What You Need to Know Before You File for Bankruptcy.
Do you have problems paying your debts? Are you threatened with garnishment, foreclosure or repossession? If so, you may want to consider bankruptcy as a way to deal with these problems.
You have the right under federal law to file for bankruptcy relief from your creditors. Bankruptcy is a legal proceeding in which a person can get a fresh financial start. Bankruptcy can be very useful and effective in resolving financial problems in certain cases.
The only way to be sure bankruptcy is right for you is to discuss your situation with a lawyer familiar with bankruptcy. At The Bankruptcy Law Office of Marc P. Feldman located in Morris County, New Jersey, I can help you determine if bankruptcy is right for you.
Some things bankruptcy can do:
- Eliminate the legal obligation to pay most or all of your debts. This is called a “discharge” of debts.
- Stop foreclosure of your home and allow you to catch up on missed payments.
- Stop repossession of a car or other property, or, in some situations, force the creditor to return property even after it has been repossessed.
- Stop wage garnishments.
- Stop debt collection harassment.
Some things bankruptcy can’t do
- Eliminate certain rights of secured creditors. Some examples of secured debts are car loans and home mortgages. You can force secured creditors to take payments over time, but generally, you cannot keep the collateral unless you continue to pay the debt.
- Discharge debts that arise after the bankruptcy has been filed.
- Discharge certain types of debts, such as child support, alimony (spousal maintenance), certain other debts related to divorce, most student loans, court restitution orders, criminal fines, and most taxes.
- Eliminate the obligation of a co-signer on your loan in most cases.
The Bankruptcy Law Office of Marc P. Feldman can guide you through the bankruptcy process. I am ready to put more than 23 years of experience to work for you. E-mail me or call 973-267-7555 for an honest assessment of your case from an experienced lawyer in Morris County and Northern New Jersey.
Free Consultation to Answer All of Your Bankruptcy Questions
For More Information Regarding Bankruptcy Law, please review this website further, link to my Website Devoted to Bankruptcy Law or better yet, call 973-267-7555 for your Free Consultation.
We are a Debt Relief Agency helping people file for bankruptcy relief under the Bankruptcy Code. Let us help you decide if bankruptcy is right for you.