Our South Jersey Bankruptcy Attorneys Can Advise You
Are You Eligible to File Bankruptcy?
The good news is that personal bankruptcy is able to help almost everyone who needs debt relief. Our South Jersey bankruptcy attorneys can review your financial history, your income and your assets to help determine which type of bankruptcy you are eligible to file.
New Jersey Bankruptcy Eligibility Requirements
Each bankruptcy chapter has different filing requirements. Our attorneys are best equipped to determine your eligibility, and every person’s individual situation may have different outcomes. Some of the things that can affect your ability to file or which chapter to file include:
- The means test. The bankruptcy means test is a form everyone who files personal bankruptcy must complete. It is one of the most important documents in a bankruptcy case filing. The means test determines whether you can file Chapter 7 bankruptcy, or, if you want to file Chapter 13 bankruptcy, it determines how long your case must be and how much you have to pay. The means test is a complicated form with many variables and calculations, and completing it incorrectly can have serious consequences. Therefore, having an experienced attorney prepare your means test is very important.
- Income and expenses. Anyone who wants to file Chapter 13 must have the income to fund a Chapter 13 plan; anyone who wants to file Chapter 7 must be unable to pay back debts. Our lawyers will make sure the bankruptcy solution you choose is realistic and provides the relief you need.
- Previous bankruptcies. If you have filed bankruptcy before, you can still file again, but there is a waiting period, which depends on what type of bankruptcy you filed before and what type you want to file now. Our attorneys can check the dates of your previous bankruptcy and give you options based on what you need now and what the law will permit you to do.
- Amount of debt. Any amount of debt can go into a Chapter 7, but Chapter 13 has debt limits. Fortunately, there are solutions for every debtor, regardless of how high the debt balances are.
Our attorneys founded Jenkins & Clayman to help individuals and their families obtain a fresh start through bankruptcy. Bankruptcy eligibility has multiple variables; do not try to sort through them without knowledgeable legal counsel. If you need debt relief, contact our South Jersey bankruptcy lawyers today to determine which type of bankruptcy you are eligible to file. We serve all the lower 14 counties of New Jersey from our five office locations. Call today for a free consultation, and let our family help your family.