Wage garnishment pending, can't pay mortgage/rent/bills - What can I do?
Creditor levied my bank account, cannot access my money - What can I do?
Getting laid off, want to stop collections while I look for a job - What can I do?
Can I set up bankruptcy payment plan to pay creditors - I cannot pay monthly minimum payments?
Can I get protection from creditors so I can refinance my mortgage?
Can I surrender my house to the bank and stay until the foreclosure sale?
Can I reorganize my past due mortgage payments so I can keep my house or car?
How much can I earn and still file for bankruptcy?
Do I still have to make my car and/or house payment?
Do I have to list all of my creditors?
Can I still use my credit cards?
Can I keep any of my credit cards?
If I'm married but filing as an individual, do I have to give my spouse's information?
I have filed a joint petition; do my spouse and I both have to attend the creditor's meeting?
How long does the bankruptcy process take from start to finish?
I am listed on a bank account that's not mine; do I have to list this as an asset?
I co-signed for another person; do I have to include that debt?
My salary changes from month to month, what amount should I list for my income?
Do I have to file my income taxes while in bankruptcy?
Can I include my back child support in my bankruptcy to be discharged?
What if I forget to list a creditor?
What is disposable income?
Who can file for bankruptcy in New Jersey?
- Any person, partnership, corporation, sole proprietorship, may file for bankruptcy.
- United States citizenship is not required for filing bankruptcy.
What is bankruptcy?
- Bankruptcy is the legal method for a debtor to eliminate or reduce your debts.
- Bankruptcy is a way for people or a business that owes more money than they can pay to either work out a plan to repay the money over time or to have their debts completely eliminated.
- Most debtors who file for bankruptcy are granted a total discharge of all debts.
- One of the main purposes of the bankruptcy act is to relieve the honest debtor from the weight of oppressive indebtedness and to provide the debtor with a fresh start to build a financial future.
Can creditors still call me or send me notes/letters until my NJ bankruptcy is approved?
- As soon as you file, all actions by creditors must stop immediately, whether you filed a NJ Chapter 7 or Chapter 13 bankruptcy.
Will I lose my house, car, and other personal property?
- Not necessarily. I can discuss that with you when you call me or meet with me for a free bankruptcy consultation. I will be very clear and never leave you guessing or unsure.
If I file for bankruptcy, does my spouse have to join in the bankruptcy?
- No. There are many reasons why one spouse would not file or join in the bankruptcy. When you call me, I will advise you what is best for you and your family.
Will filing bankruptcy affect my credit rating?
- If you are a candidate for bankruptcy, you have bad credit now.
- Discharge of your current debt may provide the opportunity to rebuild your credit in the future.
- Most individuals are able to rebuild their credit within a few years.
If I have wage garnishments, judgments or my bank account has been levied, is it too late to file?
- Not at all, as a matter of fact, you should file immediately so you can stop the levies and garnishments immediately.
If I earn over $100,000 gross income per year, can I be eligible for bankruptcy?
- Yes, it is possible. However, this evaluation requires a thorough analysis of what you own, what you earn and what you owe to determine eligibility.
- In fact, several of my clients earned over $100,000 per year and successfully filed for bankruptcy.
Can I keep my retirement account(s)?
- Yes – for a qualified retirement account, it is possible. When you call me, I will discuss your specific retirement accounts and their eligibility.
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Ralph A. Ferro, Jr., Esq.
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66 East Main Street, 3rd Floor
Little Falls, NJ 07424
Timing of Filing Bankruptcy is Key Timing of filing your bankruptcy is very important. There are ...