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NJ Bankruptcy Statistics: Bankruptcies Down 49% October 20 YTD vs. Prior Year

Bankruptcy Statistics
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It is interesting to note the following current NJ Bankruptcy Statistics:

NJ bankruptcy filings are down 49% when comparing October 2020 YTD versus October 2019 YTD.

Bankruptcy filings are on the decline – even with COVID?

Are people just waiting until all the Stimulus Packages are Ended?

That might not be a good idea since you may qualify for Chapter 7 now.   However, you may not be able to file a Chapter 7 bankruptcy when you return to work.  https://njbankruptcylawfirms.com/chapter-7/

Now that your income is lower, Chapter 7 Bankruptcy can benefit you tremendously and eliminate all of your debts.

Remember:    Stimulus $ do not count toward income eligibility.   Income eligibility is key when I would analyze the best option for filing bankruptcy.

Now is a good time to contact me:   Board Certified Bankruptcy Attorney  https://njbankruptcylawfirms.com/about-attorney-ferro/