Burlington, NJ Chapter 7 Bankruptcy Attorney

What Is Chapter 7 Bankruptcy?

NJ Chapter 7 Bankruptcy is probably one of the most common types of bankruptcy for consumers. It is also known as liquidation bankruptcy and it dissolves your unsecured debt while simultaneously retaining assets such as real estate, cars, bank accounts, and retirement funds. Not only does Chapter 7 liquidate your accumulated debts but it also eliminates the need to pay back those debts through a chosen repayment plan. Furthermore, in order to qualify for Chapter 7 bankruptcy you, as the individual, are required to meet certain criteria to receive Chapter 7 relief, in particular income requirements. All in all, filing for Chapter 7 bankruptcy becomes a fresh start and allows you, as the consumer, to turn over a new leaf.

How Can I Help You?

As a trusted bankruptcy professional and with 30 years of industry experience, I am available to help you through the process of filing for bankruptcy. In particular, Chapter 7 bankruptcy filing is on average the simplest and quickest form of bankruptcy, however, not everyone is eligible. In many cases, in order to file and qualify for Chapter 7 bankruptcy, the consumer must complete in full the “Means Test” form as dictated by the 2005 amendments to the bankruptcy code. This process can be lengthy and time consuming and as an industry professional, it is my job to make sure the process is as painless and smooth from the beginning. Lastly, I am available to help you understand the complexities of this test and determine if Chapter 7 is the right solution for you.

What Debt Does NJ Chapter 7 Bankruptcy Eliminate?

Filing for Chapter 7 bankruptcy has the ability to eliminate any and all unsecured accumulated debts such as medical bills, credit card debt, personal loans, payday loans, judgments, and occasionally some income taxes. 

Filing for Chapter 7 Will Put A Stop To:

  • Creditor harassment
  • Home foreclosure
  • Threat of repossessions
  • Judgments
  • Wage garnishment
  • Sheriff’s sales
  • Lawsuits
  • High interest rates
  • IRS demands
  • Motor vehicle surcharges

If you think filing for Chapter 7 bankruptcy suits your situations or you’re looking for general guidance, do not hesitate to contact Tom Orr at 609-386-8700 today for a free consultation. There is life after bankruptcy and it starts here!