contrary to popular belief, most individuals can still seek protection under the bankruptcy laws. Whether your financial challenges are a result of job loss, medical bills, credit card debt or the current economy, you want a lawyer who fully understands the law, especially in light of recent changes in the Bankruptcy Code.
As a bankruptcy attorney, I have extensive experience in helping individuals and businesses throughout Gloucester County and Camden County address debt management problems. I am proud to provide a high level of personal attention and service to all my clients. I can help you determine whether Chapter 7 or Chapter 13 proceedings offer the best solution to your debt problem.
Chapter 7 Bankruptcy: Discharging Eligible Debts
In a Chapter 7 filing, you are allowed to discharge most types of debts. Once the bankruptcy case is final, these debts are gone forever. In these cases, you are generally allowed to keep your home, your vehicle and your personal possessions depending on their total value. However, certain obligations, such as child support arrearages, most student loans, and some tax debts, may not be eliminated through bankruptcy. For more information on filing under Chapter 7 and determining which assets you can keep as exempt assets in bankruptcy, contact attorney Steven J. Richardson.
The federal bankruptcy laws changed in 2005, making it more difficult for some people to qualify for a Chapter 7 filing. Under the new law, you must show the bankruptcy court that you lack the means to repay your creditors in order to qualify for Chapter 7. I will work closely with you to help you determine if you can file under Chapter 7. I can explain which debts may be discharged and I will work to ensure that any exempt assets are excluded from the bankruptcy.
Chapter 13 Bankruptcy: A Payment Plan for Wage-Earners
If you fail to qualify for protection under Chapter 7, or need to save a home from foreclosure, your only recourse in bankruptcy is under Chapter 13. In a Chapter 13 bankruptcy, you enter into an agreement with your creditors to repay debts over a period of 3-5 years. I will help you prepare and file all necessary documents to obtain the protections allowed by the bankruptcy laws. I will represent you in meetings and hearing with creditors and will review and proposed repayment agreements to verify that they are within your means.
Alternatives to Bankruptcy
Bankruptcy is not a magic wand, and it may not solve all your financial issues. While your credit rating may improve more quickly, bankruptcy also stays on your credit report for 10 years. You should know that there may be other options for getting out of debt. Many people are able to obtain a home equity loan in order to pursue a debt consolidation plan. There are also reputable debt negotiation and consumer credit counseling services that can provide real help.
Be careful when pursuing these options. There are many fly-by-night companies and scammers out there who are looking to take advantage of people who are desperate to find a solution to a financial crisis. If you have already been taken in by a scam, you may be able to file a lawsuit under New Jersey's Consumer Fraud Act. I can help.
For more information on bankruptcy, see my blog, which is updated regularly.
Contact the Law Offices of Steven J. Richardson
For experienced bankruptcy counsel in Gloucester County and Camden County, call my offices in Woodbury at 856-686-9910 to schedule a confidential consultation. You may also send me an e-mail now for answers to your important questions or to request an appointment. Office hours are Monday through Friday from 9 am until 5 pm. Weekend and after-hours appointments are available by appointment.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
