Passaic County Bankruptcy Lawyer

Financial difficulties can feel overwhelming, but you don’t have to face them alone. If you’re struggling with debt, constant creditor harassment, or the threat of foreclosure, bankruptcy may provide the relief you need. Contact a skilled Passaic County bankruptcy lawyer from the Law Offices of August R. Soltis for an initial consultation today.

Chapter 7 Bankruptcy Vs. Chapter 13 Bankruptcy

Bankruptcy is a legal process designed to help people and businesses eliminate or restructure their debts when repayment becomes impossible. It is not a punishment—it’s a tool that can help you reset your finances and move forward. The most common types of bankruptcy for individuals and small businesses are Chapter 7 and Chapter 13 bankruptcy.

Chapter 7 Bankruptcy

Often called “liquidation bankruptcy,” Chapter 7 allows you to discharge most unsecured debts, including:

• Credit card balances
• Medical bills
• Personal loans
• Certain tax debts (under specific conditions)

For many people, Chapter 7 is the fastest and most effective way to wipe out debt. However, not everyone qualifies. To be eligible, you must pass the means test, which examines your income and expenses to determine whether you have the ability to repay creditors. Even if you qualify, it’s crucial to understand that certain debts—such as student loans, child support, and some tax obligations—cannot be discharged in a Chapter 7 case.

Chapter 13 Bankruptcy

Unlike Chapter 7, Chapter 13 bankruptcy is designed for individuals with a steady income who can repay a portion of their debts over time. Rather than eliminating debts outright, Chapter 13 restructures them into a manageable three- to five-year repayment plan approved by the bankruptcy court.

This type of bankruptcy is ideal for those who:

• Want to prevent foreclosure and keep their home
• Need to catch up on car payments or other secured debts
• Earn too much to qualify for Chapter 7 but still need financial relief

Once you complete your Chapter 13 repayment plan, any remaining eligible debts may be discharged, giving you a clean slate.

How Bankruptcy Can Help You

Filing for bankruptcy provides more than just debt relief—it grants immediate protection from creditors through the automatic stay. This powerful legal provision halts foreclosure proceedings, wage garnishments, repossessions, and collection calls as soon as your case is filed. Creditors can no longer harass you, and you’ll have breathing room to work toward a resolution.

Additionally, bankruptcy allows you to:

• Protect exempt assets such as your home, car, and retirement savings (depending on state laws)
• Rebuild your credit over time by eliminating unmanageable debt
• Reduce financial stress and focus on your future rather than past obligations

Why You Should Never File for Bankruptcy Without a Lawyer

Bankruptcy law is complex, and filing without professional legal guidance can lead to costly mistakes. Errors in paperwork, missing deadlines, or failing to disclose assets could result in your case being dismissed—or worse, you could lose property you might have otherwise kept.

At the Law Offices of August R. Soltis, we ensure your bankruptcy case is handled correctly from start to finish. We will:

• Evaluate your financial situation to determine the best bankruptcy option for you
• Ensure you maximize exemptions to protect as much of your property as possible
• Handle all paperwork, deadlines, and court proceedings
• Defend against creditor challenges and protect your rights
• Guide you through life after bankruptcy, helping you rebuild credit and financial stability

Contact a New Jersey Bankruptcy Lawyer

If debt has taken over your life, you deserve a fresh start. Don’t wait—take the first step toward a debt-free future. Contact a New Jersey bankruptcy lawyer from the Law Offices of August R. Soltis today for a confidential consultation.