Many people are facing financial challenges where their debts have become so massive that their situation may seem hopeless. Bankruptcy may be the answer to relieve some of these concerns. In such situations the first step to take is to schedule an initial consultation with an experienced and competent bankruptcy attorney.
It may be difficult to file your case without an attorney. At Rudikh & Associates, the experienced and knowledgeable lawyers will explain to you how to file bankruptcy in New Jersey. Bankruptcy is a multi step process and not easy to manage. A competent legal representation is essential in making sure that you obtain a discharge and not fall into many common pitfalls that may arise during the bankruptcy process. If your case is simple and you have no assets, it is possible for you to file your own bankruptcy, but in most cases, you will need the assistance of a bankruptcy lawyer in New Jersey (NJ). Bankruptcy Attorneys can provide legal and straightforward advice and determine what practical solutions exist in order to make sure that you don’t encounter difficulties in the process.
Our team of competent and dedicated New Jersey Bankruptcy Attorneys has designed this site to provide you with up-to-date information and news about Bankruptcy in New Jersey. You have to make an informed decision regarding bankruptcy because there is a lot on the line. If the information on the site does not answer your bankruptcy questions, our initial consultation is absolutely free and we can answer any and all questions that you may have regarding your bankruptcy filing.
When you come into to our office for a free consultation, one of our attorney’s meets with you on the individual basis. We have a detailed questioner that we fill out with you. We ask you questions about your assets, debts, income level, liabilities, etc. This information is collected in order to better assist us in understand which bankruptcy relief is right for you. Upon completion of our detailed initial screening, the attorney meeting with you will be able to advise you which type of Bankruptcy (Chapter 7 or Chapter 13) is most appropriate in your situation.
Rudikh & Associates, LLC are experienced bankruptcy lawyers who will fight to protect your rights and your property. We are ready to help you keep your home, vehicles and other property and fight aggressively in Bankruptcy Courts for your rights and property. While there are many cheap bankruptcy lawyers in New Jersey, it is important for you to speak with bankruptcy lawyers that are skilled and knowledgeable in both Chapter 7 bankruptcy as well as Chapter 13 bankruptcy.
Rudikh and Associates, LLC, is a team of New Jersey Bankruptcy Lawyers who file for Chapter 7 and Chapter 13 Bankruptcy Protection on behalf of our Clients.
Chapter 7 involves liquidation of non-exempt assets and discharge of unsecured debt, whereas Chapter 13 is applicable for a debtor who has regular income, and involves the opportunity to repay some or all the debts in better terms, i.e. lower or no interest. It should be noted that the entire bankruptcy process is carried out under the supervision of the Bankruptcy courts.
Chapter 7 is a liquidation bankruptcy, meaning it can eliminate most types of unsecured debt. Examples of unsecured debt are credit cards and medical bills. Individuals, married couples, corporations and partnerships can all file a Chapter 7 bankruptcy, if eligible. A Chapter 13 bankruptcy is a reorganization or repayment bankruptcy that stops foreclosure and sheriff’s sales and prevents repossession and utility shutoffs, but most of all gives you a fresh start.
For many people, Chapter 13 bankruptcy offers long-term solutions. As a debt repayment plan, Chapter 13 bankruptcy can wipe out your unsecured debt, while you pay back your secured and priority debt at a rate you can afford. Depending on your income level, your plan may be three (3) to five (5) years long. After you fulfill the three to five year commitment of your plan, any remaining debt will be discharged.
The greatest advantage to Chapter 13, for many people, is that it allows more opportunities for individuals to maintain important assets, such as retirement savings, homes, and cars.
One of our bankruptcy lawyers in New Jersey will work with you throughout the entire process. The plan that will be filed on your behalf will seek to immediately satisfy your short-term and long term goals.