Stop Creditor Harassment: Get Help From Ewing Chapter 13 Bankruptcy Attorneys
When life hits hard – job loss, medical emergencies, divorce – your savings can disappear fast. Suddenly, you are buried under an overwhelming mountain of debt.
It may feel impossible to get things under control, but you do not have to pay it all back under your current unsustainable terms. Chapter 13 bankruptcy can give you the chance to reorganize your debt into a plan that works for you.
At the Law Offices of Sklar Smith-Sklar, our Ewing Chapter 13 bankruptcy attorneys provide the dedicated representation you deserve right here in New Jersey. We treat you with the respect and compassion you need during this stressful time. We are ready to handle the legal heavy lifting, starting by showing you exactly how Chapter 13 bankruptcy can protect your future.
What Chapter 13 Bankruptcy Offers
Instead of selling off all your assets to pay off your debts through Chapter 7 bankruptcy, Chapter 13 bankruptcy allows you to reorganize your debt into a new repayment plan. This structured approach offers several distinct advantages:
- A manageable timeline: You consolidate your obligations into a structured repayment timeframe lasting between three and five years.
- Debt discharge: If you complete all your scheduled payments during this period, any remaining eligible unsecured debt will be legally discharged.
- Affordable payments: The size of your monthly payment depends strictly on your available disposable income and the total value of your nonexempt assets.
- Asset protection: This bankruptcy option lets applicants keep their major assets, including their homes and vehicles, allowing for a financial fresh start.
Our experienced lawyers will work closely with you to design a plan that both protects your property and establishes a sustainable path forward.
The Immediate Relief Of Filing Chapter 13 Bankruptcy
You do not have to wait until the end of your repayment plan to experience relief from financial stress. The moment our New Jersey bankruptcy attorneys file your petition, the court issues an “automatic stay.” This legal order places an immediate barrier between you and your creditors to deliver instant relief:
- An end to creditor harassment: Collection agencies are legally prohibited from calling, writing or contacting you in any manner.
- Protection against foreclosure and repossession: The stay halts ongoing foreclosure proceedings and vehicle repossessions, giving you time to resolve arrearages.
- A freeze on wage garnishments: Creditors can no longer deduct funds directly from your hard-earned paycheck.
- Legal accountability: Any creditor that willfully violates the automatic stay can face severe court-ordered penalties and sanctions.
These immediate legal protections give you the breathing room you need to map out your long-term financial recovery without constant outside pressure.
Frequently Asked Questions About Chapter 13 Bankruptcy
If you are considering bankruptcy in New Jersey, you likely have many questions about the process. Our experienced team at the Law Offices of Sklar Smith-Sklar is here to help. Below are the answers to the questions our attorneys encounter most frequently.
How much debt do I need to file Chapter 13?
There is no minimum debt requirement for a Chapter 13 bankruptcy filing. You simply need to have enough debt that the resulting financial relief justifies the process. There is, however, an upper limit. Your combined secured and unsecured debts must total less than $2,750,000. Aside from total debt, Chapter 13 eligibility is also based on your ability to repay it. This is why Chapter 13 is frequently referred to as a “wage earner’s plan.”
What is a “100 Percent Plan” in Chapter 13?
While many people qualify to reduce the total amount of debt they owe, some do not. If you are placed on a 100% plan, it means you must pay back the full amount of your debt. However, Chapter 13 still benefits you by stretching that debt into an affordable monthly schedule over several years, rather than forcing asset liquidation like Chapter 7.
If my income changes after filing Chapter 13, can I modify my plan?
Yes. Life happens, and your plan can adapt. If your income increases and you want to pay off your debt faster, or if your income drops and your current payments become unaffordable, you can petition the court for an official modification. You must continue making your original payments until the court formally approves the change.
What are the long-term credit implications of a Chapter 13 bankruptcy?
Filing will lower your credit score initially, but eliminating your debt provides the clean slate you need to start rebuilding it. Practically, you can use tools like secured credit cards and careful budgeting to restore your credit. Note that after completing a Chapter 13 bankruptcy, you must wait two years before filing for Chapter 13 again, and six years before you can file for Chapter 7.
Our New Jersey Lawyers Are Ready To Help You
Seeking bankruptcy is not a sign of failure or poor money management. Even the best financial planning cannot stop unexpected life events. We want to help you go through this transition smoothly. If you are ready to partner with an experienced bankruptcy lawyer that you can count on, take the first step today. Call our Ewing office at 609-568-7877 or email us to schedule your initial consultation.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.