Chapter 13 Bankruptcy Attorney In Hammonton, New Jersey

What Is A Chapter 13 Bankruptcy?

If you're in New Jersey and struggling with house or car payments, a Chapter 13 bankruptcy can be your lifeline, saving your home from foreclosure, saving your car, and potentially even reducing your payments. In certain scenarios, you might even be eligible for a plan that lets you pay only a portion of your debt while keeping all your assets, including your home and car.

The state of New Jersey has some of the highest costs of living in the United States, making it difficult for individuals and families to keep up with financial obligations. This can be especially challenging when facing overwhelming debt from mortgage and car loans. In these situations, a Chapter 13 bankruptcy may be able to provide much-needed relief.

Unlike a Chapter 7 bankruptcy, which involves liquidating assets to pay off debts, a Chapter 13 bankruptcy allows you to create a repayment plan based on your income and expenses. This means that you may be able to reduce your monthly payments and avoid losing your home or car through foreclosure or repossession.

Even if you are burdened with past parking tickets leading to the loss of your driver's license, a Chapter 13 proceeding could be your path to reinstating your license. However, to leverage all the benefits of a Chapter 13 bankruptcy, you need a guide who is well-versed in bankruptcy law. Here's where Andrew Carroll comes in. With a proven track record in successfully handling Chapter 13 proceedings, Andrew Carroll is ready to help you navigate towards a positive outcome. Learn how Andrew Carroll can serve you. Schedule an appointment today.

Call Carroll Law Firm, P.C at 856-281-2431 to schedule a consultation with a lawyer today.

Case Types

How Do I Qualify for a Chapter 13 Bankruptcy?

Firstly, you require a consistent stream of income, sufficient to make regular payments as per the court's decision. The source of your income can range from employment to Social Security or disability benefits, unemployment compensation, retirement benefits, and even rent. However, those engaged in stock or commodity broking, or corporations, are not eligible for Chapter 13 bankruptcy relief. As a sole proprietor and self-employed individual, your eligibility hinges on whether your debts fall within certain defined limits. Additionally, if your debts span beyond three to five years, you have a high chance of qualifying, provided you pass a means test to assess your eligibility. Andrew Carroll, a proficient bankruptcy attorney based in New Jersey, can conduct a thorough review of your financial situation before you file. This is done to ensure that filing for Chapter 13 bankruptcy is indeed the right choice for you. Initiate the process by reaching out to Andrew Carroll's office without delay.

What Happens During a Chapter 13 Proceeding?

First, your eligibility will need to be determined through a certain test we'll guide you through. If you meet the criteria, Andrew Carroll can assist you in New Jersey with filing for a Chapter 13 bankruptcy which will halt any foreclosures, wage garnishments, repossessions, lawsuits, or other forms of creditor harassment. While we work together to create a repayment plan, court approval is mandatory. The court will check whether you proposed this plan genuinely, and if the amount your unsecured creditors receive is not less than what would have been paid with a Chapter 7 filing. Your payments must also maximize all your disposable income - all your income that doesn't go towards your maintenance and support. It might seem a multifaceted process, but with a seasoned bankruptcy lawyer like Andrew Carroll with you, be assured that you'll navigate this journey successfully.

A Chapter 13 bankruptcy is a legal process that allows individuals to create a repayment plan for their debts while also getting protection from creditor actions. This type of bankruptcy can be especially helpful for those facing imminent foreclosures, wage garnishments, repossessions, lawsuits, or other forms of creditor harassment.

One of the main benefits of filing for Chapter 13 bankruptcy is that it immediately stops all collection efforts from creditors. This includes any ongoing legal action such as foreclosure proceedings or wage garnishments. This can provide much-needed relief and breathing room for individuals struggling with overwhelming debt.

To start the process, reach out to Andrew Carroll's office today.

Disclaimer: We are a debt relief agency. We are attorneys who help people file for bankruptcy relief under the bankruptcy code.

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856-281-2431

Location

427 North Packard Street

Hammonton, NJ, 08037

Map & Directions

Hours

Mon - Fri: 9:00 am - 5:00 pm
Sat - Sun: Closed

Disclaimer: We are a federally designated debt relief agency. We help people file for relief under the United States Bankruptcy Code. We are a federally designated debt relief agency. We help people file for relief under the United States Bankruptcy Code. Before making your choice of attorney, you should give this matter careful thought. The selection of an attorney is an important decision. If this information is inaccurate or misleading, report same to the Committee on Attorney Advertising, Hughes Justice Complex, P.O. Box 037, Trenton, New Jersey 08625.

The information on this website is for general information purposes only. Nothing on this site should be taken as legal advice for any individual case or situation. This information is not intended to create, and receipt or viewing does not constitute an attorney-client relationship.