Chapter 7 Bankruptcy
Sometimes life events such as divorce, health issues, loss of work or a pandemic can have a detrimental impact on your financial budget. When your debt has reached a point where you can no longer afford to pay it off, Chapter 7 bankruptcy may offer the relief you need. Chapter 7, however, does not work for everyone because not everyone qualifies and some types of debt are not dischargeable. Clients with the advice of counsel need to weigh the pros and cons of filing for Chapter 7 bankruptcy. As a client, you can expect us to carefully review your bankruptcy petition, answer your questions and work diligently to bring you the success you need.
What is Chapter 7 Bankruptcy?
When you file for Chapter 7 bankruptcy, all your unsecured assets can be liquidated in order to pay off debt. In New Jersey, you may be required to satisfy some prerequisites, such as receipt of credit counseling from a court-approved agency within six months before filing. Some, if not all of this must be filed before you can start any proceedings for bankruptcy. A bankruptcy attorney can guide you through the chapter 7 process.
How a Bankruptcy Attorney can help:
A bankruptcy attorney can be of help to their clients because they focus on strategizing best outcomes when filing for bankruptcy protection. Those who qualify can use the provisions of Chapter 7 bankruptcy to immediately start rebuilding a solid financial future.
If you would like to discuss your situation with an experienced and earnest bankruptcy attorney, contact Vas Law Firm for free initial consultation.