Chapter 7 Bankruptcy Law Firm Helps New Jersey Clients Secure Debt Relief
Experienced Marlton bankruptcy attorneys provide thoughtful guidance
At The Law Offices of Andrew B. Finberg, LLC in Marlton, our goal as a New Jersey bankruptcy law firm is to get you past your financial difficulties quickly so that you can move toward a healthier financial future. We understand that any number of life situations can lead someone to experience overwhelming debt. Our dedicated attorneys can determine if Chapter 7 debt discharge is the best solution for you or if another strategy will better suit your needs.
Knowledgeable advocates advise on the Chapter 7 means test
Most people filing for Chapter 7 bankruptcy must qualify under what is known as the means test. This is an evaluation that compares your monthly income to that of the New Jersey median family income for a household of the same size. You qualify if your family income is below the average. If it is above that figure, you may still be able to qualify for Chapter 7 debt relief if your net income satisfies the standard after subtracting certain allowable expenses.
Our firm can help you with eligibility issues and advise you on other options, such as a Chapter 13 repayment plan.
Trusted law firm assists with asset liquidation and debt discharge
Getting relief from creditors and overwhelming debt are the primary benefits of filing for Chapter 7 bankruptcy. Debts that can be discharged include credit card charges and late fees, medical bills, collection agency accounts, past due rent and utility bills and possibly certain tax obligations. As soon as you file, an automatic stay goes into effect, prohibiting further debt collection activities. Chapter 7 bankruptcy is known as a liquidation bankruptcy because the Chapter 7 trustee will likely sell some of your nonexempt assets to address as much of your debt as possible before the court agrees to discharge the remainder. However, the law also allows you to hold onto certain assets through exemptions.
Our knowledgeable bankruptcy attorneys can help you determine which assets are eligible for exemptions, possibly including your home, vehicle and some household items, so that you get the maximum protection available.
Preparing for your appointment with a bankruptcy lawyer
If you’d like to explore filing for Chapter 7 bankruptcy, one of our seasoned debt relief attorneys will sit down with you and thoroughly analyze your situation. So that we can confirm your eligibility and make other recommendations, it’s necessary that you bring certain information to your appointment:
- A complete list of your debts and creditors’ names
- Your employment information and your gross and net income
- Any other sources of income and the monthly amounts
- A list of your monthly bills
- A comprehensive list of what you own along with estimated values
This information can help us determine if Chapter 7 bankruptcy is appropriate for you.
Contact a skilled New Jersey bankruptcy attorney
Call The Law Offices of Andrew B. Finberg, LLC today at 856-452-7633 or contact us online for a free consultation about filing for Chapter 7 bankruptcy in New Jersey. We will determine if this type of bankruptcy is appropriate for you and guide you through the process.