66 East Main Street, 3rd Floor
Little Falls, NJ 07424
NJ Bankruptcy Law Office

Chapter 13 Bankruptcy

Board Certified in Consumer Bankruptcy

New Jersey Bankruptcy Lawyer!

With 28 Years Of Proven results!
"I personally meet with You and represent You!"
"I have never Lost a Chapter 7 Bankruptcy Case"*
"Experience = Results"
NJ Bankrupcty Law Firm
NJ Bankruptcy Law Firm

Ralph A. Ferro, Jr., Esq. Bankruptcy Lawyer

Board Certified in Consumer Bankruptcy Law

Chapter 13 Bankruptcy

Eligibility: Individuals only – not for Businesses
  • Chapter 13 Bankruptcy is a reorganization in which individuals utilize their income, and pay back a portion, or all of their debts.
  • Ralph A. Ferro, Jr., Esq. will enact a plan that has an established timeframe of 5 years or less.
  • 1 monthly payment to 1 person (Chapter 13 Bankruptcy Trustee) satisfies your debts over the plan period.
  • Allows you to reorganize past-due tax debt – STOP IRS liens and levies.
  • STOP immediately upon filing:
  • Lawsuits
  • Car repossessions
  • Late fees
  • Annoying telephone calls
  • Wage garnishments
  • Home foreclosure
  • Debt interest
  • Annoying letters
Why File Chapter 13 Bankruptcy instead of Chapter 7?
  • You are ineligible for a Chapter 7 bankruptcy due to high income or asset issues or a prior Chapter 7.
  • Need to catch up with past due mortgage and/or car payments & want to stay in your home & keep your vehicles
  • There is equity in your home and a Chapter 7 would not allow you to keep your home.
  • Your income allows you to pay back part of your debts but not all.

Example: You have disposable income of $1,000 per month after your basic living expenses but your minimal monthly credit card payments are $2,500 per month. 

In this situation, you have the ability to pay back something to your creditors but not all you owe

  • Payments for your debts are evaluated upon what you can afford.

NJ Bankruptcy Law Office