Newark Bankruptcy Attorney

If you are suffering from unmanageable credit card debt, medical bills, home foreclosure, wage garnishments or auto repossession, bankruptcy may provide a solution.

At Goldman & Beslow, LLC, our attorneys have more than 44 years of experience helping debtors get a fresh financial start. We offer a free initial consultation to discuss your situation and answer your questions. We offer services in Newark, Essex County and other New Jersey communities.

Filing Chapter 7 Bankruptcy in Newark

Chapter 7 bankruptcy is the simplest and fastest form of debt relief. In a Chapter 7 bankruptcy, unsecured debts such as credit card bills, medical bills and payday loans can be completely discharged. If you own significant assets, those assets may be liquidated to pay your creditors. However, many assets are protected by bankruptcy law exemptions.

Chapter 7 bankruptcy may be appropriate for you if:

  • You do not have significant mortgage arrearages
  • You do not own significant assets that are not protected by bankruptcy exemptions
  • You can pass the bankruptcy means test

Filing Chapter 13 Bankruptcy in Newark

If you have significant assets that you would lose in a Chapter 7 bankruptcy filing, you can still obtain debt relief by filing Chapter 13 bankruptcy. Chapter 13 bankruptcy may be right for you if:

  • Your earnings are too high to file Chapter 7 bankruptcy
  • You have significant mortgage arrearages and want to protect your home from foreclosure
  • You have other valuable assets such as a vacation home, boat, motorcycle or second car that has been paid off

Under a Chapter 13 bankruptcy, you file a debt reorganization plan to pay back a portion of your debt with reasonable payments over the course of three to five years. Under certain circumstances you may be able to eliminate second or third mortgages and reduce automobile payments.

Contact Our Essex County Chapter 13 Lawyers

Let us get you back on your feet so you can get on with your life. Call our experienced Newark bankruptcy lawyers today for a free one-half hour consultation at 973-414-8069 or 888-827-5493.