The words “filing bankruptcy” or “bankruptcy protection” or “Stop foreclosure” or “Chapter 7 Bankruptcy”, “Chapter 11 Bankruptcy”, “Chapter 11 Subchapter V” and/or “Chapter 13 Bankruptcy” can create confusion to individuals in financial distress which is why I try to answer some questions below in the frequently asked questions (FAQs) section. The majority of the time bankruptcy clients are not regular long-term clients and not repeat clients. Clients come to me for a way to improve their situation, learn, gain new spending habits, and move forward.
Compiled below is a list of the basic frequently asked questions (FAQs) with answers. You can read through these to obtain some insight. The questions and answers will be sufficient for you to gain an understanding of the process and answers to your particular situation. This list of questions is not all-inclusive. Bankruptcy is a specialized field of law with specific terms.
I will set up an in-person free bankruptcy consultation and provide details pertinent to your situation.
I will take the time to provide you with accurate legal advice. You should never file bankruptcy without a complete understanding of bankruptcy. I am here for you, call me today for bankruptcy protection.
If you have any questions not listed in our frequently asked questions (FAQs) section, please don’t hesitate to reach out.
There is no limit on income. The amount of income you earn determines your eligibility for different Bankruptcy Chapters.
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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.
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Yes, Chapter 13 may be an option for you.
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Yes.
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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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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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Yes.
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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.
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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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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Temporarily it will.
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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.
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