New Jersey Chapter 13 Bankruptcy Law Firm
Sometimes you just can’t get ahead despite your best efforts. You work hard but your income just does not seem to cover even the basic necessities, much less your home mortgage or that toy your son or daughter really wants for his or her birthday. If you have too much debt, bankruptcy may be the right option for you.
Contact the New Jersey law firm of Klafter & Mason, L.L.C. to learn if filing for Chapter 13 bankruptcy is the best solution to your financial problems. Call 866-219-2495 or e-mail us to schedule a free initial consultation with an experienced bankruptcy lawyer.
What Is Chapter 13 Bankruptcy?
Chapter 13 bankruptcy is commonly known as the wage earner bankruptcy. This option allows individuals additional time to pay creditors through a court-approved debt reorganization plan. Usually the debtor is granted three to five years, depending on circumstances, to pay back a portion of accumulated debt. At the time of filing, an automatic stay is issued, immediately stopping foreclosures , wage garnishments, and other collection actions. At the end of the repayment plan, the individual is discharged from the debts addressed in the plan.
Is Chapter 13 Bankruptcy Right for Me?
Many times Chapter 13 bankruptcy is the best choice for debtors with significant equity in real property and/or other valuable assets. In some cases, a person may qualify for Chapter 7 bankruptcy, but it may be more advantageous to file for Chapter 13 bankruptcy — especially if the person has built significant equity in a home. As an experienced bankruptcy attorney, Gary L. Mason can help you determine if Chapter 13 bankruptcy is right for you.
We Can Guide You to a Fresh Financial Start.
Are you ready for a fresh start? Contact Klafter & Mason, L.L.C. today to start your journey toward financial freedom. We offer a free initial consultation with an experienced bankruptcy lawyer. Our office is handicapped-accessible and is conveniently located just fifteen minutes from the New Jersey Turnpike and the Garden State Parkway. Parking is free.