bankruptcy | New Jersey bankruptcy lawyer

Mounting Debts, Vanishing Income, Foreclosure, and Bankruptcy: Is There Any Relief for You in New Jersey?

It wasn't supposed to be like this. High hopes, enthusiasm, and hard work were going to give you and your family a stable and comfortable place in our competitive society. Instead, you are now drowning in debts and facing the dreadful possibility of losing everything you have.

The reasons why people go bankrupt are as varied as the people themselves: job loss, divorce, back taxes, medical bills, overspending, bad investments, and more. Small and medium-sized New Jersey businesses clobbered by the recession are also a source of personal financial distress.

If you are coping with a meltdown of your personal finances in Gloucester, Camden, or surrounding counties, you need a New Jersey bankruptcy lawyer you can trust.

You Are Not Alone

Thousands of people have gone through the legal process of seeking debt relief and protecting their assets through bankruptcy. It is a straightforward legal solution that is neither daunting nor shameful.

You Have Options

Fear and anxiety are your worst enemies. You can get rid of them by springing into action.

  • Gather information. The first thing to do is to collect all your financial information in a file. You will need this file for any future discussion about debt relief. There is a lot of information on this website about bankruptcy. A look at the FAQs, the Library, the Blog posts, and the News will clarify the process and take away many of the worries and questions you might have.
  • Talk to a New Jersey bankruptcy attorney. I will discuss your case free of charge and open all the windows of opportunity. Bankruptcy law was designed for people in your situation to find relief and start a new life on a realistic base. All the many possibilities of discharging debt, protecting assets, and getting rid of creditors will be explained in great detail.

Richardson Law Office Provides Confidential, Personalized Service for New Jersey Bankruptcies

When you come to me for help, you won't have to tell your story to a variety of legal assistants of unknown experience or competence. I will personally study your file and take care of your case, drawing on my 20 years of experience in the Camden, Gloucester and surrounding county district courts to effectively protect your rights. I have helped steer thousands of people back to financial health by fighting to reduce their debts to a manageable level, protecting their assets, or preventing home foreclosure.

As a New Jersey bankruptcy attorney, I perform a variety of tasks to assist my clients, including:

  • Providing legal advice on the most appropriate type of bankruptcy filing, considering the client's unique financial situation.
  • Analyzing the client's debts, assets, income, and expenses thoroughly to determine the best course of action.
  • Guiding clients through the process of preparing and filing their bankruptcy petitions, ensuring all documents are accurate and complete.
  • Representing clients in court and at bankruptcy-related hearings, where I advocate on their behalf and interact with creditors.
  • Educating clients about the consequences of bankruptcy, such as its effects on their credit scores and future financial opportunities.
  • Offering advice on debt management and strategies for financial recovery after the bankruptcy process is complete.
  • Providing personalized support throughout the bankruptcy process, addressing any concerns or questions, and helping clients understand each step to make informed decisions.

Types of Bankruptcy 

There are several types of bankruptcy in the United States, each designed for different situations. These are the most common types:

  • Chapter 7 Bankruptcy: Often referred to as liquidation bankruptcy, Chapter 7 is designed for individuals with little to no disposable income. It involves the liquidation of non-exempt assets by a trustee to pay off creditors. After the liquidation, most remaining unsecured debts are discharged. This option is typically for those who cannot afford to pay back their debts.
  • Chapter 13 Bankruptcy: This is a reorganization bankruptcy for individuals with a regular income. Chapter 13 allows debtors to keep their property and pay back all or a portion of their debts over a three to five-year period. It's suitable for those who can afford to make regular payments and wish to avoid foreclosure on a home or repossession of other assets.
  • Chapter 11 Bankruptcy: Primarily used by businesses, Chapter 11 allows for reorganization under the bankruptcy laws. Companies can continue operating while they work out a plan to pay off their debts. It can be more complex and expensive than other types of bankruptcy, so larger organizations typically use it. However, it's also available to individuals with debts or assets that exceed the limits of Chapter 13.
  • Chapter 12 Bankruptcy: Specifically designed for family farmers and fishermen, this type offers more flexibility than Chapter 13. It acknowledges the seasonal nature of agricultural and fishing income and allows for a payment plan tailored to these unique circumstances.

Get Help Rebuilding Your Credit After Filing for Bankruptcy in New Jersey

I don't just wave goodbye to my clients after their bankruptcy filing is done. I offer all my New Jersey clients a unique and important service: credit rehabilitation advice.

After bankruptcy, you are allowed a fresh start. However, many obstacles will still stand in your way. You may think it is unfair, but your new financial balance, lifestyle, and strict payment schedules will not immediately convince banks or credit card companies that you are credit-worthy again. You must rebuild your rating, establish new credit lines, and clean up your credit report. This is where my Credit Rehabilitation Program can help get back on your financial feet and restore your credit.

Steven J. Richardson
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Bankruptcy, Collections, Student Loan, DUI and Traffic Court attorney in Woodbury, NJ.