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Experienced Guidance When Considering Chapter 7 Bankruptcy

Coming to terms with the financial hardship in your life can be a hard thing to do. After experiencing a sudden hardship like job loss, divorce or medical emergencies, it may be time to consider pursuing financial freedom by filing for bankruptcy. When considering this option of overcoming money problems, you need someone who can give you the answers and guidance you need.

At Law Offices of Sklar Smith-Sklar, our New Jersey team can help you understand what bankruptcy has to offer, how you qualify for it, and what you need to do to earn it. While there are several methods of dealing with money problems through bankruptcy, Chapter 7 bankruptcy may grant you the best opportunity to overcome the difficulties you are facing.

How Chapter 7 Bankruptcy Can Help You

Before applying for bankruptcy, you should know about the two types of debt you may have: secured and unsecured. Secured debt is any type of debt you have that has collateral attached to it. Common forms of this debt include mortgages and auto loans. Unsecured debt is any debt that does not have collateral attached to it, such as credit card debt, unpaid utility bills, or medical debt.

Once you declare bankruptcy through Chapter 7 bankruptcy, you will need to sell off any nonexempt assets (like nonprimary residents and vehicles, or other valuables that are not necessary for living), the money from that sale will pay off your debt, and any remaining debt will be discharged by bankruptcy.

We can help you determine if you are eligible for bankruptcy, navigate the process of applying, and help you minimize the process to secure your discharge while avoiding costly mistakes. We treat all of our clients with respect and compassion, and we are proud to help them through such a difficult time. We can also help you if other forms of bankruptcy would better serve you.

Take Back Your Future

Instead of dreading answering the phone or going to the mail back in fear of debt collectors, let us help you clear your debt and start fresh in life. Call our Ewing office at 609-568-7877 or reach out to us online to schedule your initial consultation today. We look forward to meeting with you to discuss how bankruptcy can benefit you!