After I file for bankruptcy, will I have the right to own property?

After I File for Bankruptcy in New Jersey,  Will I Have the Right to Own Property?

In addition to the property that is exempt under New Jersey law, you will be able to come into possession of property after the filing.  However, if you receive income or property in the form of a life insurance payment, inheritance, or settlement, you may have to turn it over to pay creditors if the receipt is within a certain time period.  An experienced bankruptcy attorney can discuss anticipated payments or other potential transfers of properties and help you determine the timing of a bankruptcy filing or whether bankruptcy is not the right decision for you.

SOUTH JERSEY  BANKRUPTCY ATTORNEY ANDREW CARROLL IS HERE to ANSWER YOUR DEBT RELIEF QUESTIONS

Although this blog and website provides some general NEW Jersey bankruptcy information, the process of filing for bankruptcy can be very complex. It is advisable to seek an experienced lawyer to discuss all of the legal nuances to assist you in preparing your bankruptcy filing. Working with an experienced bankruptcy lawyer is certain to accomplish your goals and help you achieve all the benefits that a bankruptcy filing was defined to provide.

To schedule an appointment to discuss your situation, please call us today at (609) 400-1302 to schedule your free debt relief and chapter 7 bankruptcy consultation.

ANDREW CARROLL
1228 Berlin Road
Voorhees, NJ 08043
Phone: (609) 400-1302
Fax: (856) 997-1031
Hours: Monday – Friday: 8AM to 6PM
(After hour and weekend calls accepted)

Bankruptcy Lawyer in New Jersey

Filing for Chapter 7 Bankruptcy in New Jersey

Filing for Chapter 7 Bankruptcy in New Jersey

When is a Chapter 7 the right choice for me?

Chapter 7 Bankruptcy filings, known as straight bankruptcy, may be the right option if you meet the income requirements.  This action basically wipes the slate clean, discharging most debts.

In exchange for this fresh start, you give up ownership of all property that is not exempt under New Jersey law.  This property is then sold to satisfy your creditors based on priority.

If you have a home or car that you want to retain but you are behind on payments, then this may not be the best solution for you since mortgage lenders or the holder of a car loan can take possession of your property in order to collect amounts due and owing.

Here is a list of New Jersey’s Bankruptcy Exemptions.

ANDREW CARROLL
1228 Berlin Road
Voorhees, NJ 08043
Phone: (609) 400-1302
Fax: (856) 997-1031
Hours: Monday – Friday: 8AM to 6PM
(After hour and weekend calls accepted)

Bankruptcy Attorney in New Jersey

Where to File Bankruptcy in New Jersey By County

U.S. Bankruptcy Court – District of New Jersey

WHERE TO FILE – BY COUNTY

As your bankruptcy lawyer, I will handle all of the aspects of your bankruptcy filing in New Jersey so that you can move on and get back to your normal daily activities. As my client, you can leave all of the time burdens and stress of the bankruptcy process to me.

As an experienced Bankruptcy Attorney in New Jersey, I try to ensure that new and potential clients have access to all of the information and tools they may be interested in obtaining. For example, below is a list of the counties in New Jersey where you file bankruptcy in the state of New Jersey.

Here is a list of the New Jersey counties and offices in which to file. As your attorney, it may be appropriate and easier to for you to file in a particular county in New Jersey that is closest to you. In some cases, I would be able to file your bankruptcy petition locally, however the bankruptcy hearing and court process would be held in the county in which you reside.

If you are filing a Chapter 7 Business Bankruptcy, the court hearing would take place in the county in which your main business office resides.

Below are a list of the New Jersey Counties and the offices in which the bankruptcy petitions are filed for that county. 

Camden Office: Atlantic County, Burlington County (Only the following areas: Cinnaminson, Delran, Edgewater Park, Evesham/Marlton, Maple Shade, Moorestown, Mt. Laurel, Palmyra, Riverside, Riverton), Camden County, Cape May County, Cumberland County, Gloucester County, and Salem County.

Newark Office: Bergen County, Essex County, Hudson County, Morris County, Passaic County, Sussex County, and Union County.

Trenton Office: Burlington County (The remainder of county – except the townships of Cinnaminson, Delran, Edgewater Park, Evesham (Marlton), Maple Shade, Moorestown, Mt. Laurel, Palmyra, Riverside, Riverton), Hunterdon County, Mercer County, Middlesex County, Monmouth County, Ocean County, Somerset County, and Warren County.


