Your debt has been accumulating for months, even years. Or maybe a recent event caused your debt to increase quickly. Either way, your mortgage, car loans, credit card debt, all of these expenses have become too much to keep up with. When you’ve exhausted all of your financial options and have faced the reality of
The Law Offices of Thomas J. Orr
There is Life After Bankruptcy
WHAT IS BANKRUPTCY?
If you’ve faced financial hardship and felt as if you were being smothered by mountains of debt, then bankruptcy may be an option for you. Bankruptcy gives individuals a second chance and a clear path for future success. It can help you move forward without being held back by the pressure of pre-existing debt.
Generally, any one person, a couple or business can file bankruptcy. An attorney can help you with your first steps, and provide representation in court during the bankruptcy process.
Bankruptcies remain on credit reports for 10 years. An attorney can discuss circumstances that might be affected by your bankruptcy. For the most part, people who file bankruptcy are back on their feet and in better financial standing than without it.
Bankruptcy will never prohibit you from filing for future credit. Typically, our clients can expect to obtain credit 1-2 years after discharge.
Individuals who want to file for bankruptcy should gather a list of past and present debts, as well as any assets or liabilities they currently have. Taxes, debts, fines or penalties, loans, etc. should also be included in this list.
In difficult times such as these, it is easy for individuals and families to acquire significant amounts of debt. This is especially true in the age of the credit card. With a swipe of a card the majority of consumers across the country have access to thousands of dollars right at their fingertips. Before you
How To Protect Your Personal Property During Bankruptcy Making the final decision to file for bankruptcy can be daunting, especially when you take into consideration all of the assets and personal property you’ve worked hard for. At Tom Orr Law we are here to make those decisions less difficult and answer all the “what if”
There are a variety of NJ bankruptcy exemptions available to those filing for bankruptcy in the state. These exemptions are an essential aspect of the bankruptcy process because they protect your property from creditors. This blog will educate you on the various New Jersey bankruptcy exemptions. You have two choices when filing for bankruptcy in