| Chapter
13 Bankruptcy in New Jersey
A Chapter 13
bankruptcy is a reorganization or repayment bankruptcy that stops
foreclosure and sheriff's sales and prevents repossession and utilitly
shutoffs, but most of all gives you a fresh start.
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Link to the following information on
Chapter 13 Bankruptcy:
View in-depth
Chapter 13 FAQs here.
Introduction to Bankruptcy.
Bankruptcy, including New Jersey bankruptcy, is a federal court
process designed to help both consumers and businesses eliminate or
repay their debts under the protection of bankruptcy court. The federal
law in Title 11 of the United States Code governs New Jersey bankruptcy
as well as all other bankruptcies. Bankruptcies are generally described
as either liquidation or reorganization. Here we will discuss the
reorganization, repayment or Chapter 13 bankruptcy.
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What
is a Chapter 13 Bankruptcy? Chapter
13 is a reorganization or repayment bankruptcy that allows the
debtor to enter into an interest-free debt repayment plan to pay
back all or some of the debtor's debts over a 3 to 5 year period.
During this time, creditors must abide by the plan and are not
permitted to collect from you or contact you. One
crucial aspect of a Chapter 13 bankruptcy is that you must have
regular income for you will be required to pay both your monthly
living expenses and a repayment to the court for your consolidated
debts. A Chapter 13 bankruptcy
is very powerful because it provides a mechanism for debtors to
prevent foreclosures and sheriff sales and stop repossessions and
utililty shutoffs while catching up on their secured
debt.
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How
can Chapter 13 Bankruptcy help you?
- Stop Foreclosure and Sheriff
Sales
Is your home currently in foreclosure or have you received
notice of an impending sheriff's sale? Filing a Chapter 13
bankruptcy will stop the foreclosure or sheriff's sale any time
prior to the sale of teh house. The Chapter 13 filing will allow
you to pay your mortgage arrears through the bankruptcy directly
to your mortgage company.
- Stop Creditor Harassment
Are creditors calling you at home and at work? Are they
contacting your friends and family members? Put an end to your
creditor harassment by speaking with one of our New Jersey
bankruptcy lawyers. Once you retain our office, you will be able
to refer your creditors to us. The creditor harassment will stop
immediately. Under some circumstances, this creditor harassment
may be in violation of the Fair Debt Collection Practices Act (FDCPA)
and you may have cause for further action.
- Stop Repossession
Are you behind on your automobile payments? Are you in fear
that your car is near repossession? A chapter 13 bankruptcy can
help save your car and stop the finance company from moving
forward with repossession. Contact one of our New Jersey
bankruptcy lawyers today and they can help you consolidate your
past due payments as well as the balance on your car loan into
the Chapter 13 bankruptcy. You will make one payment to the trustee
and the finance company will not be able to move forward with
repossession. Under some circumstances, our New Jersey
bankruptcy lawyers may even be able to recover your car after
repossession and consolidate the balance of your car loan.
- Prevent Utility Shutoffs
Worrying about utility shutoffs? Filing a Chapter 13 bankruptcy
can stop creditors from shutting off your utility service.
Contact one of our New Jersey bankruptcy lawyers today to
prevent a disruptive utility shutoff before it's too late. We
have three offices in New Jersey to serve you better.
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Call on the experienced New Jersey
bankruptcy lawyers at Lee M. Perlman for your chapter 13 bankruptcy.
CALL NOW TO SPEAK TO AN
ATTORNEY - 856.429.2449
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