Many of our South Jersey clients who are exploring bankruptcy want to know more about the details involved. Here are 4 questions about bankruptcy that we hear quite often when dealing with these types of claims.
1. What are the reasons someone should file for bankruptcy?
If you’re reading this, you’re probably exploring the option of bankruptcy and wondering if this is the right option for you. Some of the reasons people consider filing for bankruptcy are because they have judgments filed against them, which means that your wages could be garnished or your bank account levied (they’ve taken money out of your account.) In many cases, those funds can be recovered and we can stop the wage garnishment. Also, if you’re falling behind in your mortgage, if you’re interested in protecting your home or protecting your car, if you’re just having problems making your monthly bills at the end of the month, you may want to consider bankruptcy, as you can discharge or settle your accounts for pennies on the dollar, depending on which chapter you decided to file for. If you have any questions regarding this, contact our office.
2. What should I do to prepare for bankruptcy?
A lot of people who call our office want to know what they have to do to prepare before they meet with us for their bankruptcy. You’ll need to have the last two months of your pay stubs, your last two months’ bank statements, and also make sure that you are current with the past few years tax filing obligations. Once you have those basic documents in hand, we can sit down with you and discuss what your options are for bankruptcy and help guide you as to whether a Chapter 7 or a Chapter 13 would be most beneficial for you. If you have any more questions about this, please contact our office.
3. Can anyone file for bankruptcy?
When a lot of our clients walk through our doors in our South Jersey office, they want to know, “What are the chances that I’m going to not be accepted for bankruptcy?” For a lot of people, this is a last-ditch effort. They don’t know where else to go or where else to turn. The answer is almost everyone will qualify for more than one form of bankruptcy or another. That’s why it’s important to have an attorney who’s knowledgeable in bankruptcy and experienced with bankruptcy to guide you. The important part of being approved for bankruptcy is making sure you choose the right type of bankruptcy. If you have any questions about whether bankruptcy is right for you or whether you should be considering a Chapter 7 or a Chapter 13, please call our office.
4. Can anyone file for bankruptcy?
Anybody can file for bankruptcy. However, the question is, which bankruptcy is right for you, Chapter 7 bankruptcy or Chapter 13? Chapter 7 would be a complete discharge of your unsecured debts, and a Chapter 13 would be a repayment plan when you want to maintain secure debts, such as a home or a car. If you have any questions about whether bankruptcy is right for you or which bankruptcy is right for you, please contact our office.
Contact Our South Jersey Bankruptcy Lawyer
Are you or a loved one constantly being called by creditors and need answers to more than our 4 questions about bankruptcy? Contact experienced South Jersey bankruptcy lawyer, Andrew Carroll, of All Jersey Bankruptcy today for a free consultation and case evaluation.
We are dedicated to giving you the answers that you need in order to make an informed decision about whether bankruptcy is the best decision option for you.
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