Bankruptcy Lawyers in Monmouth County, NJ
Our Monmouth County Bankruptcy Lawyers can help an individual or corporate entity declare bankruptcy once they have ascertained that it has become impossible to pay off one’s creditors. It can give you a chance at a fresh start, as most of debts are relieved after bankruptcy as been filed.
Chapter 7, or liquidation bankruptcy, means that you will receive a fresh start and your creditors will be discharged. A reorganization bankruptcy can also get a fresh start, but more often is used to restructure debt while retaining the majority of your assets.
Reorganization bankruptcies can be filed under the following guidelines:
Chapter 9 – municipalities
Chapter 11 – businesses and individuals with many assets
Chapter 12 – farmers, fisherman
Chapter 13 – individuals with steady income
Chapter 15 – international cases
Contact us today to learn more about your options under the current bankruptcy laws. We’re here to help.