Filing for bankruptcy can be a difficult decision, but for many individuals and families facing overwhelming debt, Chapter 7 bankruptcy offers a path to financial relief. At Robert H. Johnson LLC, we help clients in New Jersey navigate the Chapter 7 bankruptcy process, providing guidance and support to help them regain control of their financial futures.  What Is Chapter 7 Bankruptcy? Chapter 7 bankruptcy, often referred to as “liquidation bankruptcy,” is designed to eliminate most unsecured debts, such as credit card debt, medical bills, and personal loans. Unlike Chapter 13 bankruptcy, which involves creating a repayment plan, Chapter 7 allows you to discharge qualifying debts without having to make ongoing payments to creditors. In a Chapter 7 bankruptcy, a court-appointed trustee may sell certain non-exempt assets to pay off creditors. However, most people who file for Chapter 7 are able to keep the majority of their assets through the use of bankruptcy exemptions. Who Qualifies for Chapter 7 Bankruptcy? To qualify for Chapter 7 bankruptcy, you must pass the “means test,” which determines whether your income is low enough to qualify for debt discharge under this chapter. The means test compares your income to the median income in New Jersey for a household of your size. If your income is below the median, you likely qualify for Chapter 7. If your income is above the median, you may still qualify after deducting certain allowable expenses, such as mortgage or rent payments, healthcare costs, and childcare expenses. At Robert H. Johnson LLC, we help our clients determine if they meet the requirements for Chapter 7 bankruptcy and guide them through the process of completing the means test. The Chapter 7 Bankruptcy Process Filing the Petition: The process begins by filing a bankruptcy petition with the court. This includes providing detailed information about your assets, debts, income, and expenses. Your attorney will assist you in gathering and organizing the necessary documentation. Automatic Stay: Once you file for bankruptcy, an automatic stay goes into effect. This halts collection efforts from creditors, including wage garnishments, lawsuits, and foreclosure proceedings, providing immediate relief. Appointment of a Trustee: A bankruptcy trustee will be appointed to oversee your case. The trustee reviews your assets, debts, and financial situation, and may sell non-exempt assets to pay creditors. However, New Jersey bankruptcy exemptions allow most people to protect essential assets such as their home, vehicle, and personal belongings. Meeting of Creditors: About 30 days after filing, you will attend a “341 meeting,” where creditors and the trustee may ask you questions about your finances and the bankruptcy filing. Your attorney will be by your side to ensure this process goes smoothly. Discharge of Debts: If everything is in order, your qualifying debts will be discharged, typically within four to six months. This means you are no longer legally obligated to repay those debts, giving you a fresh financial start. What Debts Can Be Discharged in Chapter 7? Chapter 7 bankruptcy can eliminate many types of unsecured debt, including: Credit Card Debt Medical Bills Personal Loans Payday Loans Utility Bills However, certain debts cannot be discharged in Chapter 7, including: Child Support and Alimony: These obligations remain in place after bankruptcy. Student Loans: While student loans are generally not dischargeable, there are exceptions for extreme cases of hardship. Recent Tax Debts: Some older tax debts may be discharged, but most recent tax liabilities cannot. Debts from Fraud or Criminal Activity: Debts resulting from fraudulent activity or criminal acts are typically not dischargeable. Chapter 7 Bankruptcy Exemptions in New Jersey One of the biggest concerns for individuals considering Chapter 7 bankruptcy is whether they will lose their assets. The good news is that New Jersey allows bankruptcy filers to protect certain assets through exemptions, meaning you can often keep essential property such as: Your Home: New Jersey residents can use federal or state homestead exemptions to protect equity in their primary residence. Your Vehicle: You can often keep your car if the equity in the vehicle falls within the allowable exemption limit. Personal Property: Furniture, clothing, and other personal belongings are typically protected. Retirement Accounts: Most retirement accounts, such as 401(k)s and IRAs, are exempt from bankruptcy and cannot be seized by creditors. Your attorney will work with you to identify which assets are protected under New Jersey or federal exemptions and ensure that you retain as much of your property as possible. Benefits of Chapter 7 Bankruptcy Debt Relief: Chapter 7 eliminates most unsecured debts, giving you the opportunity to rebuild your financial life without the burden of overwhelming debt. Immediate Relief from Creditors: The automatic stay stops all collection efforts, giving you relief from harassing phone calls, wage garnishments, and lawsuits. Quick Process: Compared to other forms of bankruptcy, Chapter 7 is relatively quick, typically taking just four to six months from start to finish. Fresh Start: Once your debts are discharged, you have the chance to start over and rebuild your financial future without the constant pressure of unpaid bills. Why You Need an Experienced Bankruptcy Attorney Filing for Chapter 7 bankruptcy is a complex legal process that requires an in-depth understanding of bankruptcy laws and procedures. At Robert H. Johnson LLC, we have extensive experience helping individuals and families in New Jersey navigate Chapter 7 bankruptcy. Our team is here to guide you through every step of the process, from evaluating your eligibility to protecting your assets and ensuring that you receive the full benefits of a fresh start. If you are overwhelmed by debt and struggling to keep up with payments, Chapter 7 bankruptcy may offer the relief you need. At Robert H. Johnson LLC, we are committed to helping our clients in New Jersey achieve financial freedom through compassionate and effective legal representation. Our experienced attorneys will work with you to explore your options and guide you through the bankruptcy process. Contact Robert H. Johnson LLC today to schedule a consultation and take the first step toward a brighter financial future.

