Jersey City Bankruptcy Attorney

Many people put off filing bankruptcy because they think it is a last resort. Unfortunately, many so-called "solutions" such as debt consolidation or negotiation only delay the inevitable, wasting time and resources in a futile endeavor. By filing bankruptcy now, you can put your debt problems behind you and get a fresh financial start.

At Goldman & Beslow, LLC, our attorneys have more than 44 years of experience helping debtors file bankruptcy. We offer a free initial consultation to discuss your situation and answer your questions. We offer services in Jersey City, Hudson County and other New Jersey communities.

Filing Chapter 7 Bankruptcy in Jersey City

Chapter 7 bankruptcy is the simplest form of bankruptcy protection. In a Chapter 7 bankruptcy, the trustee has the ability to take certain assets that are not protected and sell them to pay at least some of what you owe your creditors. At the end of the process, most remaining debts are discharged.

Your retirement savings and many personal assets are protected when you file Chapter 7 bankruptcy. However, assets such as vacation homes with substantial equity and expensive collectible cars may be taken by the trustee and sold to pay your creditors. The trustee can only attempt to sell an asset that has value above and beyond the exemptions allowed under the Bankruptcy Code. Most assets people own will not have this much value.

Chapter 7 bankruptcy is not for everyone. You need to pass a "means test" to be eligible for Chapter 7 bankruptcy. Chapter 7 bankruptcy is also not a good option if you have significant equity in your home.

Filing Chapter 13 Bankruptcy in Jersey City

If your earnings are too high to be eligible for Chapter 7 bankruptcy, or if you have assets that you would lose in a Chapter 7 bankruptcy filing, Chapter 13 bankruptcy may be right for you.

Chapter 13 bankruptcy allows you to:

  • Stop a home foreclosure and pay off arrearages over time
  • Consolidate and reduce credit card and other forms of unsecured debt
  • Discharge certain tax debts
  • Prevent repossession of your automobile or regain possession of a vehicle that was recently repossessed

Contact Our Hudson County Chapter 7 Lawyers

Let us get you back on your feet so you can get on with your life. Call our experienced Jersey City bankruptcy lawyers today for a free one-half hour consultation at 973-677-9000 or 888-827-5493.