Bergen County Chapter 7 Bankruptcy Lawyer
Guiding You Through Chapter 7 Bankruptcy in Bergen County or Passaic County
Going through bankruptcy is difficult, and if you are facing it alone, it can be overwhelming. It is best to have the support and guidance of an experienced bankruptcy attorney. At The Law Offices of Susan S. Long, we will work with you from your initial consultation all the way through to your case’s resolution.
We understand that discussing bankruptcy can be a very personal conversation. When you contact our office to discuss filing for Chapter 7 bankruptcy, you are trusting us with something sensitive. That is why our attorney is dedicated personally to your case, handling it with both compassion and confidentiality. If needed, we are available to meet you at a time convenient and comfortable for you.
What is Chapter 7 Bankruptcy?
Chapter 7 bankruptcy is a liquidation proceeding. In this scenario, assets may be used to repay your debts. However, under the law, almost all debtors are able to keep their assets. There are set exemptions in place to help protect your home, vehicle, jewelry and other personal items. Therefore, in most cases, the debtor has no assets to lose in a Chapter 7 and will be provided with a relatively “fresh start”.
Not all debts are discharged under Chapter 7 bankruptcy. These non-dischargeable debts include:
- Child and spousal support
- Student loans
- Certain tax obligations
Additional debts not dischargeable under a Chapter 7 bankruptcy, but that may be discharged in a Chapter 13 include:
- Debt for luxury goods or services in excess of $600 made within 90 days of filing
- Loans or cash advances of $875 or more within 70 days of filing
- Certain fines and penalties for violating the law
- Debts incurred on the basis of fraud
Although bankruptcy remains on your credit report for 10 years, you can start improving your credit the day after discharge. As your bankruptcy counsel, we will work through your options and ensure that you are getting a fresh start on the best ground we can find.
Dedicated to You from Beginning to End
The key to any successful bankruptcy is understanding the situation before you and your options within it. We will work closely with you from the initial phone consultation through to your case’s discharge – keeping ourselves available to you for questions and support.