Filing Chapter 13 Bankruptcy In New Jersey

Put succinctly, Chapter 13 bankruptcy allows people who are burdened with serious debt and have a steady residual income to repay debt according to their means.

In more than 35 years, the law offices of William H. Oliver, Jr. & Associates have assisted thousands in the Chapter 13 process. Please read below for a description of the Chapter 13 bankruptcy process.

The Chapter 13 Process

After filing a bankruptcy petition, the process begins. The petition contains information, including:

  • A statement, or schedule, of your assets and liabilities
  • Your current income and expenditures
  • Any contracts and unexpired leases
  • A statement of your financial affairs

An integral part of the filing is the "Chapter 13 plan." In it is delineated the amount you propose to pay priority creditors. Because we have helped draft hundreds of Chapter 13 plans, we are able to work directly with you to draft a plan that serves your unique circumstances. After filing, an automatic stay goes into effect. This prevents all creditors for taking action against you. In addition, a Chapter 13 trustee will oversee a confirmation hearing that is essentially a meeting of creditors. This process confirms your plan, and a court hearing in front of a bankruptcy judge may be included. The trustee will look over your petition, receive any payments and distribute them to the appropriate creditors.

The creditor meeting is held 45 days after filing the petition. The meeting allows you to answer inquiries about your financial affairs delineated in your payment plan. Our attorney and team will assist you in every possible way. If the trustee decides that your payment plan is unacceptable, a hearing in front of the U.S. Bankruptcy Court will be set.

We have helped hundreds of clients in these confirmation hearings and will bring our expertise to help you reach an ideal outcome.

To schedule a free initial consultation with our Monmouth County, New Jersey, Chapter 13 bankruptcy lawyers, call toll free: 866-974-1136 or fill out our contact form. Hablamos español.

The law offices of William H. Oliver, Jr. & Associates is a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.