Given these tough economic times, more and more New Jersey residents are facing job loss, income reduction, growing debt, foreclosure on their homes, and the threat of bankruptcy. Many people in Gloucester and Camden counties are reluctant to file bankruptcy because it seems so confusing. You may have questions like:

Need Help? New Jersey Bankruptcy Attorney Steven J. Richardson Can Assist in Your Bankruptcy Case

If you ask yourself some of these questions, don't feel embarrassed, confused, or reluctant to discuss an obviously painful situation with a stranger. I am no stranger to the frustrations people feel when facing overwhelming debt, job loss, the loss of their home, or other difficult circumstances. Not only do I believe that I am a compassionate bankruptcy lawyer, but over the years, I have earned the trust and confidence of hundreds of people in New Jersey by helping guide them through these kinds of troubling times.

What Information Is Needed to File Bankruptcy in New Jersey?

The Supreme Court states the purpose of the bankruptcy law as follows: The law gives to the honest but unfortunate debtor...a new opportunity in life and a clear field for future effort, unhampered by the pressure and discouragement of preexisting debt.

Chapter 7

In a Chapter 7 bankruptcy, New Jersey individuals or married couples get a fresh financial start by wiping out most types of debts, like credit cards, medical bills, or personal loans. It allows a person to, in effect, "hit the reset button" on their financial life and still emerge, in the vast majority of cases, with their assets, like their home. Chapter 7 is available to individuals and corporations, partnerships, or LLCs. It does not involve a repayment plan and seeks to end all claims by creditors. I will clarify the Chapter 7 option based on the details of your case. Call me now at 856-432-4113.

Chapter 13

Under Chapter 13, an individual wage earner or self-employed sole proprietor can reorganize their debts and pay part or all of it over three to five years, often without interest. Chapter 13 can save your home from foreclosure by giving you a chance to pay back your debt. An important condition is for the debtor to have a regular income, which will allow them to meet the scheduled payments to the trustee over the period. A conversation with me will clear all this up. Call today at 856-432-4113.

What You Need to File Bankruptcy in New Jersey

To file bankruptcy under either Chapter 7 or Chapter 13 in New Jersey, you must provide the court with the following information:

  1. A list of everyone to whom you owe money and why
  2. Where your income comes from, how often you receive it, and how much it is
  3. A list of all your property
  4. A list detailing your monthly living expenses (including things like food, clothing, shelter, utilities, transportation, taxes, medicine, etc.)
  5. If you are married, you must include your spouse's information as well, even if you are just filing for yourself
Steven J. Richardson
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Bankruptcy, Collections, Student Loan, DUI and Traffic Court attorney in Woodbury, NJ.