Chapter 7 Bankruptcy Attorney Helps Consumers Discharge Their Debt
Denville bankruptcy lawyer counsels individuals seeking relief
Sometimes situations beyond your control can profoundly impact your earning potential and lead to overwhelming debt. If you find yourself unable to pay your bills, you may want to consider filing for bankruptcy. Designed to give debtors a fresh start, Chapter 7 bankruptcy gives you and your spouse relief from debts through liquidation of your assets. With extensive experience in this area, I can help you file for Chapter 7 quickly and efficiently. Once you have filed for bankruptcy, creditors must immediately stop collections efforts, including harassing letters and phone calls.
Means test for qualifying debtors
To qualify for Chapter 7 bankruptcy relief, you must satisfy the court’s means test, which calculates your income and expenses compared to the median income in New Jersey. If you are not eligible for Chapter 7 bankruptcy, Chapter 13 may be available. Law Office of Ernest G. Ianetti can help you determine whether you are eligible for Chapter 7 bankruptcy and if it is your best solution for dealing with your debts.
Liquidation of assets and quick discharge of some, but not all, debts
Liquidation means selling assets to satisfy as much of your debt as possible before the court orders a discharge for the rest of your qualifying debt. However, the law includes many exemptions that allow you to preserve assets, such as your car, clothing, and tools of your trade. I can help you determine which of your assets are eligible for exemption so you get the maximum protection under the law. Upon conclusion of the bankruptcy proceedings, the court grants a discharge of your remaining debt, with some notable exceptions. These include back child support and alimony payments, student loans, recent back taxes, and court judgments based on personal injury claims. I advise you about how much of your debt is dischargeable, so you can make an informed decision about whether to pursue Chapter 7 bankruptcy.
Preparing for your appointment with a bankruptcy attorney
So that I can immediately begin analyzing your case, it is necessary that you bring certain information to your appointment with Law Office of Ernest G. Ianetti, including:
- A list of your creditors’ names, amount of each claim and nature of the debt
- Your employer’s name and your gross and net income
- Other sources of income and amounts
- A list of what you own and estimates of the value of each item
- A list of your monthly bills and details of each expense
This information can help Law Office of Ernest G. Ianetti provide an accurate assessment of whether Chapter 7 bankruptcy is appropriate for you.
Contact an experienced bankruptcy attorney in New Jersey
Don’t continue to live under a cloud of unmanageable debt. Chapter 7 bankruptcy can quickly discharge your qualifying debt and give you a fresh start. Call 973-324-1003 or contact Law Office of Ernest G. Ianetti online to schedule your bankruptcy consultation at my Denville, New Jersey office.