With the high rates of unemployment and the economy in danger, people will seek out bankruptcy lawyers to help them get out of debt. Bankruptcy is a legal proceeding involving a business or person that can’t afford to pay their debts.
According to one study done by the New York Post, one in four Americans do not have enough money saved to cover more than two months of expenses and one out of every four people doesn’t have any savings. Moreover, a poll conducted on behalf of Chase bank showed that 40% of adults wouldn’t be able to cover unexpected expenses of more than $400. With the uncertainty of the coronavirus and these statistics, many individuals in New York and New Jersey will be forced to file bankruptcy.
If you are struggling with debt, filing a New Jersey bankruptcy may help you get back to enjoying life in the Garden State. The first step to a successful Chapter 7 bankruptcy in New Jersey is finding a New Jersey bankruptcy lawyer that can help you through the process. How to File a New Jersey …
Cost of a New York Bankruptcy Attorney The cost of a New York Bankruptcy attorney usually ranges anywhere from $1500 and up. Although, the cost of a New York bankruptcy attorney may seem high, there are many reasons to hire a bankruptcy attorney if you plan to go bankrupt. Qualifying for a New York Bankruptcy …
How to File a New York Bankruptcy If you are overwhelmed with debt filing a Chapter 7 New York bankruptcy may be in your best interest. A Chapter 7 New York bankruptcy is a great tool that is used to eliminate your debt. In order to file bankruptcy in New York, you will first have …
What is Bankruptcy? Bankruptcy is a way to get a fresh start by eliminating your debt or by paying back some of your debt over a 3-5 year plan. It is a legal process overseen by Federal Bankruptcy Courts and judges. It’s designed to help individuals and businesses eliminate all or part of their debt …
The Answers to the top 5 most asked questions about filing bankruptcy. This article covers whether you need an attorney to file bankruptcy, the difference between chapter 7 and 13, how much does a bankruptcy attorney cost, which chapter of bankruptcy is better and what is bankruptcy
If you are reading this then you are probably asking yourself “Should I file bankruptcy?” A Chapter 7 bankruptcy is the most common form of bankruptcy. A chapter 7 bankruptcy can also be referred to as liquidation; although with most cases, there is little if any actual liquidation involved. Chapter 7 usually means that if you have any assets they get liquidated to pay the creditors. Of course, there are many exemptions. An experienced bankruptcy lawyer can go over the different chapters of bankruptcy and explain in more detail what chapter 7 is.
There are two different kinds of bankruptcy that individuals can file for: Chapter 7 and Chapter 13. Chapter 7 bankruptcy is for people who have less income and primarily assets with not much value. On the other hand, a Chapter 13 Bankruptcy is for people who generate more income and have assets with equity. Under …
In order to file Bankruptcy in New York it is important to understand how to file bankruptcy and which chapter of bankruptcy you qualify for. The first step in doing this is to speak with a bar certified New York bankruptcy attorney that can review your case and explain all of the different bankruptcy exemptions …