What is Bankruptcy?

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Chapter 7 Bankruptcy: Getting from filing to debt relief is almost instantaneous. The full chapter 7 bankruptcy process takes roughly 3 to 6 months. However, as soon as you file, you will stop defaults, garnishments, repossessions, and lawsuits that would hurt your credit. Some people worry bankruptcy will hurt their credit, however, it is possible to rebuild your credit in 1 to 2 years through a program like 7 steps to a 720 credit score. 

Some people think that they are too broke to file for bankruptcy. However, we offer payment plans so that you do not need to pay until after your bankruptcy has been filed. You could even put the court filing on a payment plan.

If you are facing foreclosure, a chapter 7 bankruptcy could help stop the sale of your home at auction and even set you up to eventually file a chapter 13 bankruptcy to arrange for repayments of your home. This is jokingly called a chapter 20 bankruptcy. 

This allows a debtor to discharge his or her unsecured debt through the chapter 7 before paying their secured debts in the chapter 13 bankruptcy.

Piles of statements and bills with no end in sight can be overwhelming, especially if you’re far behind in payments. Trying to pinch every penny to no avail is no way to live. The constant calls from creditors only add to the stress and anguish of not being able to move ahead. You’ve tried credit counseling and other financial alternatives to ease your debt burden, but the debt is still accumulating.

If you’ve exhausted all of your options, it may be time to consider bankruptcy. Bankruptcy does not have to be an arduous process, and you do not have to go through it alone. Enlisting the help of a bankruptcy attorney can help make the transition easier with little to no stress.

When figuring out the right bankruptcy option, most individuals find that they are able to file a Chapter 7 bankruptcy. Filing a Chapter 7 bankruptcy can help eliminate a lot of debt. In some cases, people are able to eliminate all of their debt and start fresh. In order to determine whether Chapter 7 is the right option, it is wise to consult with a knowledgeable Chapter 7 bankruptcy attorney in New Jersey.

Filing a Chapter 7 bankruptcy has the potential to discharge all unsecured debts such as credit cards, personal loans, and medical bills. However, some debt may not be entirely eliminated or discharged, such as mortgages, student loans, car payments, tax debt, child support, and alimony. Exemptions may apply, and individuals filing for Chapter 7 may be able to keep some or all of their property, including their home and car. State and federal laws protect certain property from the bankruptcy process through exemptions. It is important to talk to an experienced Chapter 7 bankruptcy attorney in New Jersey to discuss exemptions and the debts that can be eliminated or discharged regarding your specific circumstance.

The office of Patel & Soltis, LLC, can help you navigate and file your Chapter 7 Bankruptcy, whether you’re located in Jersey City, NJ; Hackensack, NJ; Freehold, NJ; Newark, NJ; Brooklyn, NY; or New York City, NY.

Filing Chapter 7 Bankruptcy

It is best to seek the assistance of a Chapter 7 bankruptcy attorney in New Jersey to help file your case. Many issues can arise if you decide to file your own Chapter 7 with the court. Inaccurate or missing information can delay the process and become costly. The court may also deny your case altogether due to missing paperwork or incorrect procedures. People who file on their own tend to hire an attorney after realizing how challenging and overwhelming the legal process can be.

In order to file in New Jersey, a debtor must meet the state’s residency requirements. The requirements ask that the debtor must have resided in New Jersey for at least 180 days. Some people, however, may be allowed to meet the residency requirement in 91days. Aside from residency requirements, in order to qualify for Chapter 7, an individual or married couple must pass a means test. The means test indicates whether a person or married couple qualifies financially to file for Chapter 7. The means test takes into consideration the debtor’s income against the state’s median income level. If the income is below the median level, then filing for Chapter 7 is possible. If the debtor is above the median level, they may not be eligible to file Chapter 7, but can possibly file for Chapter 13 bankruptcy instead. An expert Chapter 7 bankruptcy attorney in New Jersey can help determine whether you qualify to file a Chapter 7.

If you qualify for Chapter 7 and your bankruptcy has been filed with the court, an automatic stay applies. An automatic stay prohibits creditors and collection agencies from contacting you during bankruptcy. In other words, creditors and collection agencies cannot contact you to collect a debt. This is music to many ears as individuals already going through a financial hardship don’t have to deal with harassing debt collection calls while going through bankruptcy. Furthermore, once the bankruptcy discharges all debt, the automatic stay becomes a permanent discharge injunction. A permanent discharge injunction prohibits a creditor whose debt has been discharged from taking any action to collect that debt.

A Chapter 7 bankruptcy can substantially lessen your financial burden while keeping creditors and collection agencies off your back. Moreover, many people filing for Chapter 7 are able to keep their house and car due to exemption laws set forth by the state and federal government. Every case is unique, and the best way to know whether your debt can be discharged is by contacting a Chapter 7 Bankruptcy attorney in New Jersey to assess your case.

Whether you’re in New Jersey or New York, Patel & Soltis, LLC serves the following areas: Jersey City, NJ; Hackensack, NJ; Freehold, NJ; Newark, NJ; Brooklyn, NY; Bronx, NY or New York City, NY.

