Chapter 13 Bankruptcy: New Jersey Attorney

Save Your Home and Other Valuable Assets

Financial stress burdens members of every income bracket. You may be a homeowner with a stable job but simply cannot manage the overwhelming debts that you and your family face. If you own a home or do not qualify for Chapter 7, you may be able to seek debt relief through a Chapter 13 bankruptcy filing.

Chapter 13 allows you to reduce or eliminate debt while protecting certain assets such as your business or your home. Contact Albert L. Lancellotti, LLC for more information and a free consultation on how a Chapter 13 can work for you.

What is a Chapter 13 bankruptcy?

Chapter 13 is most commonly filed by homeowners who are behind with their mortgage or property tax payments. It is also protects assets that would otherwise be involuntarily sold in a Chapter 7 proceeding.

What does filing Chapter 13 accomplish?

Chapter 13 will put a stop to the foreclosure process and prevents your property from being sold at sheriff's sale. After a Chapter 13 is filed, you will be able to:

• Keep your home
• Stop foreclosure
• Reduce or eliminate debt obligations
• Stop creditor harassment

Chapter 13 allows you between three and five years to pay off mortgage and property tax delinquencies, along with other secured obligations. You are given a certain period of time in which to refinance your home to pay off existing mortgages and other liens. You may also be able to sell your home at its peak value. Depending on the equity in your property and your disposable income, in many cases Chapter 13 allows you to eliminate most of your unsecured debts, such as credit cards, personal loans and medical bills.

Contact a bankruptcy lawyer today for a free consultation to learn more about your options in debt relief and bankruptcy options. Our Newark, New Jersey bankruptcy firm will aggressively assert your rights.

Albert L. Lancellotti, LLC

Newark Office
17 Academy Street, Suite 707
Newark, NJ 07102
Telephone: 973-273-9880
Fax: 973-273-9838

Passaic County Office
130 Skyline Drive
Ringwood, NJ 07456
Toll-Free: 1-877-273-7300

Albert L. Lancellotti, LLC has offices in Newark, New Jersey and Ringwood, New Jersey and serves clients throughout Bergen County, Essex County, Hudson County, Middlesex County, Monmouth County, Passaic County, Sussex County, and Union County, including Newark, NJ, Elizabeth, NJ, and Morristown, NJ, and throughout Jersey City.