Are you or a loved one dealing with a mountain of debt and have questions? Check out these 5 common bankruptcy questions, then call us today!
1) Should I file for bankruptcy if I’ve fallen behind on my mortgage payments?
A lot of potential clients who call our office wonder about whether or not it’s too late to file for bankruptcy once they’ve already fallen behind on their mortgage payments. The answer to that question is it’s probably the perfect time for you to file for bankruptcy. Filing for bankruptcy can protect your home from being foreclosed on or from going up for a share of sale. If you have any more questions about this, please contact our office.
2) Should me and my spouse file for bankruptcy together?
Another question that we find comes through our office a lot is from married couples or married individuals who wonder if they file for bankruptcy, does their spouse also have to file for bankruptcy? The answer is, no, you can file individually. Sometimes, however, it is beneficial for both partners to file together. Should you choose to file jointly, here in our office, we do not charge extra for the spouse filing jointly, but it is not a requirement. You must consider or you must understand, however, that the income for both spouses will play into the bankruptcy, whether both or one file.
3) What can I do to rebuild my credit after bankruptcy?
A concern that’s expressed by our South Jersey clients as they go through the bankruptcy process is, “Where do I go from here? How do I rebuild my credit? Is there credit after bankruptcy?” The answer is yes. Though your credit score will take a hit initially, within six to nine months it will improve and you’ll begin to see offers for credit cards come through the mail. We recommend taking those credit card offers, utilizing that credit and paying it off every month. Until that point, you have to make sure you’re current with your mortgage payments or your rental payments, as well as all your utilities. Making all these regular monthly payments helps you to reestablish your credit and helps your credit score to go up. If you have any questions regarding this, please feel free to contact our office.
4) What credit counseling courses are required when filing for bankruptcy?
In New Jersey, one of the requirements for filing for bankruptcy is that you have to take a credit counseling course. This course can be done online and takes about 45 minutes to an hour to complete. It is fairly inexpensive and fairly easy to take. If you have any questions about credit counseling courses or anything else related to your bankruptcy, or are wondering what you might need to do to prepare and what your obligations are, please contact our office.
5) What should I consider when choosing a bankruptcy attorney?
When looking for a bankruptcy attorney in New Jersey, of course, you want somebody who is part of the New Jersey Bar, but you also want an attorney who’s practice concentrates on bankruptcy. You also need an attorney who is experienced in foreclosures and mortgage remodifications, which we here at All Jersey Bankruptcy are. If you have any more questions concerning that, call our office and we’ll be happy to answer you about our credentials.
Are you or a loved one dealing with a mountain of debt and have questions? After checking out these 5 common bankruptcy questions, 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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