NJ Bankruptcy Laywer

Paul Ferrell Jr. is a local bankruptcy lawyer located in Marlton New Jersey. In today's often challenging economic crisis, many families are the seeking relief available under bankruptcy laws. Many families and individuals have experienced a serious need for legal assistance in receiving the relief provided by law. Marlton lawyer Paul Ferrell Jr. provides compassionate and affordable legal assistance. Unmanageable debt is a serious concern for many Americans. If you are experiencing stress, anxiety, phone calls from creditors, the threat of foreclosure, the threat of repossessions, wage garnishments, bank account garnishments and other adverse consequences, then bankruptcy may be an answer for you.

NJ Chapter 7 Bankruptcy

Chapter 7 bankruptcy is the most common form of bankruptcy. Marlton lawyer Paul Ferrell Jr. has obtained this form of relief for his clients, relieving them from multiple overwhelming financial obligations. When an individual or business is deeply in debt and unable to pay creditors for service of the debt, they may file for Chapter 7. This is known as straight bankruptcy and liquidation. The individual is permitted to keep certain property exempt. Most liens, such as real estate mortgages and car loans, survive. There are some forms of debt that are commonly not dischargeable in a Chapter 7; including student loans, property taxes, child support, less than three year old income tax, fines and restitution imposed by a court for crimes, spousal support, etc. A Chapter 7 will also remain on the individual's credit report for 10 years from the filing date. Future credit statuses are dependent on multiple factors and are often difficult to predict. Choosing between a Chapter 7 and a Chapter 13 bankruptcy is dependent on a number of financial and personal factors. Marlton lawyer Paul Ferrell Jr. will be able to assist you in weighing your financial status as you make this important decision.

Chapter 13 Bankruptcy

A chapter 13 bankruptcy enables income receiving debtors to undergo a financial reorganization. Marlton lawyer Paul Ferrell Jr. assists many individuals in applying for relief under The NJ Chapter 13 Bankruptcy Law. Individuals who have automobile loans and mortgages may be able to utilize this legal option as a means for resolving past due obligations, while maintaining the possession and use of their automobiles and home. The Chapter 13 bankruptcy law is also effective in qualifying debtors to prevent seizures, wage garnishments, sheriff sales, repossessions, and many other possible adverse consequences created by overwhelming debt that has fallen seriously behind. Marlton bankruptcy lawyer Paul Ferrell Jr. is a caring and compassionate attorney, who provides legal assistance in achieving economic solutions through today's bankruptcy laws. Contact us at 856-797-1645 to learn more about the options available for receiving relief from unmanageable debt.