Shared Zip Codes:

07060

  • Plainfield/Union County = Newark

07062

  • Plainfield/Union County = Newark

07063

  • Plainfield/Union County = Newark

07069

  • Plainfield/Union County = Newark;
  • North Plainfield/Somerset County = Trenton;
  • North Plainfield/Somerset County = Trenton;
  • North Plainfield/Somerset County = Trenton;
  • Watchung/Somerset County = Trenton

07747

  • Matawan/Monmouth County = Trenton
  • Strathmore/Monmouth County = Trenton

07840

  • Hackettstown/Warren County = Trenton;
  • Mansfield/Warren County = Trenton;
  • Mt Olive/Morris County = Newark

08010

  • Aberdeen/Monmouth = Trenton;
  • Allamuchy Twp/Warren County = Trenton;
  • Washington Township/Morris County = Newark;
  • Beverly/Burlington County = Trenton;
  • Edgewater Park/Burlington County Exclusion = Camden

08037

  • Hammonton/Atlantic County = Camden;
  • Blue Anchor/Atlantic County = Camden;
  • Elm/Camden County = Camden;
  • Nesco/Atlantic County = Camden;
  • Sweetwater/Atlantic County = Camden
  • Batsto/Burlington County = Trenton

08075

  • Ancora/Camden County = Camden;
  • Braddock/Camden County = Camden;
  • Folsom/ Atlantic County = Camden;
  • Rosedale/Atlantic County = Camden;
  • Riverside/Burlington County Exception = Camden;
  • Delran Burlington County Exception = Camden;
  • Delanco/Burlington County = Trenton

08215

  • Egg Harbor City/Atlantic County = Camden;
  • Egg Harbor/Atlantic County = Camden;
  • South Egg Harbor/Atlantic County = Camden;
  • Green Bank/Burlington County = Trenton;
  • Bridgeboro/Burlington County = Trenton;
  • Devonshire/Atlantic County = Camden;
  • Germania/Atlantic County = Camden;
  • Weekstown/Atlantic County = Camden;
  • Lower Bank/Burlington County = Trenton

Clerk’s Offices: 

Newark Clerk’s Office
Martin Luther King Jr. Federal Building
50 Walnut Street
Newark, NJ 07102
Phone (973) 645-4764

Camden Clerk’s Office
U.S. Post Office and Courthouse
401 Market Street
Camden, NJ 08101
Phone (856) 361-2300

Trenton Clerk’s Office
Clarkson S. Fisher US Courthouse
402 East State Street
Trenton, NJ 08608
Phone (609) 858-9333

My name is Andrew Carroll and if you have any questions about your debt problems, simply call me at (609) 400-1302 and I would be glad to discuss your debt relief options with you. We will review non-bankruptcy and bankruptcy options. I am here to help you stop the debt collection harassment letters and phone calls. I will help you to understand the differences between a Chapter 7 bankruptcy filing and Chapter 13 bankruptcy filing.

ANDREW CARROLL
1228 Berlin Road
Voorhees, NJ 08043
Phone: (609) 400-1302
Fax: (856) 997-1031
Hours: Monday – Friday: 8AM to 6PM
(After hour and weekend calls accepted)

Bankruptcy Attorney in New Jersey

Does My Spouse Have to File for Bankruptcy if I File for Bankruptcy in New Jersey?

Does My Spouse Have to File for Bankruptcy if I File for Bankruptcy in New Jersey?

You may file for bankruptcy without your spouse.  However, you should remember that your spouse’s salary and wages will be included in determining your income and your spouse will remain liable for any debts that are owed by the two of you.

As a New Jersey bankruptcy lawyer, I answer your debt relief questions over the phone or in person at my office. We will review all of your debt relief options – both non-bankruptcy and bankruptcy. I will help you to understand the differences between a Chapter 7 bankruptcy filing and Chapter 13 bankruptcy filing to help you determine which of these is right for you. If filing for bankruptcy is the right choice overall in your situation, we can discuss the next steps in the process. Please contact me at (609) 400-1302 for your free New Jersey debt relief and bankruptcy consultation.

How Often Can I File a bankruptcy action in New Jersey?

How Often Can I File a Bankruptcy Action in New Jersey?

You can file a Chapter 7 Bankrupty eight years after the filing of a previous Chapter 7 filing date and six years after the filing of a previous Chapter 13 action.  A Chapter 13 bankruptcy cannot be filed within two years of a previous Chapter 13 filing.  You might be able to benefit from filing a Chapter 13 action immediately after getting a discharge from a Chapter 7 action (known colloquially as a Chapter 20 action) even though you will not be able to get a discharge from the subsequent Chapter 13 filing.

As an experienced bankruptcy attorney, Andrew Carroll can explain how these different options work together.  If you did not receive a discharge of debt in the earlier case, then you should be able to file another bankruptcy without restrictions, in most cases.

What Benefits Could I Receive From Filing Bankruptcy in New Jersey?

What Are the Benefits of Filing for Bankruptcy in New Jersey?

The first thing that filing a bankruptcy action does is impose an automatic stay, which means that all creditors must stop all collection efforts, including a mortgage lender who may be trying to foreclose on your home.  In addition, bankruptcy can:

  • Discharge most, if not all, of your debts so that you no longer are legally obligated to pay them;
  • Force the return of repossessed property under certain circumstances;
  • Prevent the loss of utilities or provide the mechanism to get utility services restored;
  • Create an environment in which debt reorganization can be negotiated;
  • Provide a forum to challenge fraudulent debt; and
  • Present you with “breathing room” so that you can approach your situation with the goal of resolution rather than avoidance.

