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Oct 21

Maple Shade Township Bankruptcy Attorneys for your Financial Needs

Maple Shade Township, NJ Bankruptcy Attorneys can help you navigate the complex process of bankruptcy in Maple Shade Township. We have years of combined experience in the field and are committed to protecting your rights throughout this process.


What is Bankruptcy?

When you file for bankruptcy, it is the process of sorting through your debts to determine which ones are legally required by law to be repaid. Once these debts have been identified, they are cut up into two categories: "priority" and "general unsecured claims." Priority debt includes money owed on items such as car loans or mortgages that were used for business purposes (like restaurants or farms). General unsecured claims include credit cards bills and medical expenses not related to an injury suffered in a car accident is important to note that priority debt must be paid back before general unsecured creditors receive any payment at all.


Types of bankruptcy filings

Bankruptcy filings provide for repayment schedules, but this type of filing requires the filer to have a regular income. These are known as corporate reorganizations that allow a company to remain operational while it deals with its debt problems. The federal government offers debtors another option through Bankruptcy Code provisions called "liquidation." This is an especially useful provision in cases where the debtor has very few assets; therefore, there isn't much left over after creditors receive what's owed them and liquidating becomes appropriate.


How to choose the right type of bankruptcy for you and your situation?

An attorney in Maple Shade Township, NJ will be able to help you decide which type of bankruptcy is best for your situation. Many people are unaware that there are several types of consumer bankruptcy cases. This is why it's important to have an experienced professional on your side who can advise you as to which one would best meet your needs and provide the most benefit. Please do not include numbers or bullet points within the content here. An experienced Maple Shade Township bankruptcy lawyer could recommend whether this option would work better than another form of legal relief.


Maple Shade Township Bankruptcy Attorneys can help you?

These Maple Shade Township bankruptcy attorneys can help you begin your journey out of debt. Bankruptcy is a legal way to resolve the financial problems that are holding you back from living life on your own terms. If you're considering filing for bankruptcy, it's important to know what types of bankruptcy there are and which will best fit your needs. People with regular incomes to create payment plans that they must follow over three or five years in order to catch up all their delinquent monthly payments so as not to be forced into liquidation under chapter seven. Under this repayment plan, most unsecured debts will be paid off at pennies on the dollar over time without ever having paid more than necessary each month to the bankruptcy trustee.


What is a bankruptcy case and how does it work?

A bankruptcy case is a legal proceeding for dealing with debt problems. A person or business becomes bankrupt by filing certain papers with the court, and their creditors are notified of this action. The goal in bankruptcy cases is to get rid of debts that cannot be repaid (such as credit card bills) while keeping the essential property.

Keaveney Legal Group
1000 Maplewood Dr #202, Maple Shade Township, NJ 08052
(800) 219-0939