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Michael McLaughlin LLC

Basking Ridge, New Jersey’s Leading Chapter 7 Bankruptcy Attorney

Are you facing overwhelming debt? Learn how to build a better financial future through chapter 7 bankruptcy!

Are you feeling stuck financially and wondering whether filing for bankruptcy might be your solution? Bankruptcy offers a wonderful opportunity to move forward if you are hindered by debt, but it can also be an arduous process. If you are considering bankruptcy, one of your first steps should involve finding a qualified chapter 7 bankruptcy attorney.

The Law Offices of Michael McLaughlin LLC is a bankruptcy law firm serving the Basking Ridge, NJ, community. We provide legal counsel and support to debtors, creditors, individuals, and businesses throughout the bankruptcy process.

With over 37 years of experience in bankruptcy law, primary attorney Michael McLaughlin has extensive knowledge of the subject of bankruptcy, combined with a his passion for helping clients. If you need chapter 7 bankruptcy lawyer assistance, Michael McLaughlin and his team have the skills and proficiency to help you reach your financial goals through bankruptcy debt relief.

Understanding The Basics Of Chapter 7 Bankruptcy

Chapter 7 bankruptcy, which is often called “liquidation bankruptcy,” is one of the most common types of bankruptcies. However, in the vast majority of cases, no assets of the Debtor are surrendered or liquidated because bankruptcy is designed to allow Debtors to retain assets that are exempt from the Trustee and creditorsor It is a remedy that is sought for in general circumstances for a “poor but honest “individual struggling with debt and seeking a fresh start.  In a chapter 7 bankruptcy, your assets subject to limitations may be retained.  You will still be responsible for some debts, such as child support and student loans or tax debt, as these cannot be discharged through bankruptcy.

The most significant advantage to chapter 7 bankruptcy is that, if you qualify for the relief based on your income and asset base your unsecured debts (usually credit card debt and loans) are discharged at the conclusion of the case.and achieved

A bankruptcy lawyer can help you determine if filing for chapter 7 bankruptcy might be the right next step for you. Reach out to Michael McLaughlin LLC to find out more information regarding our chapter 7 bankruptcy attorney services.

Schedule A Consultation | (908) 373-8500

What Is The Timeline For Chapter 7 Bankruptcy In New Jersey?

Chapter 7 Bankruptcy Lawyer, Basking Ridge, NJ

In New Jersey, the chapter 7 bankruptcy process generally takes between four and five months. However, depending on the factors of your case, it can take as long as six months or as short as three months. A bankruptcy lawyer consultation for chapter 7 can help you understand the qualifications for chapter 7 and how long your case may take.

What Are The Steps To File Chapter 7 Bankruptcy?

Bankruptcy can be a lengthy and complicated process, which is why it is essential that you have a knowledgeable chapter 7 bankruptcy attorney by your side. Some of the steps involved in a chapter 7 bankruptcy include the following:

  • Complete a required credit counseling course
  • File a petition with the bankruptcy court clerk’s office (for residents of Basking Ridge, NJ, in Somerset County, this would be the M.L. King Federal Building and Courthouse in Newark, NJ)
  • Send required financial documents (proof of income and tax returns) to your bankruptcy trustee
  • Attend and testify at the meeting of creditors
  • Complete a financial education course
  • Cooperate with the Chapter 7 Trustee as to the value of your real estate and other assets or the anticipated value of any personal injury case you may pursue

However, there are other important requirements you should take before you file, such as checking whether you qualify and gathering financial documentation and a complete list of all your creditors with proper mailing addresses and amouts owed. A chapter 7 bankruptcy lawyer can assist you with preparing for and filing your bankruptcy to simplify the process for you.

Schedule A Consultation | (908) 373-8500

How Will Chapter 7 Bankruptcy Affect My Credit?

Chapter 7 Bankruptcy Lawyer, Basking Ridge, NJ

One of the downsides to filing bankruptcy is that it can have a negative effect on your credit. It is possible for a chapter 7 bankruptcy to remain on your credit report for up to ten years. It could also make it difficult for you to obtain a mortgage, loan, or credit card, and could even impact your housing options when renting.

However, the peace of mind and fresh start that come with releasing your debt often outweigh the drawbacks of bankruptcy. In addition, it’s important to remember that there are many steps you can take to improve your credit even while the bankruptcy is listed in your credit report.

Find The Relief You Deserve With Chapter 7 Bankruptcy

Michael McLaughlin LLC | Basking Ridge, NJ

Are you stressed out by your mounting debt and uncertain of where to turn? Let the team at Michael McLaughlin LLC lead you to financial freedom through chapter 7 bankruptcy. With countless successful bankruptcy cases under our belt, we know what it takes to get your debts discharged with a chapter 7 bankruptcy.

Bankruptcy may seem daunting, but taking the first step means you are one step closer to easing your financial burdens and meeting your goals. Call Michael McLaughlin LLC at (908) 373-8500 to connect with an experienced chapter 7 bankruptcy attorney. Get started today on the path to living debt-free!

Schedule A Consultation | (908) 373-8500
Office Location

72 West End Avenue
Somerville, NJ 08876

Phone: (908) 373-8500

Fax: (908) 393-1864

Office Hours:
Monday - Friday
(9:00 am - 5:00 pm)
Saturday appointments
available upon request.

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