Author Archives: Garland & MasonAuthorManalapanNJ

Choosing the Right New Jersey Bankruptcy Lawyer for You

There are plenty of lawyers near you who can assist you with any number of legal challenges. However, choosing the right lawyer could be the difference between a successful case and one that leaves you wishing you made a better decision. How to Choose the Right New Jersey Bankruptcy Lawyer for You When it comes to bankruptcy lawyers, it is important to look into an attorney’s qualifications and experience. Every bankruptcy case has its own specific nuances. We recommend that you consider your New Jersey bankruptcy lawyer based on background, practice areas and success. At the end of the day, you need to feel comfortable with the person you choose to represent you throughout your bankruptcy. This is undoubtedly a difficult, stressful time for you and your family. Finding a human connection with an understanding lawyer can go a long way in helping you get through to the other side….
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5 Reasons You Need a Lawyer for Bankruptcy

Some people view bankruptcy as the end, but you should view it as a new beginning. When debt becomes unmanageable, contacting a lawyer for bankruptcy is important. A bankruptcy lawyer can help you compare your options and find out if you qualify for this type of relief. Many people who delve into the benefits of bankruptcy wonder if they actually need a lawyer. After all, if you are pursuing this option due to financial stress, the cost of hiring a lawyer could seem unnecessary. There are several reasons that hiring an attorney can actually minimize your stress, expenses, and time spent on this process. Reason #1: Proper Paperwork and Deadlines People who file bankruptcy for the first time may be shocked by how much legal paperwork bankruptcy requires. Be prepared to fill out the same information in different ways many times before your discharge is granted. Each of these documents…
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How to Rebuild Credit After Bankruptcy

Many people who file for bankruptcy are afraid of what could happen to their credit reports. You have a credit report on file with the three credit reporting agencies (CRAs). These CRAs are Equifax, TransUnion and Experian. The information on your credit report is compiled into a FICO credit score, which is used by most lenders. After a bankruptcy, it is likely that your credit score has taken a hit regardless of your filing status. However, the good news is that your credit score is not permanent. You can begin repairing your credit during or after your bankruptcy. Steps to Repair Your Credit After Bankruptcy Steps to repair your credit after bankruptcy may include: Pulling your credit report. To get an idea of what needs to be repaired, you will have to pull your three credit reports from Equifax, TransUnion and Experian. You can receive one free credit report from…
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Do I Qualify for Chapter 13 Bankruptcy?

While no one relishes the idea of filing for bankruptcy, it may be the best option to get out from suffocating debt. Chapter 13 bankruptcy is a type of bankruptcy that many debtors use. However, to file under Chapter 13, you will first need to find out if you meet standards to qualify for Chapter 13 bankruptcy. Difference Between Secured and Unsecured Debt Unlike secured debts, unsecured debts are not secured by property. This means that creditors cannot take property away from you to satisfy debts. Common examples of unsecured debts include: Medical fees Lawyer fees Credit card bills Utility fees Student loans Secured debts are tied by way of liens to property which creditors can seize as payment for debt. Who Qualifies for Chapter 13? According to United States Courts, if your unsecured debt totals less than $394,725 and your secured debt is no more than $1,184,200, you may…
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Bankruptcy and Your Credit Rating

Many people are afraid of what could happen to their credit scores if they file for bankruptcy. The three credit bureaus have financial information that scoring agencies take into account when creating your credit scores. Lenders use these credit scores (there are many types) to make decisions on whether to offer lines of credit to borrowers. There are many misconceptions about bankruptcy. There is a common misconception that bankruptcy permanently ruins your ability to access credit. This is not the case. If you are considering filing for bankruptcy, then worrying about credit scores should not be at the top of your priorities list. Protecting your assets and improving your immediate financial situation should be a greater priority. Are your properties at risk of being seized by creditors? Are your wages being garnished? If so, then you should know that waiting to file for bankruptcy could cause more damage to your…
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