New Jersey Bankruptcy Lawyer

Common Bankruptcy Questions

Should I file for bankruptcy? This is a very serious question that can only be answered after you have researched and reviewed all of your options. Filing for bankruptcy is a legal process that will affect you for years to come, which is why it is advised that you consult with a New Jersey bankruptcy attorney before making any decisions. You may find that there are other ways in which you can repay creditors without filing for bankruptcy, or you may discover that bankruptcy is in fact the right option for you. This is something that can only be answered after you are informed, have the facts and understand the advantages and disadvantages.

Which type of bankruptcy is best for me?
In order to decide which type of bankruptcy is best for your personal situation, you should take the time to meet with a skilled New Jersey bankruptcy lawyer at Liberty Credit Law, PC. We will discuss your situation during an initial consultation and review your income, debts and assets. We will then inform you about the differences between Chapter 7 and Chapter 13 bankruptcy. Toward the end of the consultation, we will advise you on which type of bankruptcy we feel is most applicable to your situation.

What happens after I file for bankruptcy?
After you file your bankruptcy paperwork, a bankruptcy court will issue an order that will stop collection efforts. This means your creditors will be asked to stop calling you regarding your debts. Within 4 to 6 weeks of filing, you will attend a bankruptcy hearing and your debts will either be discharged or you will agree to a formal repayment plan.

Will I be able to repair my credit?
Yes, if you are responsible and pay your bills on time, you will be able to repair your credit. Your bankruptcy will remain on your credit report for up to 10 years, but if you take appropriate actions, such as repaying all future debts on time, you can have good credit in a short time.

Do I need a bankruptcy lawyer?
Yes, it is advised that you obtain the services of a New Jersey bankruptcy lawyer when you are ready to file for bankruptcy. While some people choose to file their bankruptcies on their own, they often find that they waste time and money, as the bankrutpcy process is very complicated without the right knowledge and information. By working with a bankruptcy lawyer, you will be able to file for bankruptcy in minimal time, receive answers to your questions and be given the guidance you need to reestablish your credit in the future.

Contact a New Jersey Bankruptcy Attorney from Liberty Credit Law, PC today!