NJ Bankruptcy Law Firms

66 East Main Street, 3rd Floor
Little Falls, NJ 07424
NJ Bankruptcy Law Office Logo (Transparent) dictating Ralph A. Ferro Jr., Esq's Law Practice

Chapter 7 Bankruptcy | NJ Bankruptcy Law Firm

New Jersey Bankruptcy Lawyer!

With 30 Years of Proven results!
"I personally meet with You and represent You!"
"I have never Lost a Chapter 7 Bankruptcy Case"
"Experience = Results"
About Ralph A. Ferro Bankruptcy Lawyer

Chapter 7 Bankruptcy Information

Eligibility: Individuals, Corporations, and Business Entities (Sole Proprietors/Partnerships)
  • Chapter 7 Bankruptcy is a liquidation of a debtor’s non-exempt assets – after bankruptcy you are debt free  (*see below for examples of exempt assets & non-dischargeable debts).
  • Although called liquidation, frequently there are no assets to liquidate and you obtain approval to no longer pay any of your debts
  • If eligible, a person or business has a great opportunity to eliminate debts (both consumer and non-consumer) 
  • Move forward in a short period of time (approx. 3 months)
  • STOP immediately upon filing:
  • Levies
  • Lawsuits
  • Old Tax Debt
  • Medical Bills
  • Vehicle Repossessions
  • Liens
  • Annoying Phone Calls
  • Business Debts
  • Credit Card Payments
  • Legal Fees to Former Attorneys
  • Wage Garnishments
  • PayDay Loans 
  • Information Subpoena Requests
  • Personal Loans
  • Gambling Debts

Why File Chapter 7 Bankruptcy?

  • No hope or ability to pay back your debts.
  • Monthly payments & interest keep sinking you deeper into debt.
  • No disposable money left for you and/or your family, after making your monthly payments.
  • High Medical Bills – You may have insurance but deductibles and co-pays resulted in high bills.
  • Personal Guarantees of Loans for Businesses and/or Others.
    • You personally guaranteed a car loan for a friend.
    • Your friend defaulted on the loan and the creditor is looking to you for payment.
    • You personally guaranteed a business debt but the business is closed/no longer in operation and the creditor is looking to you for payment.
  • Repossession of a Car – Your car was repossessed – the amount owed is more than your car’s value.  The creditor is requiring you to pay the difference.
  • Car Payment Balance is more than your car is worth; you can get rid of your car and no longer owe car payments.
  • Old Tax Debt – Under certain circumstances, you can get rid of old tax debts owed to IRS or the State of New Jersey
  • Owe More than Your Home is Worth – you can surrender your home and never be liable for the balance owed – regardless of how many mortgages, lines of credit, home equity loans, etc. exist.
  • Gambling Debts are high and you just cannot pay these back.

My Commitment to My Clients:

  • Reachable – you can call me on my cell phone (201) 446-5904
  • Respond to your emails/texts quickly
  • When I file your Chapter 7 petition, I am with you from the start of the case until the end of your case and beyond.
  • Provide expert advice.   I am Board Certified in Consumer Bankruptcy by the ABC.
  • You have bankruptcy protection immediately, no creditors may contact you
  • When your bankruptcy is completed, my clients have debts erased/discharged
  • After only 3 months, you start over with a clean slate and a fresh start
  • Meet with you in person for a free bankruptcy consultation
  • Before moving ahead, I understand your goals and your financial situation
  • Determine if filing bankruptcy is in your best interests
  • If filing bankruptcy is not right for you, I will not recommend bankruptcy for you
  • Your file gathers no “dust”; there is constant activity – no follow up on me required (see my clients’ reviews)

Ralph A. Ferro, Jr., Esq.

Bankruptcy Lawyer

American Board Certification in Chapter 7, Chapter 11, and Chapter 13 Bankruptcy, earned by Ralph A. Ferro JR., Esq, a bankruptcy attorney operating in New Jersey

Board Certified in Consumer Bankruptcy Law

I am always reachable on my Cell: (201) 446-5904

I have a 100% success rate with all filed Chapter 7 Bankruptcies

If bankruptcy is not right for you – I will not file your case.

100% of my firm is focused on representing clients in New Jersey Bankruptcy matters.

“Expertise in bankruptcy is essential so clients get the expert advice for their financial future”

*Exempt Assets - You Keep

  • $14,875 of household goods & $4,450 equity in car
  • Jewelry (will discuss with you)
  • All retirement accounts
  • Up to $27,900 per spouse home equity

*Non-Dischargeable Debts (cannot eliminate with bankruptcy)

        • Alimony/child support
        • Tax Debts (certain)
        • Sales and Use Taxes
        • Debts incurred through Fraud
        • Injuries caused by DWI/DUI

          Ralph A. Ferro, Jr., Esq.    Chapter 7 NJ Bankruptcy Lawyer

Free Bankruptcy Consultation                           Call Now:   (201) 446-5904      

Chapter 7 Bankruptcy Blog

Ralph A. Ferro Law Office Building Picture