Subranni, Ostrove & Zauber has been practicing  New Jersey Bankruptcy Law for 35 years. If real experience counts when looking for New Jersey Bankruptcy lawyers....Look No Further.

New Jersey Bankruptcy heavily relies upon  Chapter 7 and Chapter 13 -- they work wonders. For example, under Chapter 7, all credit card debt, personal loans, income taxes (over three years old - see "Q & A"), car repossession deficiencies, and other types of debt are forever forgiven. And, all possessions including bank accounts, cars, pension and IRA plans (in all cases) and real estate are protected from creditors provided the value or equity falls within your "exemptions."  Call to discuss exemptions. If money is owed on a car, the debt can be reaffirmed and the payments continued as if no bankruptcy were ever filed regarding the car.

Chapter 13 is an even a more powerful tool. It forces a mortgage company to reinstate a mortgage and accept back payments over a period up to a 5 years. See the "Q & A" section for a discussion on DMV surcharges and income taxes.  Car payments can be stretched out and if the car loan is more than 2.5 years old, the payoff can be lowered to retail value considering the age and condition of the car.

Both of these options offer you a Fresh Start allowing you to fix your credit and re-establish yourself.

 Having financial problems?

Many people with financial problems live with and make many wrong financial and personal moves without first considering the bankruptcy alternative. Tom Subranni says this is a major mistake and he attributes it to the fact that people don't like to even hear the word "bankruptcy." That is unfortunate, but attitudes are changing. One out of every 100 families in the United States filed or will file bankruptcy this year. The stigma is no longer there. After two years, most debtors qualify for government insured mortgages if they otherwise qualify.  Credit card companies are even targeting debtors and offering credit, which, of course, should be refused. The idea is to learn to live within one's means, debt-free. Sleep comes a lot easier for those who live debt-free.

Tom says that many financially-strapped folks do not seek bankruptcy information soon enough, causing permanent financial and personal loss. For example, any kind of "re-financing," "debt consolidation," or "debt counseling" plan is not recommended. A Chapter 7 or Chapter 13 can take care of the problem without the need for that burdensome second mortgage (putting the house on the line), equity loan, credit balance transfers, and the like. And Tom absolutely recommends against borrowing from 401 (k) or other type of pension plan. A much better plan is to start over with the Bankruptcy "Fresh Start" and be the wiser by avoiding credit in the future.

You can speak with New Jersey bankruptcy lawyer Tom Subranni directly regarding your particular circumstances at 609-335-1882. It is possible for you to make a fresh start, save your home, stop wage deductions, fix your credit, stop creditors from harassing you and re-establish yourself. Call today.

  New Jersey Bankruptcy Articles

Bankruptcy articles are a great way to learn about bankruptcy law. We provide articles from other sources, as well as some of our own, dealing with some of the following issues:

• Credit Counseling Agencies (and what you need to know about them);

• Don't be a vulnerable consumer

  Have questions? We have the answers

With over 35 years of experience, you can rest assured that we know the bankruptcy laws of New Jersey. Our Q & A section is not typical, but full of current information that consumers need to know. Expect to see these issues covered:

• How bankruptcy affects the homeowner;

• How bankruptcy affects your bank accts;

• How will bankruptcy affect my pension?

• How to deal with bill collectors;

• Can I ever get a mortgage again?

• Life after bankruptcy;

• And much, much more.

  Our New Jersey Bankruptcy Team

NJ bankruptcy lawyer, Thomas Subranni, Esq. is the senior partner in the firm of Subranni Ostrove & Zauber. Mr. Subranni is a 1963 graduate of the University of Pennsylvania, AB; 1966 Vanderbilt University, JD; and New York University School of Law, LLM (in taxation). He is admitted to the New Jersey and Pennsylvania bar.
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NJ bankruptcy lawyer, Scott Zauber, Esq. is a partner with the law offices of Subranni, Ostrove & Zauber. Mr. Zauber is a proud graduate of Atlantic City High School, Richard Stockton College and Rutgers University School of Law-Camden.
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NJ bankruptcy lawyer, Nona Ostrove, Esq. is admitted to practice before the Federal District Court for the District of New Jersey, Eastern District of Pennsylvania, Third Circuit Court of Appeals and the U.S. Supreme Court.
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