${site.data.firmName}${SEMFirmNameAlt}
East Orange: 973-677-9000
Paterson: 973-247-9445
Jersey City: 201-659-6226
Toll Free: 888-827-5493
FREE Initial
Consultation Se Habla Espanol
Go to Practice Area Categories

Chapter 7 Archives

How Chapter 7 can help New Jersey residents with car loan debt

What happens when a New Jersey resident falls behind on car payments? Whether someone's car is voluntarily surrendered or is repossessed by the lender, there is still a chance that he or she will continue to be responsible for any excess on the outstanding loan. Situations like this are when filing for Chapter 7 bankruptcy may offer some relief. In fact, declaring personal bankruptcy may even help struggling individuals retain possession of their car in the first place.

Overwhelmed by New Jersey debt? Some benefits of Chapter 7

In New Jersey, trying to figure out whether personal bankruptcy is the right choice can obviously be a stressful decision. When an individual is feeling overwhelmed by mounting debts, however, filing for Chapter 7 can offer much-needed relief. Both in terms of lessening immediate stress and financial hassles in the short-term, and taking the first steps toward a more stable credit future in the long-term, Chapter 7 can offer a number of benefits.

The advantages of Chapter 7 bankruptcy in New Jersey

Many consumers in New Jersey and across the country struggle with overwhelming debt. Whatever the cause of the debt, these financial issues are relatively common. However, there are also solutions, including the opportunity to file for Chapter 7 bankruptcy in order to achieve a fresh start. 

How Chapter 7 can work for some in New Jersey

Whether it's due to unpaid medical costs, compounding credit card bills or some other type of debt, many New Jersey residents may be feeling overwhelmed and hopeless. There are different types bankruptcy to address specific situations. Despite the fact that Chapter 7 is more commonly filed than any other type of bankruptcy, many people don't know enough about the process to decide whether it's the best option for them.

Personal bankruptcy may help New Jersey residents' credit scores

At one point or another in their lives, many people find themselves in the midst of what feels like insurmountable financial troubles. Often through no fault of their own, individuals face mounting credit card debt or other types of personal or medical debt and simply don't know where to turn. New Jersey residents can take comfort in knowing that filing for personal bankruptcy can actually be beneficial for their credit scores.

How will personal bankruptcy affect a sole proprietorship?

When times are tough and debt becomes overwhelming, New Jersey small business owners will likely consider their options. However, making informed decisions at this time may mean the difference between regained financial stability and losing everything. For this reason, gaining the relevant knowledge about personal bankruptcy and how it will affect one's business may be the appropriate first steps to take.

Can the cost of an attorney for personal bankruptcy be justified?

When a New Jersey consumer's financial stability is compromised by unanticipated occurrences, such as loss of employment or substantial medical expenses, various options are typically considered. Personal bankruptcy is one option that may seem drastic but offers the best protection. It is not uncommon for people to wonder why they should use some of their limited financial resources to pay for the services of a bankruptcy attorney.

A second personal bankruptcy filing may bring financial stability

Unanticipated medical bills or employment loss can have an enormous impact on the financial stability of any New Jersey consumer. Although personal bankruptcy can bring a fresh financial start in most cases, it does not guarantee smooth sailing forever after. In some cases, consumers may need to go through a second bankruptcy before they regain financial security.

Chef Luke Paladino files for Chapter 7 bankruptcy

A well-known Italian chef, Luke Palladino, who has been active in the restaurant industry in New Jersey and other states over the past 15 years recently closed his Linwood's Central Square restaurant in Atlantic County. A Chapter 7 bankruptcy was also filed by the celebrity chef recently. Visitors to the shopping center said they were surprised to find the restaurant closed.

New Jersey diner closes doors with Chapter 7 bankruptcy

The residents of Williamstown Township in New Jersey are mourning the closure of a diner that was part of their lives for decades. The doors closed recently after a federal bankruptcy court converted the company's Chapter 11 bankruptcy to Chapter 7 and ordered it to close. This will lead to liquidation of assets.

PRACTICE AREA CATEGORIES

Tell Us About Your Case

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

PROFESSIONAL ASSOCIATIONS

  • NACBA | National Association of Consumer Bankruptcy Attorneys
  • NACA | National Association of Consumer Advocates
Review Us
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.

FindLaw Network

qr code

EAST ORANGE
OFFICE
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

Back to Top