Both the state of New Jersey and the federal government provide a list of exemptions that you may use in retaining your property under a Chapter 7. These two sets of exemptions each have their own advantages and disadvantages which can be applied to the specifics of your financial situation. These exemptions can include those for a part of the equity in your home, your car, for all household goods, public benefits, trusts, pensions, retirement plans, and profit-sharing plans. Our firm can help you determine how exemptions will work for you according to your particular situation.
Not all debts can be discharged in a Chapter 7 bankruptcy. Those that are generally non-dischargeable include the following:
- Child support payments
- Alimony payments
- Student loans
- Personal injury or wrongful death awards owed due to driving while intoxicated
- Certain tax debts
- Fines and penalties for criminal violations and traffic tickets
- Fraudulent debts
Get Proven Legal Representation at Cerbone Law Firm
To fully understand how the Chapter 7 process will work in the framework of your case, you will need to consult with our Wall, NJ Chapter 7 bankruptcy attorney. Every case is different and the above describes only the general outlines of the process. Our firm is here to answer your questions, address your concerns, and guide you through the process from start to finish. We have successfully resolved more than 10,000 bankruptcy cases with a 99 percent client satisfaction rate. We provide competent and compassionate representation at reasonable rates with options for saving your home.