Bankruptcy Law: Chapter 7 and Chapter 13 - From time to time we all feel overwhelmed by all the bills and debts we have accumulated, and sometimes we might be tempted to think there is no way out. The bankruptcy attorneys at Sicheri & Sicheri can advise you of all your options. We are a federally mandated debt relief agency, and can help you understand which option will best meet you needs. Call us today to start working out a reasonable strategy that will allow you to keep your creditors at bay while enabling you to get back on your feet again.
Federal bankruptcy laws permit you to discharge most, if not all of your unsecured debt. By using the bankruptcy laws to your advantage, our South Jersey bankruptcy lawyers help debtors:
Recent bankruptcy law changes require individuals filing for Chapter 7, or "straight bankruptcy," to qualify based on comparable monthly incomes in their state. While some assets are exempt from liquidation, including social security benefits and retirement or 401k accounts, debts such as student loans, liens, and child support cannot be discharged under Chapter 7 bankruptcy. Our bankruptcy lawyers will guide you through the bankruptcy process, allowing you can make informed and effective decisions.
Chapter 13 involves restructuring your debt through a detailed, court-approved repayment plan. Also called the "wager earner plan," Chapter 13 bankruptcy allows you to make consolidated debt payments over a three to five year period. Chapter 13 is more expensive than filing Chapter 7 and requires you have a consistent source of income. However, creditors cannot collect beyond what they are allowed in the plan. We can help you calculate a reasonable repayment plan that you can live with and explain how best to budget your resources to complete the plan.
In addition to certain document preparation requirements under Chapter 7 bankruptcy, mandatory credit counseling and enrollment in an approved financial management program are required under both types of bankruptcy.
With our office just a phone call away, relief is in sight. We are a federally mandated debt relief agency and we can help you. Contact us today and have your bankruptcy concerns addressed by an experienced and courteous attorney dedicated to protecting your interests.
Sicheri & Sicheri, P.C.
1160 Beacon Avenue
P.O. Box 696
Manahawkin, N.J. 08050
Telephone: 609-597-9261
Fax: 609-597-1536
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