For individual consumers or business owners, filing Chapter 7 with the help of Chapter 7 Bankruptcy lawyers In Wayne NJ can be the fastest way to relieve a financial problem and head towards a brighter financial future. It is important to keep in mind that there are benefits and drawbacks to just about anything that you do in life. It should come as no surprise that filing bankruptcy is no exception to this.
Are you being harassed by creditors? Maybe you are receiving non-stop phone calls and letters in the mail? You could even be afraid that you are going to get sued, so that they can garnish your paychecks in order to get the money that you owe them. Other financial problems that tend to lead to filing bankruptcy include: concerns that your utilities are going to get turned off; concerns that your house is getting foreclosed on; and/or concerns that your vehicle is going to get repossessed. These are all valid reasons for you to reach out to one of the Chapter 7 Bankruptcy lawyers in Wayne NJ for assistance. Any of those financial problems valid filing Chapter 7 bankruptcy and it is your legal right as a United States citizen to do so.
Immediately after you file Chapter 7 bankruptcy, a court order is going to go into effect. This is going to make it illegal for creditors to communicate with you at all. They are not allowed to call you, make attempts to get their money, or send you anymore mail. Most people consider this to be extremely relieving as they finally have a little breathing room. You should keep in mind that creditors who are coming after you for alimony, student loans, or child support would still be able to contact you. In rare situations, your student loans could be discharged. However, it is an extremely complicated process and it is unlikely.
It can take at least four months for a Chapter 7 bankruptcy case to be processes and for a decision to be made by the judge. The judge is either going to discharge all of your debt, which will erase it from your record; or they will determine that you do not have an unmanageable amount of debt. Visit Website for more information about Bankruptcy!
