William H. Oliver, Jr. & Associates

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Take control of overwhelming credit card debt

Credit cards are an important part of how many people make ends meet from one paycheck to another. These credit accounts aren't a huge deal unless the balances get out of control. This is something that can be devastating to your finances.

We understand that things happen that make it difficult or impossible to make credit card bill payments on time. In fact, these bills usually have to take a backseat to the mortgage, car payments and utility bills. This is fully understandable, but it can mean that your credit takes a hit if you are unable to pay the credit card bills.

One option that you have to deal with credit card debt is to file for bankruptcy. Depending on the type of bankruptcy that you file, it is possible that you won't have to pay the credit card debt off at all.

We can help you to evaluate the types of bankruptcy that might apply to your case. Whether you meet the requirements of the means test and can file Chapter 7 or if you make enough money to file for Chapter 13, we can help you.

In a Chapter 13 bankruptcy, you will make payments to the bankruptcy trustee. These payments are made on a set schedule and creditors receive money from these payments based on a preset formula. If you make all of the payments, your bankruptcy is discharged.

In a Chapter 7 bankruptcy, your assets are liquidated to pay your creditors. Whatever debts can't be paid by these assets are discharged.

We know that this is a frightening time for you. We can help you to work through the options that you have so you can decide what you are going to do to take control of your credit card debt.

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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.