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New Jersey Bankruptcy

Most people in New Jersey file under chapter 7 or chapter 13. Chap 11 BK is normally only used by businesses and a few individual debtors with very large debts. It's too complicated and expensive for it to be worthwhile to the typical debtor.

Find a Bankruptcy Lawyer in New Jersey with our debt relief directory and get a free BK evalution for a loan modification, chapter 7, 11, 13 or debt settlement that could lead to a fresh start. Find out from a local attorney if bankruptcy is the best for your situation.

Save Your Home from Foreclosure with Chapter 13 Bankruptcy
According to Mark Goldman, a New Jersey Bankruptcy Lawyer, under a Chapter 13 bankruptcy, you can save your home. If your home is in foreclosure, you can file a Chapter 13 plan, a put together repayment plan to save your home. A Chapter 13 plan can also propose a sale or refinance of your home which will give you time to sell, without the fear of losing your home in a foreclosure, as opposed to a Chapter 7 trustee appointment, which can strip you of control over your property.

Avoiding Bankruptcy
Since October 2005, New Jersey chapter 7 bankruptcy laws and New Jersey chapter 13 bankruptcy laws have changed significantly. But, there are a couple of effective ways to avoid bankruptcy: debt settlement and loan modification. With debt settlement, you and your creditors reach an agreement on how much they will accept as full payment of your debt. A loan modification involves the mortgage lender improving the rates and terms of your mortgage loan so you can stay in the loan instead of foreclosing. New Jersey bankruptcy lawyers can explain your options and help you decide on the best one.

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