By Wand Agency
New Jersey Bankruptcy Lawyer
If you consult with a New Jersey bankruptcy lawyer who is aware of the latest laws and loopholes will be able to save yourself much grief in these troubled times.
1. In a Chapter 7 Bankruptcy you may still be able to keep your home and eliminate most or all of your other debts. If you are current on your mortgage and your equity in your home doesn't exceed the allowed limits you may keep your home and eliminate unsecured debts such as credit cards, loans and medical bills. Fortunately now, it’s easy to find a New Jersey bankruptcy lawyer who can help your family with their unfortunate debt and credit situation.
2. The New Jersey bankruptcy lawyer, Jeffrey Peltz relates, “If you have a home or car in New Jersey that you don't wish to keep, you may be able to legally wipe out those debts in Chapter 7 Bankruptcy. If you qualify for a Chapter 7 Bankruptcy and own a house, condo, co-op, land or time share and don't wish to keep it, you can surrender your interest in these properties and not be responsible for the mortgage.”
3. Chapter 13 Bankruptcy may allow you to eliminate much of your second mortgage or home equity loan. According to every informed New Jersey bankruptcy attorney, in a Chapter 13 Bankruptcy if your first mortgage exceeds the value of your home and you have a second mortgage or home equity loan, you may be able to have the second mortgage turned into an unsecured loan. In the Chapter 13 plan you may then be able to have the court approve a plan in which you only are responsible for paying back as little as 10% of what was owed on the second mortgage or home equity loan.
4. If you have fallen behind in your mortgage and you consult with a NJ bankruptcy lawyer you will discover that Chapter 13 Bankruptcy allows you the opportunity to keep your home and gives you time to bring your mortgage current. If you qualify for Chapter 13 Bankruptcy and you have fallen behind in your mortgage you can make a repayment plan to repay the arrears over a period of up to 5 years.
5. When you file bankruptcy with the help of a bankruptcy lawyer NJ your creditors are stopped in their tracks. The moment you file a bankruptcy petition you received the protection of the federal court. An automatic stay is issued that prevents your creditors form garnishing your salary, freezing your bank account, removing money from your bank account, repossessing your car or foreclosing on your home. These are the 5 secrets of a New Jersey bankruptcy lawyer.
If you need bankruptcy lawyers in NJ then you can access information from them immediately when you call the toll free number 1-855-625-0800. Attorney Jeff Peltz and his staff have helped more than 20,000 clients in the New Jersey area.
Find out more about your bankruptcy options in New Jersey at: http://www.aaalawyer.com
Read testimonials from New Jersey lawyer, Jeffrey Peltz from his satisfied clients. http://www.aaalawyer.com/references.htm
New Jersey Bankruptcy Lawyer