New Jersey Chapter 7 Bankruptcy Lawyer - Daniel Straffi

From Straffi & Straffi Attorneys at Law — New Jersey Chapter 7 Bankruptcy Lawyer dives deep into the world of Chapter 7 bankruptcy in New Jersey, exploring what it means, how it works, and why someone might choose this path to financial relief. This episode translates complex legal concepts into accessible insights, unpacking the process from qualification to discharge.

In the first segment, we break down the means test—how comparing your income against state medians and deducting allowable expenses determines eligibility for Chapter 7. We also cover how the credit counseling requirement plays into the filing timeline. From there, we walk you through the Chapter 7 process step by step: preparing your documentation, filing, meeting with creditors (the “341 Meeting”), and the role played by the bankruptcy trustee.

Next, we discuss asset exemptions—how in New Jersey you may choose between state exemptions or federal exemptions (but not both), and which kinds of property are protected (or not). We also examine which debts are dischargeable (such as credit cards, medical bills, personal loans) and which are typically non-dischargeable (student loans, recent tax debts, alimony, child support, etc.). We weigh the advantages and disadvantages of Chapter 7: speed, debt relief, credit impact, and asset risks.

Finally, we reflect on why hiring a local New Jersey Chapter 7 bankruptcy lawyer matters—due to their knowledge of state law, court procedures, trustee relationships, and exempting strategies—and offer guidance on taking that first step. You’ll come away with clarity, confidence, and an informed perspective on whether Chapter 7 is right for your financial situation.

Straffi & Straffi Attorneys at Law

670 Commons Way, Toms River, NJ 08755, United States

(732) 341-3800

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