A structured reset when debt is no longer manageable—and a plan to protect what matters.
About Bankruptcy Law
Applications for bankruptcies are reaching levels not seen since the 2008-2009 financial crisis, and there are few signs that market conditions are improving. Further, as student loan discharges are on the rise, there are more opportunities than ever to get a fresh start. Turn to an attorney who has helped many people get financial second chance.
How We Can Help you
Aaron Harmaty’s practice involves assisting families and individuals in Chapter 7 and Chapter 13 bankruptcies. After a consultation, you should have an idea of whether a bankruptcy is right for you and your family. If it is, we will provide you with a form which will list all the information we need to properly, and safely file your bankruptcy.
How Bankruptcy Can Help You
- Stops collection efforts against you.
- Allows you to discharge or restructure your debts.
- Gives you an opportunity to build good credit.
What Is The Difference Between A Chapter 7 & Chapter 13 Bankruptcy?
Whether one files a chapter 7 bankruptcy or a chapter 13 bankruptcy is dependent is dependent on the income and assets of the potential filer. If a potential filer makes below the income level, then they have chapter 7 available to them. If not, then they will be in a chapter 13 analysis.
A chapter 7 bankruptcy is a liquidation bankruptcy, and it is what most people think of when they hear bankruptcy. The principle behind it is that assets are liquidated, and debts are discharged. However, there are numerous statutory protections which might greatly reduce or eliminate the need for liquidation, while also securing a discharge of the filer’s debts.
A chapter 13 bankruptcy is a consolidation bankruptcy, and it is our recommendation for individuals and families who own property. The principle is that all the debts are put into a “pot,” and by income over the total expenses an individual or family possesses, pays down the debt in that pot over the course of three to five years.
Free Consultation
If you're considering bankruptcy, let’s talk through your options.
This site provides general information and does not create an attorney-client relationship.
Tel: 973-309-5492
Email: aaron@harmatylaw.com
Address:
21 Van Doren Ave, Chatham, NJ 07928
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