Lawyers Handling Chapter 7 and Chapter 13 Bankruptcy

Are you in debt? Do you need a fresh start in your financial matters that a bankruptcy could provide? It might be time to talk with a lawyer about filing for bankruptcy.

There are two primary kinds of consumer bankruptcy, called chapters. Chapter 7 is to obtain a discharge of your existing debts. Under Chapter 7, you may claim certain of your property as exempt and keep it. Chapter 13 is designed for individuals with regular income who would like to pay all or part of their debt in installments over a period of time. Chapter 13 is often used by debtors who are trying to protect their equity interest in secured property, like a home or automobile.

Even if you receive a general discharge, some particular debts are not discharged under the law. Therefore, you may still be responsible for most taxes and student loans; domestic support and property settlement obligations; most fines, penalties, forfeitures and criminal restitution obligations; and debts for personal injury caused by DUI.

All individual debtors who file for bankruptcy relief must complete a briefing with a Court approved credit-counseling agency within 180 days before the bankruptcy filing.

The Clerk of the Bankruptcy Court has a list of approved agencies. In addition, after filing, each debtor must complete a financial management course before he can receive a discharge.

The initial consultation is free. Call Joanne Gardner at 908-782-5900 and we can discuss your options.

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