An experienced New Jersey bankruptcy lawyer, I will sit down with you and explain the differences between a Chapter 7 and Chapter 13 and help you determine which of these is right for you, if bankruptcy is the right choice overall. In order to schedule a time, please contact me at (609) 400-1302 to schedule your free New Jersey debt relief and bankruptcy consultation.

What is a Bankruptcy Action in New Jersey?

What is a Bankruptcy Action?

Bankruptcy is a legal action where a person who has incurred debts in an amount that he cannot pay, whether that is from the total accrual of debts during the course of every day events or the happening of an unexpected occurrence, can reorganize the debt or have it discharged without any further liability. Frequently, people who have experienced a major life event, such as a job loss, medical emergency, or divorce need to file for bankruptcy in order to get a fresh start.

An experienced New Jersey bankruptcy attorney, such as Andrew M. Carroll, can explain what all of this means for you and your unique circumstances.  I will sit down with you and explain the differences between a Chapter 7 and Chapter 13 and help you determine which of these is right for you, if bankruptcy is the right choice overall. In order to schedule a time, please contact me at (609) 400-1302 to schedule your free New Jersey debt relief and bankruptcy consultation.

The Top Four New Jersey Chapter 7 Bankruptcy Myths Dispelled

The term bankruptcy tends to evoke much opinion and emotion. Many Americans hold a bleak image of bankruptcy and those who declare it. For most, their belief in bankruptcy is clouded by numerous misconceptions concerning both the process and those who utilize it. We have all likely heard some of the following “facts” about bankruptcy, such as: bankruptcy will ruin your credit forever; you will lose everything if you declare bankruptcy; only disreputable people declare bankruptcy; and bankruptcy is too difficult to pursue. The reality is, however, for millions of Americans struggling to stay afloat in the midst of oppressive debt, bankruptcy provides a fresh start without the negative repercussions many accept as reality without researching.

The Following is a List of the Top Myths Concerning Filing For Chapter 7 Bankruptcy

It is our hope that in debunking these misconceptions, you can form an accurate picture of the bankruptcy process and make an informed decision as to whether bankruptcy might be right for you:

Myth #1: Bankruptcy will destroy your credit for life—this myth seems so ingrained in the American psyche that it is rarely even questioned. However, it is grossly inaccurate. Bankruptcy will significantly impact your credit, causing a drop in your credit score of 200 points or more. For 10 years following the date on which you declare bankruptcy, it will be visible on your credit report. However, you can begin to rebuild your credit immediately after filing for bankruptcy, and achieve good credit in as few as two years. For many debtors, bankruptcy will actually be the quickest way to achieve good credit. When you are behind on bills, this information is continuously provided to the credit agencies, damaging your score constantly. When you file for bankruptcy, all negative reporting stops and you obtain the chance to build positive credit.

Myth #2: Filing for bankruptcy is too difficult to pursue—while bankruptcy will involve much paperwork and planning, a knowledgeable bankruptcy attorney will make the process smooth and simple. An attorney with experience in the field will be able to answer all of your questions and navigate you seamlessly though the process to completion.

Myth #3: You will lose everything if you declare Chapter 7 bankruptcy—there seems to be a common belief that by declaring bankruptcy under Chapter 7, you will lose your home, car, jewelry, personal effects, and most other property. The reality is that many of these possessions are in fact considered exempt, and therefore not subject to seizure. Exemptions vary by state, but some of the most common include: motor vehicles, up to a certain value; your homestead; earnings of the head of household; life insurance; reasonably necessary clothing, household furnishings, or goods; appliances; personal effects; pension; tools of your trade or profession; and public benefits. With proper planning, your bankruptcy attorney can help to protect those assets you value most.

Myth #4: Only disreputable or unsuccessful people declare bankruptcy—some of our world’s greatest thinkers, inventors, sports players, talk show hosts, and leaders have declared bankruptcy and went on to astonishing success. Take a look at the following list of individuals: Abraham Lincoln, Mark Twain, Walt Disney, Burt Reynolds, Henry Ford, Mickey Rooney, Larry King, and Willie Nelson. These individuals all share three traits: 1) they achieved great financial success, 2) they achieved fame, and 3) they declared bankruptcy. Millions of hardworking Americans turn to bankruptcy each year. Most of these individuals are not in debt because they refuse to work, spend frivolously, or make poor financial decisions. Rather, they are victims of a poor economy and lagging job market.

Free New Jersey Bankruptcy Chapter 7 Consultation – A Fresh Start

New Jersey Chapter 7 Bankruptcy Attorney Andrew M. Carroll is committed to ensuring each of our clients receives unparalleled legal representation. Attorney Carroll will fully explore your bankruptcy options and select the best means of helping you achieve a bright financial future. Call us today at (609) 400-1302 to schedule your free debt relief and chapter 7 bankruptcy consultation.