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X. Help Choosing the Right Bankruptcy to File

As the final post in our 10 Reasons to Hire a New Jersey Bankruptcy Attorney blog series, we will discuss how a competent New Jersey bankruptcy lawyer can help you select the right bankruptcy to file.

Choosing which kind of NJ bankruptcy to file can be a harrowing decision. That’s why many indebted individuals choose to discuss their hopes and fears about their finances with a trustworthy bankruptcy New Jersey lawyer. Bankruptcy options abound and include:

  • Chapter 7
  • Chapter 11
  • Chapter 13
  • Financial/debt counseling
  • Other actions

A competent and trustworthy attorney can review your lists of assets and liabilities, your financial history, your potential to earn more money, and your goals for the future, to help you determine what’s the best kind of bankruptcy to file.

In some cases, bankruptcy will be voluntary; in other cases, a debtor can be involuntarily forced to file for bankruptcy. A good attorney can explain the nuances of voluntary vs. involuntary filing and develop customized solutions and strategies.

Often, debtors who struggle with the specter of foreclosure, want more than anything to protect their homes (or other large assets). They may have been told that filing for Chapter 13 instead of for Chapter 7 will ‘help save their house.’ However, the situation may not always be so clear. A good lawyer can help you make the best decision.

In some cases, debtors may want to work with a credit/debt counselor for an interim period to see whether some debts can be controlled before bankruptcy needs to be filed. In other cases, bankruptcy may be the most immediate and obvious solution.

To summarize: picking the ‘right’ kind of bankruptcy to file requires a deep analysis of your current financial situation, your goals, values, and how all of these factors interpolate with NJ bankruptcy law.

Given how crucial it is to choose the best method of financial reorganization, it makes sense to retain an experienced, responsive, and accessible attorney, like Robert Manchel. Since 1992, the Law Offices of Robert Manchel have helped hundreds of indebted consumers resolve their financial problems, keep major assets like houses and cars, shut down creditor harassment, negotiate effectively with trustees, and learn better practices for financial management to avoid problems down the line. To get help now to resolve your foreclosure or bankruptcy situation, connect with our associates at (866) 503-5655.

Please refer back to our blog for more important information and updates relating to New Jersey foreclosure and bankruptcy resolution.

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