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 13 Archives

What is a means test?

If you are struggling financially but are unsure if you qualify for relief through legal means, there is a test you can take to figure it out. It is called a means test. This is something that is available to all New Jersey residents who are considering bankruptcy as a way to resolve their monetary struggles.

Chapter 13 bankruptcy offers debt relief to New Jersey residents

For New Jersey residents who are facing insurmountable debt but have incomes that make them ineligible for Chapter 7 bankruptcy, Chapter 13 may provide just the debt relief for which they are hoping. Chapter 13 bankruptcy, sometimes referred to as reorganization bankruptcy, reorganizes debts to allow the consumer to pay just a portion of the outstanding debts. Also known as a "wage earner's plan," Chapter 13 also allows the filer to keep assets, so it may be a great option for those worried about losing property or nonexempt assets.

Some advantages of Chapter 13 bankruptcy in New Jersey

Residents of New Jersey struggling to pay their debts may not be aware that there are different types of bankruptcy. One type of bankruptcy filing, Chapter 13, is sometimes referred to as a wage earner's plan, and may offer hope for potential filers who did not meet the income eligibility requirements to file for Chapter 7 bankruptcy. Chapter 13 works as a debt reorganization plan, allowing individuals with a regular income to keep their property and assets and pay their debts over time.

Is ownership of a car protected in Chapter 13 bankruptcy?

When New Jersey consumers experience financial difficulties with no indication that their circumstances will improve shortly, they may consider filing for bankruptcy. However, those who cannot do without their cars may be concerned about the possibility of having to give it up if they file for Chapter 13 bankruptcies. Except under a few circumstances, consumers may be allowed to keep at least one vehicle.

Co-signing a loan may jeopardize the ability to protect assets

Out of concern, sympathy or love, some New Jersey people agree to co-sign a child or other family member's loan. While such an action can be admirable, it is not necessarily smart. Many parents have failed to protect assets after co-signing a child's student or car loan. Knowing that a co-signer typically has a stronger financial standing, creditors tend to go after them rather than the primary borrower.

Chapter 13 bankruptcy can do more than prevent foreclosure

New Jersey consumers who are overwhelmed by mountains of debt may find comfort in learning that there are ways in which debt problems can be resolved without losing their homes and cars. Chapter 13 bankruptcy is one of the options available through the U.S. Bankruptcy Code to protect consumers against foreclosure, creditor harassment, wage garnishments and more. This option allows a consumer to continue paying off debts according to a court-approved payment plan.

Does a bankruptcy filing affect assets in a will or trust?

Are assets in a trust subject to the jurisdiction of a bankruptcy court? The answer depends on the type of bankruptcy and the type of trust. However, a general rule of thumb is that assets over which an individual has control or a beneficial interest might be fair game. 

Are there tips for avoiding a premature bankruptcy dismissal?

As we mentioned in last week’s post, a bankruptcy filing can provide immediate relief to debtors in the form of the automatic stay. That legal protection brings a halt to creditors’ collection efforts until after the bankruptcy court has issued certain rulings, depending on whether the filing was under Chapter 7 or Chapter 13.

Can a Chapter 13 filing help graduates struggling with loans?

Can a Chapter 13 filing help recent graduates struggling with student loan debt? Although higher education may help many graduates obtain employment in their chosen field, a starting salary may not be enough to sustain debt management and a home life with children. 


Tell Us About Your Case

Bold labels are required.

Contact Information

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.



  • 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

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