Highlands Chapter Seven Lawyer - Bankruptcy Chapter 7 Eliminates Debts
Highlands Chapter Seven Bankruptcy Lawyer - If you are considering a Chapter Seven Bankruptcy our Highlands Bankruptcy Attorneys can help you obtain the debt relief a Chapter 7 Bankruptcy provides. Speak to a Highlands Chapter 7 Bankruptcy Attorney who can answer all of your Bankruptcy questions. Home foreclosure and financial debt problems are facing all New Jersey residents. A Chapter 7 bankruptcy will help eliminate debts and stay all debt collection efforts. If you qualify for a Chapter Seven a discharge of almost all types of debt can be achieved. Federal courts have exclusive jurisdiction over bankruptcy cases. This means that a bankruptcy case cannot be filed in a state court. The primary purposes of the law of bankruptcy are to give an honest debtor a "fresh start" in life by relieving the debtor of most debts, and to repay creditors in an orderly manner to the extent that the debtor has property available for payment. A bankruptcy case normally begins by the debtor filing a petition with the bankruptcy court. A petition may be filed by an individual, by a husband and wife together, or by a corporation or other entity. The debtor is also required to file statements listing assets, income, liabilities, and the names and addresses of all creditors and how much they are owed. The filing of the petition automatically prevents, or "stays," debt collection actions against the debtor and the debtor's property. As long as the stay remains in effect, creditors cannot bring or continue lawsuits, make wage garnishments, or even make telephone calls demanding payment. Creditors receive notice from the clerk of court that the debtor has filed a bankruptcy petition. Some bankruptcy cases are filed to allow a debtor to reorganize and establish a plan to repay creditors, this is known as a Chapter 13 case, while other cases involve liquidation of the debtor's non-exempt property. In many bankruptcy cases involving liquidation of the property of individual consumers, there is little or no money available from the debtor's estate to pay creditors as most of the property is exempt from liquidation. As a result, in these cases there are few issues or disputes, and the debtor is normally granted a "discharge" of most debts without objection. This means that the debtor will no longer be personally liable for repaying the debts. Our Highlands Chapter Seven Bankruptcy Lawyers can assist you in discharging your debts. Our Lawyers can provide Highlands residents Bankruptcy assistance they need to obtain a fresh financial future.
One question we get frequently as Highlands Bankruptcy Lawyers is Do I qualify for a Chapter 7 Bankruptcy. Most Highlands residents will qualify. A careful analysis of your gross income is the first step toward Chapter Seven Qualification. If your income falls below a certain level you are automatically qualified. Even if you earn more than the automatic qualification levels you still may qualify if you pas the Means Test. A Chapter Seven Bankruptcy can be a difficult choice. Our Highlands Bankruptcy Attorneys can help. If you are facing debt collection effort and receiving harassing telephone calls on a daily basis a Chapter 7 will end those calls. Bankruptcy is a difficult decision but it is made easy once you discuss its benefits with our Highlands Bankruptcy Attorneys.
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STEVEN P. LOMBARDI, ESQ.