Goldman & Beslow LLC
East Orange: 973-677-9000
Paterson: 973-247-9445
Jersey City: 201-659-6226
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Essex County Secured Debt in Bankruptcy Attorney

There are two types of debt in bankruptcy: secured and unsecured. Understanding whether a debt is secured or unsecured is important because it determines what options you have in bankruptcy.

At Goldman & Beslow, LLC, we offer a free initial consultation to discuss your debts and explain your bankruptcy options. Our attorneys serve clients in Essex, Union, Hudson, Passaic, Bergen, Morris, Middlesex, Sussex and other New Jersey counties.

Bankruptcy and Secured Debts

Secured debts are debts that are secured by a lien on your property. Home mortgages and car loans are examples of secured debts. Some other types of debt may be secured without you realizing it, such as furniture and appliances that you buy on time. If you stop making payments on a secured debt, the lender can take the property that is secured by the lien. However, in some cases it may not be financially worthwhile for a lender to repossess items such as furniture or small electronics, and as such it rarely occurs.

Although personal liability is extinguished by filing a bankruptcy, the lien still remains. However, you can keep the property if you continue to make payments. Some secured debts, such as auto loans, may be renegotiated or modified in Chapter 13. In some cases, second and third mortgages can be eliminated, making them unsecured debts.

Bankruptcy and Unsecured Debts

Unsecured debt is debt that is not secured by any type of property. When a debt is unsecured, there is nothing for the lender to take if you don't pay the debt. Examples of unsecured debts include credit card bills, hospital bills and payday loans.

Most unsecured debts can be completely discharged when you file Chapter 7 bankruptcy. When you file Chapter 13 bankruptcy, you typically only have to pay back a percentage of unsecured debts — often pennies on the dollar for what you owe.

Contact Our Passaic County Lawyers

Let us get you back on your feet so you can get on with your life. Call our experienced Essex County secured and unsecured debt in bankruptcy lawyers today for a free one-half hour consultation at 973-677-9000 or 888-827-5493. We have office in East Orange, Jersey City and Paterson.


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  • NACBA | National Association of Consumer Bankruptcy Attorneys
  • NACA | National Association of Consumer Advocates
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Goldman & Beslow LLC

Goldman & Beslow, LLC is a Federal Debt Relief Agency by an Act of Congress. We have proudly assisted consumers seeking relief under the U.S. Bankruptcy Code for over 38 years.

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7 Glenwood Avenue,
Suite 311B
East Orange, NJ 07017
East Orange Law Office

Phone: 973-414-8069
Phone: 973-419-7631
Phone: 973-419-5266
Phone: 201-205-2496
Toll Free: 888-827-5493
Fax: 973-675-5886
E-mail the firm

NEWARK OFFICE 168 Bloomfield Avenue
Newark, NJ 07104
Newark Law Office

Phone: 973-483-1333
Phone: 973-419-5266
Phone: 201-205-2496
Toll Free: 888-827-5493
E-mail the firm

PATERSON OFFICE 100 Hamilton Plaza,
Suite 405
Paterson, NJ 07510
Paterson Law Office

Phone: 973-247-9445
Phone: 973-419-5266
Phone: 201-205-2496
Toll Free: 888-827-5493
E-mail the firm

JERSEY CITY OFFICE 26 Journal Square,
Suite 603
Jersey City, NJ 07306
Jersey City Law Office

Phone: 201-659-6226
Phone: 973-419-5266
Phone: 201-205-2496
Toll Free: 888-827-5493
E-mail the firm

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