Here’s What You Need to Know About Chapter 7 Bankruptcy in New Jersey

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When a person finds themselves in a situation where they’ve accumulated debt that they simply cannot pay off on their own, they may feel overwhelmed and unsure of where to turn. Fortunately, if you’re reading this, you’re in the right place. Our firm has helped countless clients through each step of the bankruptcy process for decades, enabling them to take back control of their financial situations and move on with their lives. If you’re considering filing for bankruptcy, you should understand that there are various types of bankruptcy, and the type that’s best for you will depend on your individual situation. Please continue reading and reach out to our competent Bergen County Chapter 7 bankruptcy lawyer to learn more about Chapter 7, whether it’s right for you, and how we can help you through each step of the legal process ahead.

What happens when I file for Chapter 7 bankruptcy?

When someone files for Chapter 7 bankruptcy, it will allow them to retain possession of a wide array of assets and property thanks to the Automatic Stay, including their home, motor vehicle, and more. Typically, when filing for Chapter 7 bankruptcy, a person will first have to go through the bankruptcy means test, wherein it will be determined whether they are eligible to file for Chapter 7 bankruptcy. From here, their debts will be listed and schedules will be signed. Finally, debts and liens will be filed with the bankruptcy court, initiating the bankruptcy process.

If you would like to learn more about Chapter 7 bankruptcy, whether you may qualify, and how it may benefit you and your family, we are here to help. Simply reach out to our competent Bergen County bankruptcy lawyer today.

CONTACT OUR EXPERIENCED NEW JERSEY FIRM

The Law Office of Boyd & Squitieri prides itself on providing our clients with the competent, honest, and effective legal advice they deserve. Whether you are facing sex crime charges, require assistance filing for bankruptcy, or are looking to go through the foreclosure mediation process, you can depend on us to fight for your rights through every step of the process going forward. Contact the Law Office Boyd & Squitieri today to learn more about how our legal team can help you.

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