New Jersey Chapter 7 Liquidation Attorney
Premier Chapter 7 Bankruptcy Law Services
A number of different circumstances can lead to your own personal debt crisis. Owing money you cannot repay does not represent recklessness and irresponsibility. The sudden loss of a job, illness, injury, and taking in of a family member in need can lead to financial strain. Once you have gotten into debt it is difficult to recover. At some point the struggle to pay your bills becomes futile and can take over your life.
If you have reached this stage, you should consider bankruptcy. Filing for bankruptcy no longer carries the stigma it once did. Many people use it as a tool to re-establish their financial footing after a great and unforeseeable shock.
Get A Clean Start
Filing Chapter 7 wipes out your debt and gives you a clean start. It is a liquidation in which a trustee collects all your non-exempt assets and sells them. The net proceeds of these transactions are distributed to your creditors and a commission is given to the trustee. It is important to note that alimony, child support, certain tax debts, and Chapter 7 does not cover student loans. You will need to go on paying them. Chapter 7 applies mostly to credit card and other unsecured loans.
Not all of your assets need be collected and sold. You may be able to reaffirm items such as your car or your house. However, you will need to go on paying down those loans, and you will need to bring them current if they are to be left untouched.
It is important to have a New Jersey Chapter 7 liquidation attorney by your side as you go through this process. Wasserman, Jurista & Stolz P.C. is a dedicated and diligent bankruptcy lawyer who will ensure that you are treated with fairness and justice as the bankruptcy order is carried out. Although you are in a vulnerable state, you still have rights.
Working with the right bankruptcy attorney in New Jersey will ensure that your interests are protected, and that you can truly make a clean financial start.