New Jersey Bankruptcy Lawyer | New Jersey Bankruptcy Attorney

Thank you for visiting the website of Jay Bhatt, Esq., the Jersey City, New Jersey Bankruptcy Attorney. A majority of our practice is focused on helping individuals who are experiencing financial difficulty and contemplating filing for a Bankruptcy in New Jersey. Our law firm represents clients throughout the State of New Jersey for Bankruptcy Cases and provides a free consultation in person, over the phone and through our free bankruptcy consultation form. Our experience and professionalism have helped us become one of the leading bankruptcy law firms in New Jersey. We have helped thousands of clients file for bankruptcy and look forward to working with you.

Determining whether a Chapter 7 Bankruptcy filing is the best option for you requires a thorough evaluation of your financial position. Searching on the internet for the right answers is a difficult task. We offer free information on this site to guide you in the right direction and help you make an informed decision. We also encourage you to contact us to discuss your case in detail and to determine whether you qualify for a chapter 7 bankruptcy.

It is important to realize that bankruptcy is an option that the law provides for. Bankruptcy is not a legal decision, it is a personal decision. Many people who consider filing for bankruptcy consider the morality of their decision. We address this issue by reviewing a few points about the morality of bankruptcy. If you are having financial difficulty, contact our office so you can make an informed decision.

Many of our clients have used the services of debt settlement agencies. That is usually a temporary solution. With interest on credit cards and personal loans mounting, bankruptcy is sometimes the best solution. Many people feel that their credit will be ruined if they file for a chapter 7 bankruptcy. This is not true. There are many ways to rebuild your credit after filing bankruptcy. We will provide you with a projected 12 month post-bankruptcy credit score. For most of our clients, the credit score usually increases post bankruptcy. The score increase is attributed to having a "clean slate".

How a Chapter 7 Bankruptcy Can Help You

Filing a chapter 7 bankruptcy will:
1. Stop Lawsuits
2. Eliminate credit card, medical, personal loans and other unsecured debt
3. Stop repossession
4. Stop wage garnishment
5. Remove liens
6. Eliminate judgments
7. Stop threatening calls and collection efforts

Chapter 7 Available Even With 2005 Law Change

On October 17, 2005, the Bankruptcy Abuse Prevention and Consumer Protection Act went into effect. There are several changes and extra requirements which are necessary to file a chapter 7 bankruptcy under the new law. Although there are fewer people that qualify for a chapter 7 bankruptcy under the new law, most people that would qualify before the changes still qualify now. The changes are meant to prevent consumers from abusing the bankruptcy laws. The three major changes are:

1. Credit Counseling Requirement: people who file for bankruptcy are required to take a credit counseling session. This is done prior to filing the bankruptcy petition. We highly recommend using www.debtorcc.org for taking the course.  This course is provided on the internet and takes 1 hour to complete (as required by the US Trustee). This course is also known as the pre-filing bankruptcy credit counseling, first bankruptcy course or the pre-filing bankruptcy credit counseling course. 

2. Debtor Education Course - Debtor Education Providers: people who file for bankruptcy are required to take a second course, often called the "debtor education course", "second bankruptcy course" and "personal financial management course". The goal of this course is to educate debtors on how to avoid financial mistakes in the future. We highly recommend using www.debtoredu.com for taking the course.  This course is provided on the internet and takes 2 hours to complete (as required by the US Trustee). This course is also known as the debtor education course, second bankruptcy course, pre-discharge bankruptcy course and the post-filing debtor education course. 

3. Means Test: this requirement is designed to prevent people from filing for chapter 7 bankruptcy if their income is too high (their alternative would be a chapter 13 bankruptcy). If your current monthly income is less than the median income for a household of your size in New Jersey, you pass the means test and qualify for a chapter 7 bankruptcy. If your household income exceeds the median income for a household of your size in New Jersey, you must go through a complex calculation to determine if you qualify. Once our office reviews your income and expenses, we will inform you whether you qualify. Below is a list of the median income for a household of your size in New Jersey:

New Jersey Bankruptcy Attorney Located in Jersey City - How We Work

Our office has a team of 5 attorneys that are dedicated to helping people file for bankruptcy. Although our office is located in Jersey City, we work with clients throughout New Jersey. Although we have clients travel from as far away as 2 hours to meet us, we have other options. We can schedule a full phone consultation which will allow us to review your bankruptcy case, determine whether you qualify and review your debt. All necessary paperwork can either be faxed, emailed or mailed to our office. This is a great option for people who have a very busy schedule or do not want to travel to the office.

Current Median Family Income

Family Size of 1: $59,060
Family Size of 2: $70,680
Family Size of 3: $85,573
Family Size of 4: $101,106

It is evident from the numbers above that the law still provides for a significant amount of income when qualifying for a chapter 7 bankruptcy. Most of our clients fall within this range and qualify for a chapter 7 bankruptcy. Contact us or use our free consultation form to have us determine whether you qualify.

New Jersey Bankruptcy Attorney
372 Summit Avenue
Jersey City, NJ 07306
Phone: 1 (888) 489-1533
Fax: (201) 798-8001