Highly Skilled New Jersey Lawyer Committed
To Providing You With Optimal Results

Passaic County Court House Annnex, Historic Court House and Passaic County Superior

Do You Qualify For Bankruptcy Relief?

If you are experiencing financial hardship and unable to pay your bills, you may qualify to seek relief through filing for Chapter 7 or Chapter 13 bankruptcy. Depending on the nature of your debt and ability to earn income, the law provides a pathway to help you stop creditors from contacting you and to remove your obligation to repay most of your debt or to lower and reorganize your payments for debt.

Not all debts will qualify for Chapter 7 or Chapter 13 debt relief under bankruptcy, however. You will still have to pay outstanding child support debt, student loans, court-ordered restitution for criminal violations and some other debts. The first thing to do is to start. For some, this is the hardest part. Gather all of your bills and tax records and have a conversation with an experienced bankruptcy attorney as soon as possible. When you call me at Acquaviva Law Offices, LLC, you will be working with a compassionate and knowledgeable lawyer who will help you determine if you qualify for filing bankruptcy and assist you with taking the necessary steps to successfully complete the process.

Tough Times Need Smart Strategies

Working harder can only go so far. Because you cannot work 24 hours a day to repay your debt, you will have to work smarter. Many individuals and businesses face unyielding financial difficulties each year. Most people who have not filed bankruptcy within the last eight years and meet certain other restrictions are likely to qualify for bankruptcy such as:

  • Chapter 7 – Also known as a liquidation bankruptcy, allows you to keep exempt property, sell nonexempt property to pay creditors and be legally released of obligation to pay most debts; however, student loans, child support, court-ordered restitution and certain other debts will not be dismissed. Credit counseling is required.
  • Chapter 13 – If you have an income, this method allows you to create a repayment schedule of your debts usually over 60 months; homeowners facing foreclosure may seek relief through this chapter of bankruptcy
  • Chapter 11 – Allows some businesses, frequently partnerships or corporations, to develop a plan to keep their business open and repay creditors over time

You must list all of your debts, assets, sources of income and comply with strict bankruptcy rules. Keep in mind that you may be able to negotiate with creditors for the possibility of lower debts. In most cases, you will sit before a bankruptcy trustee and answer their questions. If you do not, the bankruptcy court may dismiss your case and you will have to wait another eight years before you can file again. The bankruptcy court has full discretion to deny your petition for bankruptcy if you do not meet its requirements.

Get On Track With The Help Of An Experienced Attorney

I am not going to sugarcoat your journey to financial stability. You will have tough decisions to make and commitments to keep. But I will be at your side to help you on your way. Start by sending an email or calling Acquaviva Law Offices, LLC, in Hawthorne at 973-869-5805 to schedule a consultation.

Acquaviva Law Offices, LLC, is a debt relief agency. I help people file for bankruptcy relief under the Bankruptcy Code.