Our Bankruptcy Clients Can Start Fresh Today. Call Now to see if you qualify!

Stop worrying and sleep well tonight! Find out how!

Call the Law Firm of Ernest G. Ianetti, Esq. to regain your financial security and stability, now. If you're struggling to pay bills or being harassed by collectors, bankruptcy can provide immediate relief.

During your initial consultation, you'll learn:

  • If bankruptcy is right for you

  • How bankruptcy works

  • What the credit counseling requirement is and how to get your counseling certificate

  • How bankruptcy affects your credit, debt obligations, and property

  • And, if you qualify, get instant relief.

Different Types of Bankruptcy

Bankruptcy Chapters 7, 13 and 11 are legal processes designed to help people who can’t pay their bills get a fresh start.

Under the protection of the federal bankruptcy court, individuals and businesses can stop creditors in their tracks, discharge most debts or establish workable repayment plans.

Generally, there are two types of bankruptcy: those involving liquidation and those involving reorganization. Bankruptcy begins when the debtor files a petition with the bankruptcy court. Such a petition can be filed by one person, spouses, or a business entity.

Are you ready for a consultation. Call 973.324.1003 or submit your case.

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Chapter 7 Give Give You a Fresh Start!

Chapter 7 Give Give You a Fresh Start!

Chapter 7:
Discharge Your Most Debt & Start Fresh

Chapter 7 Bankruptcy is typically filed by individuals who cannot repay their debts. Chapter 7 Bankruptcy allows a debtor to make a fresh start. The debtor may retain exempt assets including a up to $25,150 of equity in a home for individuals and $50,300 for couples filing jointly. Retirement savings, cars and cash may also be exempt.

Frequently, Chapter 7 is filed by those about to be sued by creditors, or just overwhelmed by their debt. Businesses that are ready to close up shop and liquidate their assets may also file Chapter 7 bankruptcy. It should be remembered that some debts cannot be discharged, even under Chapter 7 bankruptcy. These include some taxes and child support.

Work Out Your Debt with a Plan!

Work Out Your Debt with a Plan!

Chapter 13:
Workout Your Debt with a Plan

Chapter 13 bankruptcy was established to accommodate individuals who want to pay their debts but are presently unable to do so, in spite of the fact that they have a regular source of income. By filing Chapter 13 with the help of a skilled bankruptcy attorney, they present a viable plan to the court that must be approved before it can be implemented. The plan demonstrates how they propose to pay their creditors over a reasonable period of time — between 3 to 5 years. If their plan is approved, the debtor will make payments to the creditors through a trustee. During the period of time the approved plan is in effect, the debtor is protected from lawsuits, wage garnishments, and other harassments by creditors. Once the plan is completed, any remaining debts are discharged.

Work With Your Creditors to Save Your Business

Work With Your Creditors to Save Your Business

Chapter 11
Business & High Net Worth Individuals

Chapter 11 bankruptcy is a way for commercial enterprises to reorganize their debt while they continue to do business or liquidate the business and close it. In Chapter 11, businesses can repay creditors under a court-approved plan of reorganization.

The Chapter 11 Plan requires court approval, and the debtor is obligated to provide all creditors with a disclosure statement to help them understand the businesses financial circumstances and evaluate the plan.

Businesses that file for Chapter 11 may return to financial stability by repaying a portion of some debts and discharging others, discharging contracts and leases that have become a burden, or downsizing. In many cases, Chapter 11 bankruptcy enables business debtors to have reduced debt and profitable, reorganized business.

If you are a high net worth individual struggling with debt, Chapter 11 bankruptcy for high net worth individuals can be an option. With the help of an experienced bankruptcy lawyer, you can make arrangements with your creditors and get your finances on track.

Difference Between Chapter 11 for Businesses and Individuals

The process for filing Chapter 11 bankruptcy for high net worth individuals is similar to business filings, but there are some differences. Call Ernest G. Ianetti today to discuss your situation.

Ready for a Consultation?

Call 973.324.1003 or Submit Your Case