New Jersey Home Foreclosure Lawyer
There are so many myths and misconceptions going around about bankruptcy that it is entirely possible that much of what you have heard about the process is incorrect. My name is attorney Joel R. Spivack. I have more than 20 years of bankruptcy experience, and I am happy to use that experience to educate you about the realities of filing bankruptcy. To start with, here are some common myths that I would like to dispel:
New bankruptcy laws eliminated bankruptcy as an option for most people: In 2005, a bankruptcy reform law called the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) was passed. This law did not eliminate bankruptcy as an option. If you are considering bankruptcy, it is because you are overwhelmed with debts. You will most likely qualify for Chapter 7 bankruptcy or Chapter 13 bankruptcy.
Filing bankruptcy requires you to give up everything you own: You do not have to give up everything you own when you file bankruptcy. You will be able to keep the majority of your property, including your home and car. Bankruptcy is not designed to leave you empty handed and on the street. It is designed to help you overcome financial problems. In fact, filling bankruptcy can stop home foreclosure and auto repossession.
Filing bankruptcy ruins your credit: If you are considering bankruptcy, your credit has most likely suffered serious damage already. Filing bankruptcy is the first step on the road to rebuilding your credit and getting your financial situation back on track.
Married people have to file for bankruptcy jointly: Married people can file for bankruptcy individually, but it is important to understand how bankruptcy will impact the other spouse. It may make more sense to file jointly in some cases. I will offer careful advice based on your situation, so that you and your spouse can follow a path to debt relief that you are both comfortable with.
Schedule a Free Initial Consultation
My office is open weekdays from 8 a.m. to 5 p.m. and offers free parking. Contact me today at 856-324-6165 or toll free at 888-314-6433 for a free initial consultation with a Cherry Hill personal bankruptcy attorney. You can also contact me by e-mail.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
