Newark Chapter 7 Bankruptcy Lawyer

Founded in 1666, Newark has experienced its share of transformations. A short drive from Manhattan, New Jersey’s most populated city remains a pivotal East Coast shipping, air, and rail transportation hub. The New Jersey Performing Arts Center (NJPAC) has brought Newark front and center in the entertainment world. Attracting major performers and committed to community involvement, NJPAC is a unifying force for the city.

With Newark’s economic resurgence and city revitalization, it can be easy to feel lost in the renewal process if you’re experiencing financial hardship. Struggling to make your payments and avoid creditor phone calls create a great deal of stress. Contact New Jersey bankruptcy attorney Jay L. Silverberg to discuss your options for regaining financial stability, such as the Chapter 7 bankruptcy process.

Contact Jersey City bankruptcy attorney, Jay L. Silverberg, and arrange a free consultation to discuss the options available for financial relief.

Chapter 7 Bankruptcy

While there are other bankruptcy filing options, Chapter 7 is by far the most common and least expensive route. In Chapter 7 bankruptcy, you may be able to liquidate your non-exempt assets to pay off debt. What’s left on the outstanding balance of your unsecured debts is usually discharged. Outstanding balances usually discharged through Chapter 7 bankruptcy include the following:

  • Credit cards
  • Most personal loans
  • Money owing on a repossessed vehicle
  • Medical bills

New Jersey Exemptions and Chapter 7 Bankruptcy

New Jersey is one state that allows you to choose either the state’s exemptions or federal exemptions. In many cases, choosing federal exemptions allows the debtor much greater latitude in retaining personal property than those allowed by New Jersey. The Silverberg Law Firm, LLC, can assist you in determining the best course of action for your unique circumstances.

An exemption simply means that the item is not included in the bankruptcy estate. You are allowed to keep property that is exempt. Within certain parameters, you may be allowed to keep the following property:

  • Vehicle
  • Home
  • Tools of the trade — work tools
  • Personal property

There is also a Wild Card exemption that allows you to keep an item of your choice up to a certain dollar amount. A knowledgeable New Jersey bankruptcy attorney can help you to get the most out of the allowable exemptions so you can keep as much of your property as possible.

Deciding between a Pro Se Bankruptcy Filing and Hiring a New Jersey Bankruptcy Attorney

​You may feel so overwhelmed with debt that you want to take the cheapest route available to a fresh financial start. While it may be tempting to file bankruptcy on your own, or pro se, it is to your benefit to rely on the expertise of a knowledgeable bankruptcy lawyer.

In fact, an experienced bankruptcy attorney can save you valuable time and money. Because the bankruptcy process is very specific and complicated, it’s not uncommon to file the wrong forms, miss important deadlines, or completely omit important information. Such costly mistakes require refilling, and in some instances, they may even incur fraud charges.

When you choose the Silverberg Law Firm, LLC, you receive the benefit of an experienced Newark bankruptcy attorney. With more than 30 years of successful representation of those seeking protection from creditor harassment and wage garnishment, Jay Silverberg offers the options you need to rebuild your financial footing.

Contact us to arrange a free, no-obligation initial consultation by calling 1-833-OWE-ZERO (1-833-693-9376) or complete our online form.

Request Your Free Consultation Today

Our firm proudly practices bankruptcy law and is considered a debt relief agency under federal law. We help people file for bankruptcy relief under the United States Bankruptcy Code.

Call: 1-201-252-7000


New York
(by appointment only)

New Jersey Address:
Silverberg Law Firm, LLC
2 University Plaza Dr,, Ste. 100 PMB 1026, University Plaza Dr, Hackensack, NJ 07601


Meeting Locations Available Throughout North NJ by appointment Only

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