Facing financial difficulties can be overwhelming, but there is hope and assistance available. If you are a New Jersey resident considering Chapter 13 bankruptcy as a solution to your debt problems, you may want to consider seeking the expertise of an experienced attorney like Robert H Johnson LLC. With his years of experience in bankruptcy law, Attorney Johnson can guide you through the process and help you achieve financial relief.  Understanding Chapter 13 Bankruptcy: Chapter 13 bankruptcy is often referred to as a reorganization bankruptcy. It allows individuals with regular income to develop a plan to repay all or part of their debts over a period of three to five years. This type of bankruptcy can be beneficial for those who have steady income but are struggling to meet their debt obligations. The Role of Attorney Robert H Johnson LLC: Attorney Robert H Johnson specializes in bankruptcy law and has helped numerous clients navigate the Chapter 13 bankruptcy process successfully. He understands the complexities of bankruptcy laws and will work closely with you to create a feasible repayment plan that suits your unique financial situation. Personalized Approach: One of the key advantages of working with Attorney Robert H Johnson LLC is his personalized approach to each case. He takes the time to understand your specific circumstances and develops a tailored strategy that addresses your concerns and goals. Whether you are facing foreclosure, wage garnishment, or mounting credit card debt, he will advocate on your behalf and fight for your financial well-being. Expert Guidance Throughout the Process: Filing for Chapter 13 bankruptcy can be complex, involving detailed paperwork, court appearances, and negotiations with creditors. Attorney Robert H Johnson will provide expert guidance at every step of the process, ensuring that your rights are protected and that you have the best possible outcome in your case. Achieving Financial Freedom: By working with Attorney Robert H Johnson LLC on your Chapter 13 bankruptcy case, you can take proactive steps towards achieving financial freedom and starting fresh. With his knowledge, experience, and dedication to his clients, he will support you in overcoming your debt challenges and moving towards a brighter financial future. If you are considering filing for Chapter 13 bankruptcy in New Jersey, don't hesitate to reach out to Attorney Robert H Johnson LLC for trusted legal representation. With his compassionate approach and commitment to helping clients overcome financial difficulties, he can provide the guidance and support you need during this challenging time. Take the first step towards financial relief by scheduling a consultation with Attorney Johnson today.

Having trouble dealing with your debt problems? Look no further than Robert H. Johnson LLC, a dedicated debt settlement attorney ready to lead you towards financial freedom.

Facing foreclosure can be a stressful and overwhelming experience. This blog post from Robert H. Johnson LLC explains the importance of hiring an attorney for foreclosure defense in New Jersey. Learn about the benefits of professional legal representation, the intricacies of foreclosure law, and how our firm can help you protect your home and financial future.

Learn when to hire an attorney for debt settlement to effectively manage and reduce your debt. Discover the key scenarios that require professional legal assistance.

