Ralph A. Ferro, Jr., Esq. Bankruptcy Lawyer
Sussex County NJ Bankruptcy Attorney
I am a Sussex County NJ Bankruptcy Attorney, Board Certified, who can help you with your financial concerns. Here is a list of some of the many benefits that my clients have received by working with me:
- Saved a client’s home from foreclosure
- Enabled a client to keep their vehicle
- Obtained a strip-off of a 2nd mortgage
- Stopped creditors from calling and proceeding with wage garnishments
- Stopped a foreclosure
- Enabled a client to stay in their homes with bankruptcy protection
- Kept a client’s business operational
- Afforded my clients the ability to get a fresh start
I am bankruptcy attorney serving the great towns in Sussex County NJ.
Sussex County is a vital community in NJ continuing with farming and agriculture. More facts:
- was formed in 1753
- named for Sussex, England
- main economic activities are services and retail trade.
- also important are mining, insurance, and agriculture (hay, dairy products, and livestock).
I help people not only to get rid of their debts but also to get rid of the stress and problems affecting their lives with crushing debts.
When debt is eliminated, immediate changes in lives and well-being start to turn around. Client’s business relationships improve as well as their personal relationships.
I provide my clients with the reinforcement that everything is going to be OK and it is not the end of their world.
I am always available on my cell phone (201) 446-5904.
Call me and set up a free no-obligation bankruptcy consultation. I will review your current situation and provide you with expert advice to move forward.
I am here to meet with you – contact me now
Ralph A. Ferro, Jr., Esq. | Sussex County NJ Bankruptcy Law Firm
(201) 446-5904
Sussex County Chapter 7 Bankruptcy
Liquidation Chapter. What does this mean to a debtor?
- Retain certain assets
- Remaining assets, if any, value is distributed pro rata to the debtor’s creditors
- Most often, a debtor under a Chapter 7 has no assets
- Keep exempt assets, e.g. leased/financed cars can be kept
- There is a generous homestead exemption
- If you are not a homeowner, you can use up to 50% of the homestead exemption for your other assets.
By filing Chapter 7, Ralph A. Ferro, Jr., Esq. Law Firm can help you get a fresh start and your debts eliminated.
Contact us right away for a free bankruptcy consultation. Stop worrying today.
Sussex County Chapter 13 Bankruptcy
Reorganization Bankruptcy What does that mean?
Most individuals file chapter 13 to save their home foreclosure due to past due mortgage payments.
- Modify your mortgage and credit card or unsecured debt
- Mortgage arrearages: you take your past due mortgage payments and spread the repayment over 60 months (5 years).
- Credit Card and/or unsecured Debts: you can pay a low percentage back to your creditors, depending on your income and your assets. When we meet, I will evaluate your situation in detail.
- Save your assets – you do not lose your assets.
However, many individuals file Chapter 13 Bankruptcy who do not own a home.
- Debtors want to keep their assets and reorganize their debts.
Contact us right away for a free bankruptcy consultation. Stop worrying today.
Sussex County Chapter 11 Bankruptcy
- Chapter 11 is similar to Chapter 13 Bankruptcy since the Debtor creates a Plan of Reorganization (“Plan”) and pays back creditors over a period of time. Through the Plan, not all your debts are paid back and there is a possibility that a small portion is paid to your unsecured creditors. This is all worked out through the filing of a Petition and a Plan.
- In most cases, Chapter 11 bankruptcies are intended for businesses with high debts.
- However, some high-debt individuals can file a Ch. 11 Bankruptcy since they do not qualify for a Chapter 13 bankruptcy because they exceed the Chapter 13 debt limits.
- Ch. 11 is complex and it is best to meet with me for a free consultation. In this way, I review your financial situation and your goals to see whether Chapter 11 is best for you.
- In the past, Chapter 11 bankruptcies were primarily used for large businesses as the process is quite involved and a major monetary commitment is needed. Now, there is the option of Subchapter V of Chapter 11 Bankruptcy which allows small businesses to take advantage of the bankruptcy process in a faster and less expensive process.
Contact us right away for a free bankruptcy consultation. Stop worrying today.
