NJ Bankruptcy Law

September 2, 2013

Benefits of a Chapter 13 Bankruptcy

When an individual schedules an appointment to talk with a bankruptcy attorney in NJ they may be given several options including filing either a Chapter 7 or a Chapter 13 bankruptcy. If they have too much income they may not be able to file a Chapter 7 bankruptcy. But the Chapter 13 may be much more advantageous in some situations than the Chapter 7. There are certain situations where one option is better than the other and in many instances […]
August 26, 2013

Benefits of a Chapter 7 Bankruptcy

When you talk to a bankruptcy attorney in NJ he will explain how filing a Chapter 7 bankruptcy is a process of federal law that allows for individuals or businesses to make a fresh start. Chapter 7 will eliminate most of an individual’s unsecured debt and is usually the suggested type of bankruptcy for a person who has no assets, or at least very few of them. In most cases the unsecured debts that are released through a Chapter 7 […]
August 22, 2013

What is Chapter 13 Bankruptcy?

A Chapter 13 bankruptcy will include a 3 to 5 year repayment plan which will allow a debtor to repay creditors by paying off total amounts or partial amounts of the debts. A Chapter 13 can prevent a foreclosure on a house, pay back taxes, and stop a tax debt from accruing interest, help make up missed payments on a house or car and any number of other things. As long as an individual stays to the proposed repayment schedule […]