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

Frequently Asked Questions

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"*
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NJ Bankrupcty Law Firm

There is no limit on income. The amount of income you earn determines your eligibility for different Bankruptcy Chapters.

Call to discuss your options: Ralph A. Ferro, Jr., Esq. (201) 446-5904

Set up a free consultation to discuss your bankruptcy options so that the garnishments can be stopped immediately.

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Set up a free consultation to discuss your bankruptcy options so that the levy can be lifted and any money taken can be returned to you.

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Set up a free consultation to discuss your bankruptcy options and stop collections immediately.
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Yes, Chapter 13 may be an option for you.
Set up a free consultation to discuss your bankruptcy options.
Call: Ralph A. Ferro, Jr., Esq. (201) 446-5904

Yes, Chapter 13 may be an option for you.
Set up a free consultation to discuss your bankruptcy options.
Call: Ralph A. Ferro, Jr., Esq. (201) 446-5904

Yes.
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Call: Ralph A. Ferro, Jr., Esq. (201) 446-5904

Yes.
Set up a free consultation to discuss your bankruptcy options.
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In a Chapter 7 Bankruptcy, you will generally want to stay current with debts secured by assets you want to keep (e.g. your car, your home).
In a Chapter 13 Bankruptcy, you continue to make your regular house payments after filing bankruptcy, but any arrearages/past due payments are included in your Chapter 13 Plan payments.
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Call: Ralph A. Ferro, Jr., Esq. (201) 446-5904

You need to include all creditors that do not have a zero balance.
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You should not incur any additional debt once you know you are going to file Bankruptcy.
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This varies based upon the creditor as to whether they offer a reaffirmation agreement or not.
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Typically, only their income information is needed as part of household income.
If there are joint debts, these joint debts must be disclosed.
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Call: Ralph A. Ferro, Jr., Esq. (201) 446-5904

Yes.
Set up a free consultation to discuss your bankruptcy options.
Call: Ralph A. Ferro, Jr., Esq. (201) 446-5904

Typically, 3-4 months from start to finish – however, the day you file you have instant bankruptcy protection.
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Yes.
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Yes, all debts must be included in your Bankruptcy Petition.
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In most cases, you include the most recent 6-12 months of your salary and divide by that number to arrive at an average monthly salary.
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Yes, but extremely unlikely due to the stringent requirements with current laws in place.
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Yes
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No, child support and/or alimony cannot be discharged.

You may add a creditor post-petition; there may be additional fees associated with doing so.
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This is the amount of money left after deducting your living expenses from all sources of your income.
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Any person, partnership, corporation, sole proprietor or limited liability company may file for bankruptcy.
You must live in New Jersey and/or own property in New Jersey.
United States citizenship is not required to file bankruptcy.
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  • Legal method for a debtor to eliminate or reduce debts.
  • Way for people or a business that owe 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.
  • Purpose of Bankruptcy Code 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.
Set up a free consultation to discuss your bankruptcy options.
Call:   Ralph A. Ferro, Jr., Esq. (201) 446-5904
As soon as you file any bankruptcy chapter in New Jersey, all actions by creditors must stop immediately.
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Not necessarily. I assure you that I will be clear and never leave you guessing or unsure about what items you will lose. No one lost a house under my watch unless they wanted to leave their house.
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No. There are many reasons why one partner would not file or join in the bankruptcy.
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Call: Ralph A. Ferro, Jr., Esq. (201) 446-5904

Temporarily it will.

  • If you are a candidate for bankruptcy, you most likely have bad credit now.
  • Discharge of your debts will provide you with the opportunity to rebuild your credit moving forward.
  • Individuals are generally able to rebuild their credit in a short period of time.

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No definitely not. You should file as soon as possible so you can stop the levies and garnishments immediately.
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  • 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.

Set up a free consultation to discuss in more detail.
Call: Ralph A. Ferro, Jr., Esq. (201) 446-5904

Yes.
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Call: Ralph A. Ferro, Jr., Esq. (201) 446-5904

Yes.
Set up a free consultation to discuss in more detail.
Call: Ralph A. Ferro, Jr., Esq. (201) 446-5904

NJ Bankruptcy Law Firm
NJ Bankruptcy Law Firm
NJ Bankruptcy Law Firm
NJ Bankruptcy Law Office