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Very pleased with the level of care and attention in dealing with this law firm. They were always quick to respond and patient with a very impatient first time home buyer! Robert Ranalli was my attorney and I would recommend for any legal needs.

Nashir M.

I had the pleasure of working with Veer Patel and staff for several months and could not have been more pleased with the attention, care, and professionalism of everyone at the firm. Really good experience and would definitely recommend!

Brian R.

Mario GarzonaMario Garzona
14:15 27 Mar 23
Thank to Patel and Cardanas. They helped us with an extreme amount of litigation with a partition real estate case. It’s allways difficult fighting with family but they navigated all the twists and turns we’re experienced and prepared to deal with it all. The outcome was better than anticipated I would use them and 100 percent recommend then. Thanks too Veer and John for the amazing work
Monica OzMonica Oz
02:29 03 Jan 23
I had a wonderful experience working with Veer Patel. He worked hard for me and got me the best possible result. His fees were reasonable and there were no surprise charges. He was also very compassionate regarding my circumstances. Mr Patel is skillful in explaining complex legal processes in layman's terms. He was always available for me night and day and would always return calls promptly. I would highly recommend him to anyone in need of legal services.
Mustafa PachaMustafa Pacha
22:06 18 Nov 22
A respectable law firm. The attorneys & staff are courteous, prompt with return calls/emails and provide me with exceptional attention. As a first time home buyer, their patience with me was exceptional. Would definitely recommend to anybody who is looking for a real estate lawyer for their next closing
Melissa DuranMelissa Duran
21:19 01 Nov 22
Veer Patel and John Voorhees helped me file a partition against my ex boyfriend in April 2022 and in Nov 2022 I am happy to say my case was settled. I am beyond grateful to have chosen them for my legal battle. They were knowledgeable of the process, hard working, dedicated, and detailed. It was great to work with a team who I knew was fighting hard for me. I 100% recommend working with this law firm and would work with them again.
DhokhadhariNala LaroDhokhadhariNala Laro
00:45 23 Sep 22
True evil exists in this world and you DON'T want to meet it. If you do meet it, you need assistance from people who can fight it, such as this law firm. Mr. Patel and his associates helped me fight evil. That is not an elementary task.I saw a very few 1-star reviews of the firm (some pretty old). As you know, some people who write reviews on Amazon or elsewhere are not reliable reviewers and you cannot take their comments seriously. You decide.Read on if you care about my story (or skip it if you are satisfied that I rated them 5 stars). You will see the depths of evil that exist and what you can do. It may be too big to tackle on your own, so you need some expert help to navigate a way out.You know true evil exists, but you don't think too much about that fact or it would paralyze you. People would rather safely view evil on a fictional crime show, confident that they will never meet it in real life. You have seen evil yourself on television, but, unlike me, you may not have met it in person.I see true evil when I turn on the television and see sworn members of the US government utter completely false statements, assertions demonstrably untrue, but which they assume I will believe. My jaw hangs open at the malevolence of such action, the blatant dishonesty, the disregard for me as a citizen, the insidious diminution of my personal rights, the insatiable hunger for power and control that it exposes.Such people do not walk around enveloped by a cloud of green smoke; you won't realize it, at first, when you have met such a person. Hannah Arendt knew that and described it as the "banality of evil."Meeting evil doesn't have to mean encountering Ted Bundy in a parking lot. Evil can do things other than kill you. They are people with no conscience. Those are the most dangerous foes because they acknowledge no limits.I met such a person and, unfortunately, conducted business with him.He lied to me repeatedly and actively worked to prevent me from finding out the truth. He nimbly worded his sentences to avoid saying the words that would clue me in to the truth. Someone else knew the truth, so he tried to prevent me from talking to her. He even, perversely, tried to verbally prod me into thanking him for his seeming generosity, all the time knowing that he was very far short of generous. He knew what he was doing and did it with the cool efficiency of a member of the Sicherheitsdienst. He has apparently made a profitable career of it.After my lawsuit was filed, he lied frequently and extensively in court filings under oath and falsified evidence to deflect blame from himself, temporarily fooling even my own lawyers. He insisted he was actually the victim and expressed phony outrage that anyone would say he had been lying.It was like seeing one of the pernicious television people I described above, but in real life.True evil. No conscience. Chilling.You should pray you do not meet such a person. You would gasp in horror if I told you from which profession he had retired.Mr. Patel and the lawyers at this firm did some adroit legal work to set things right. The firm provides service in different legal areas, but I can only comment on the case for which I hired them, which is in the litigation area.You don't go to a reconstructive plastic surgeon to put 4 stitches into a laceration your son got on his leg sliding into base in Little League. Your insurance company would tell you it is a waste to use such an expert--a resident in the ER can do it instead. Similarly, you probably don't use these lawyers for a routine house closing. That would be a waste.You use these lawyers for complicated work.Mine was a complicated case requiring legal research and artful construction of court filings and we got a good result. That is why I recommend them.
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