Bankruptcy in Passaic County, New Jersey
Filing for bankruptcy can be a hard decision for an individual or a business owner, but it could be the answer to relieving your financial burdens and stresses. Bankruptcy can eliminate deb by liquidating your assets or can help you get ahead by restructuring your current debt.
Individuals and businesses facing financial challenges may be eligible to file for bankruptcy under Chapter 7, Chapter 11 or Chapter 13 of the US Bankruptcy Code. Here’s what you need to know if you want to file for bankruptcy in Passaic County:
Passaic County sits near the north edge of New Jersey. The county is made up of a diverse group of people both ethnically and economically. The estimated population as of July 2019 is 936,692, which includes both urban and rural parts of the county.
Some of the largest municipalities within Passaic County include:
Filing For Bankruptcy In Passaic County
In 2018, there were 1,499 individuals and 40 businesses who filed for bankruptcy in Passaic County, with the majority of those being Chapter 7.
If you are looking to file bankruptcy in Passaic County, your case must be filed with the US Bankruptcy Court located in Newark. However, before you can begin the process you should determine the type of bankruptcy that best suits your situation and will yield the best result for you. There are a number of factors including the amount and types of debts you owe, as well as your income.
Once you have filed, a judge will determine the outcome of your case. They will also decide on the specifics, such as what debts if any you will have to pay back and the time frame you have to pay them.
Having the guidance of a bankruptcy attorney can help you determine the best strategy for your bankruptcy case.
At Silverberg Law Firm, we understand the burden of excessive financial obligations and want to help you get the relief you deserve. We are here to help you through every step of the New Jersey bankruptcy court process. You can stop by our office at 550 Kinderkamack Road, Oradell, NJ 07649, or for your convenience, we also offer a satellite meeting location on Riverview Drive in Totowa, NJ by appointment only. Contact us to schedule your appointment today.
Meeting Locations Available Throughout North NJ by appointment Only