Hackensack Bankruptcy Attorneys
Hackensack Bankruptcy Attorneys
Trying to find an experienced and affordable Hackensack bankruptcy lawyer? Bankruptcy Legal will connect you with a top rated attorney today.
Bankruptcy Lawyers
Hackensack, NJ
Bankruptcy Lawyers
Hackensack, NJ
If you are deeply in debt and unable to pay, Bankruptcy Legal will connect you with a top rated Hackensack bankruptcy law firm that is prepared to help you. Our bankruptcy specialists can assist with a range of services including chapter 7, chapter 13, small business bankruptcy, credit card debt, wage garnishments, medical bills, keeping your vehicle, and IRS tax debt.
Chapter 13
Filing for Chapter 13 bankruptcy in Hackensack is an option for people who have a steady income and are looking to escape debt without being required to liquidate assets. Chapter 13 reorganizes loans into small monthly payments, which allows you the opportunity to regain control over your debts and rebuild credit.
Chapter 7
Unlike Chapter 13, Chapter 7 bankruptcy cases do involve filing a plan of repayment. Instead, the bankruptcy trustee gathers and sells your nonexempt assets to pay holders of claims according to Bankruptcy Code provisions.
Credit Card Debt
Facing debt from missed payments, a lawsuit from creditors, or debt on multiple credit cards? A bankruptcy filing might be the most appropriate solution. If you need assistance dealing with credit card debt and delinquent payments, a Hackensack bankruptcy lawyer may be able to provide valuable assistance. Hold onto your possessions while eliminating some or all of your high interest.
IRS Tax Debt
Filing for bankruptcy may be an option if you owe past-due federal taxes that you cannot pay. Learn about IRS payment plans or an offer in compromise. The Internal Revenue Service understands that filing for bankruptcy may be one method for dealing with personal financial difficulties resulting from a combination of reduced income, increased expenses or serious medical conditions.
SMB Bankruptcy
Filing for bankruptcy may be a good option if your small business in Hackensack has struggled with debt. There are various considerations to keep in mind, depending on the circumstances.
- Which of the following types of business do you run: sole proprietorship, general partnerships, corporation, or limited liability company?
- Are you personally liable for any of your business debts?
- Are you interested in closing your business or would you like to keep it running?
Medical Bills
Suffering from medical debt? For many, medical bills and the inability to pay them can be a huge burden. We can help. If medical expenses or a family member’s chronic condition cause your debt to spiral out of control, it may be time to file for bankruptcy. Hardworking people with inadequate coverage face this difficult situation, and a surprising number of middle-class Americans don’t have insurance at all. Connect with a bankruptcy specialist in Hackensack to learn about options for eliminating medical debt or getting more time to pay.
Keep Your Vehicle During Bankruptcy in Hackensack
Hackensack auto repossessions are not uncommon. You may be able to keep your vehicle even if you are behind on payments and facing auto repossessions. Contact a bankruptcy lawyer in Hackensack immediately to file an adversary proceeding with the bankruptcy court. It is important to seek legal advice before you contact your creditor or make arrangement to pay the debt since doing so may affect your eligibility for bankruptcy.
Wage Garnishments
Having your wages garnished means that not only can the creditor take money directly from your wages before you receive them, but your employer will be made aware of your debts. A wage garnishment is a legal order to an employer in Hackensack that requires the them to withhold part of an employee’s wages and pay these directly to another individual or entity. Wage garnishments are usually ordered as a result of unpaid debts, such as child support, personal loans, state or federal taxes and credit card debt.
1. Call Bankruptcy Legal
Bankruptcy Legal connects you with the best board-certified Hackensack bankruptcy specialists. You’ll be connected with a team that intimately understands what you’re going through and all of your options. While there are many budget-friendly options, make sure you’re comfortable with and get to know your lawyer before getting started. Take the first step towards debt relief today.
2. Bankruptcy Counseling
There are two mandatory credit counseling sessions that must be completed by a counselor approved by the U.S. Justice Department before you file bankruptcy paperwork with the courts. During the first round (pre-filing counseling) a counselor will discuss your budget and point out the pros and cons of bankruptcy. Counselors will also cover different alternatives so you have a clear understanding of all your options.
3. File For Bankruptcy With The Court
All Hackensack bankruptcy lawyers prepare and file your required paperwork with the court. Filing for bankruptcy requires filling out several legal forms. In this process, your lawyer will also collect any and all financial related information to complete the bankruptcy petition, Statement of Financial Affairs and Schedules. Once complete, your lawyers will review the required paperwork with you to ensure accuracy.
4. Repayment Or Liquidation
Depending on the type of bankruptcy you file (Chapter 7 or Chapter 13), the next step will either involve liquidating assets to repaying creditors some of your debts. In a Chapter 7 bankruptcy, if you have no assets of large value your case is referred to as a “No Asset Case.” For secured debts like a car or house you will need to continue making regular payments.
5. Complete Your Debtor Education
Before receiving a bankruptcy discharge, there are a couple of courses that are typically required. The bankruptcy code calls these requirements a “debtor education program.” In most cases, you may be required to take a course before you file your paperwork and go to a hearing with the bankruptcy court.
6. Debt Discharge
The final step in the bankruptcy process, debt discharge is the elimination of a debt as a result of bankruptcy. Once bankruptcy is complete, banks and creditors are no longer allowed to collect the debt. Unless specific IRS conditions are met, this may result in taxable income to the debtor. Be sure to speak with your Hackensack bankruptcy attorney to get a good understanding of your completed file.