Understanding Chapter 7 Bankruptcy in New Jersey

Filing for bankruptcy can be a difficult decision to make, but sometimes it is the best option for getting a fresh start financially. In New Jersey, Chapter 7 bankruptcy is a common choice for individuals looking to eliminate their debts and start over. But how do you know when it's the right time to file? In this blog post, we will discuss some key signs that may indicate it's time to consider filing for Chapter 7 bankruptcy in New Jersey.  Overwhelming Debt: One of the most obvious signs that it may be time to file for Chapter 7 bankruptcy is if you are dealing with overwhelming debt that you cannot seem to get under control. If you find yourself struggling to make minimum payments on your credit cards, medical bills, or other debts, and are constantly being harassed by creditors, it may be time to consider bankruptcy as a way out. Loss of Income: Another common reason why people choose to file for Chapter 7 bankruptcy is due to a sudden loss of income. Whether it's due to job loss, reduced hours at work, or unexpected medical expenses, a significant decrease in income can make it nearly impossible to keep up with debt payments. If you find yourself in this situation, filing for Chapter 7 bankruptcy can help eliminate your debts and give you a fresh financial start. Using Credit Cards for Basic Necessities: If you are relying on credit cards to pay for basic necessities such as groceries or utilities because your income does not cover all your expenses, this could be a sign that it's time to consider filing for Chapter 7 bankruptcy. Using credit cards as a temporary solution often leads to even more debt down the line, making it difficult to ever get ahead financially. Constant Stress and Anxiety: Dealing with overwhelming debt can take a toll on your mental health and well-being. If you find yourself constantly stressed out about money and unable to sleep at night because of financial worries, it may be time to seek relief through Chapter 7 bankruptcy. Filing for bankruptcy can help lift the burden of debt off your shoulders and allow you to focus on rebuilding your financial future. Legal Action Taken Against You: If creditors have started taking legal action against you such as wage garnishment or lawsuits, this is a clear indication that your financial situation has become dire. Filing for Chapter 7 bankruptcy can put an immediate stop to these legal actions and provide you with protection from creditors while working towards eliminating your debts. Deciding when it's the right time to file for Chapter 7 bankruptcy in New Jersey is not an easy decision but recognizing the signs that indicate it may be necessary can help guide you in the right direction. If you are overwhelmed by debt, experiencing a loss of income, using credit cards for basic necessities, constantly stressed about money, or facing legal action from creditors – it may be time considered filing for Chapter 7 bankruptcy as a way out of financial hardship. Remember that seeking guidance from an experienced bankruptcy attorney in New Jersey can help navigate the process effectively and ensure your rights are protected throughout the proceedings.

If you're struggling with overwhelming debt, it can be difficult to know where to turn. One option that many people consider is hiring a debt settlement attorney. But what exactly does a debt settlement attorney do? And how can they help you manage your debts? In this blog post, we'll explore the ins and outs of hiring a debt settlement attorney in New Jersey.  First, let's start with the basics: what is a debt settlement attorney? Essentially, these attorneys specialize in negotiating settlements with creditors on behalf of their clients. They work to reduce the amount of money that their clients owe, often by negotiating lump sum payments or installment plans that are more manageable for their clients' budgets. So why might you want to hire a debt settlement attorney in New Jersey? There are several reasons. For one thing, if you're struggling to keep up with your bills each month, having an experienced negotiator on your side can be incredibly helpful. Your attorney will be able to communicate with your creditors on your behalf and work out arrangements that allow you to pay off your debts over time. Another benefit of hiring a debt settlement attorney is that they can help protect you from creditor harassment. If you've ever been hounded by collection calls or letters demanding payment, you know how stressful and overwhelming it can be. A good debt settlement attorney will take over communication with your creditors so that you don't have to deal with these stressful interactions anymore. Of course, like any legal service, there are costs associated with hiring a debt settlement attorney in New Jersey. It's important to understand these costs upfront so that you can make an informed decision about whether or not this option is right for you. Many attorneys charge a percentage of the total amount owed as their fee for services rendered. It's also important to note that not all debts are eligible for settlement. In general, unsecured debts like credit card bills and medical bills are more likely to be settled than secured debts like mortgages or car loans. Your debt settlement attorney will be able to advise you on which of your debts are most likely to be settled and develop a plan of action accordingly. If you're struggling with overwhelming debt in New Jersey, hiring a debt settlement attorney may be a good option for you. These attorneys specialize in negotiating settlements with creditors on behalf of their clients, helping to reduce the amount owed and make payments more manageable. They can also protect you from creditor harassment and provide valuable legal advice throughout the process. Of course, it's important to understand the costs associated with hiring an attorney and which types of debts are eligible for settlement before making any decisions. With the right guidance, however, a debt settlement attorney can help you get back on track financially and start building a brighter financial future.

How Chapter 7 Bankruptcy Can Stop Creditor Harassment and Collection Efforts: An Overview