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Chapter 13 and Chapter 7 proceedings for residents of Toms River

The decision of whether to enter into bankruptcy proceedings is a difficult one to make, but with the help of an experienced New Jersey bankruptcy attorney, Toms River residents can evaluate whether or not bankruptcy is right for them from both a legal and financial perspective. When your situation is evaluated by a qualified attorney like this, the answer of whether you should proceed with bankruptcy tends to be exceedingly clear.

Once you have decided on bankruptcy, though, one of the most important decisions to make is whether you should proceed with Chapter 7 or Chapter 13 bankruptcy. Chapter 7 involves liquidating (or selling off) certain assets and possessions in order to pay back debtors as much money as possible. Chapter 13 involves a court-approved payment plan that debtors use to pay off their debts on a regular monthly basis. Both of these bankruptcy strategies have their advantages and disadvantages and based on your situation, it will be clear which one is right for you.

With both types of bankruptcy -- debtors will not pay off all of their debts financially, but they will be able to resolve their debts covered by the process. This is a beautiful gift because it allows debtors to restart their financial lives again after years of financial difficulty and economic turmoil.

Toms River residents who are curious about whether bankruptcy is right for them may wish to speak with a qualified bankruptcy attorney at William H. Oliver, Jr. & Associates. Our staff is available to discuss the particulars of your unique debt situation and offer you legal advice about your best next steps and legal rights.

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At the law offices of William H. Oliver, Jr. & Associates in Toms River and Lakewood, New Jersey, we represent clients in Toms River, Neptune, Trenton, Middletown, Red Bank, Wall, Lakewood, Lakehurst, Manchester, Asbury Park, Old Bridge, Jamesburg, Barnegat, Forked River, Manahawkin, Ocean Township, Brick, Manasquan, Howell, Freehold, Hazlet, Bradley Beach, Brown Mills, Long Branch, Keansburg, Marlboro, Bayville, Beachwood, Whiting, Sayreville, South River, East Brunswick, Monmouth County, Ocean County, Middlesex County, Burlington County and Mercer County.