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Filing For Bankruptcy Can Get You Back On Track
Bankruptcy Legal provides individuals with legal counsel that inspires a true sense of hope. If you’re looking for experienced, supportive and personalized legal counsel we’re here to help. Get connected with a bankruptcy attorney in Vernon, NJ who understands the emotional and financial challenges involved in filing for bankruptcy. At Bankruptcy Legal, you can get the answers you need to move forward and the peace of mind that comes with knowing your rights are protected. It’s time to take action, today.
If you are deeply in debt and unable to pay, Bankruptcy Legal will connect you with a top rated Vernon 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.
Filing for bankruptcy is often the best solution for those who are overwhelmed with debt and have exhausted all other options to pay off their bills. Bankruptcy can provide relief by wiping debts clean and helping indebted individuals regain control of their finances. The following is a list of bankruptcy services law firms in Vernon are experienced and ready to assist you in.
Filing for Chapter 13 bankruptcy in Vernon 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.
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.
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 Vernon bankruptcy lawyer may be able to provide valuable assistance. Hold onto your possessions while eliminating some or all of your high interest.
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.
Filing for bankruptcy may be a good option if your small business in Vernon has struggled with debt. There are various considerations to keep in mind, depending on the circumstances.
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 Vernon to learn about options for eliminating medical debt or getting more time to pay.
Vernon 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 Vernon 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.
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 Vernon 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.
We are bankruptcy specialists providing profound legal knowledge and expertise for our clients in Vernon.
Our company has been helping individuals in Vernon achieve their legal objectives for more than 30 years.
We emphasize quality service, attention to detail and care leading to just resolutions of our clients’ bankruptcy matters.
Here are a few examples of businesses that have benefited from our bankruptcy legal services:
Bankruptcy is a legal process that frees you from the obligation of repaying your debts and dealing with creditors.
We understand the challenges individuals face when burdened with debt. You have options and we’ll show you the way.
Our core focus is on establishing your best interests when dealing with debt relief. Every situation is unique. We’ll help educate you with regards to your options and find the best solution for you
Once you have made the difficult decision to file for bankruptcy, there are things you will need to do in order to proceed in a positive way. A basic overview of the bankruptcy process, from filing for bankruptcy to rebuilding your credit and moving forward after bankruptcy are discussed below.
Bankruptcy Legal connects you with the best board-certified Vernon 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.
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.
All Vernon 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.
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.
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.
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 Vernon bankruptcy attorney to get a good understanding of your completed file.
Our bankruptcy specialists provide legal services in the following Vernon, NJ zip codes: 07418 / 07419 / 07421 / 07422 / 07428 / 07460 / 07461 / 07462
Frequently asked questions about bankruptcy law.
Most Vernon bankruptcy lawyers charge a “flat rate”. Chapter 7 bankruptcy attorneys typically charge somewhere between $1,000 to $3,500 depending on the details of the case. Some attorneys will choose to bill by the hour.
Chapter 7 bankruptcy discharges qualifying debts after a few months, but you may have to liquidate nonexempt assets. You can file for bankruptcy protection where the “automatic stay” order will stop creditors from pursuing your debt.
Lying about your assets, not consulting a lawyer, giving “gifts” or assets to family members, adding further credit card debt and raiding the 401(k) are all common practices that can cause further trouble when filing for bankruptcy in Vernon.
The court notifies your creditors after about a week from filing. The notice tells the creditors that you filed for bankruptcy. It also shows them how to get more information about your case and what they need to do.
The main downside of filing for bankruptcy is that it can damage your credit history and make it more difficult to get financing in the future. You can also lose assets including your primary residence or other real estate holdings in Vernon. To learn about all of the pros and cons regarding your specific situation please call us and get connected with an experienced bankruptcy attorney in Vernon.
Individuals filing bankruptcy can file without an attorney (pro se), but it is strongly recommended to consult with an attorney for a better understanding of the long-term consequences.