Reorganize Debt with Chapter 13 Bankruptcy
A Chapter 13 bankruptcy allows you to organize your debt and come up with a plan to repay your creditors over a period that is typically within three to five years.
Qualifying For Chapter 13 Bankruptcy
Not all individuals will qualify to file for a Chapter 13 bankruptcy. This bankruptcy plan is reserved for those who have a consistent and regular income as you will be required to make regular payments towards the installment agreement to the trustee each month. The trustee will then allocate and disburse those funds to the creditors in the Chapter 13 agreement.
You can use Chapter 13 to:
- keep valuable non-exempt property
- stop foreclosure of your home or repossession of your vehicles
- makeup missed mortgage or vehicle payments
- stop interest from accruing on your tax debt
New Jersey Bankruptcy Court
New Jersey residents must file for bankruptcy with the United States Bankruptcy Court for the District of New Jersey. That court has 3 courthouses that serve the district located in Newark, Camden, and Trenton.
- Chapter 7 filing fee: $355
- Chapter 13 filing fee: $310
Start Your Journey to Financial Freedom Today!
Is your financial situation keeping you up at night? The Law Office of Lazaro Carvajal represents individuals, families, and businesses facing bankruptcy in North Bergen and throughout Hudson County. Call today 201-281-5577 to schedule a free consultation with a seasoned bankruptcy attorney.