31 Aug 2010 05:19 pm
William L. Pegg, Jr. is an Attorney with over 36 years experience located in Morristown, New Jersey.
Contact us today for a free consultation!
Should I be filing Bankruptcy?
Bankruptcy Court can sound pretty intimidating but don’t let that discourage you from learning more about how this legal process works and how it was designed to protect individuals like yourself. Did you know that your Credit Score could actually improve after filling for Bankruptcy?
Do I qualify?, what are the good and bad consequences of filing? What will it costs? Will I loose my home and belongings?
By visiting us at our Morristown law office you will receive honest and experienced advice specific to your unique economic situation, we are dedicated to providing our clients with a level of knowledge and understanding specific to them and to fully discuss all the legal remedies available via bankruptcy law and sound economic planning. Mr.Pegg will take the time to review your financial situation, thoroughly assess your debts and assets and answer your questions to determine whether bankruptcy is the right choice for you.
Start living today with a clean credit record. Contact us for a free consultation and speak with an experienced bankruptcy lawyer. Whether you live in Morristown, Morris County, or Northern New Jersey our law firm will meet with you and help you retain your business, your home, car, and assets despite the insurmountable debts, medical bills or threats of foreclosure you may have to your home. You don’t need to sign away your credit to dubious Credit Card Consolidation scams or default on your payments, there is a legal way to continue living debt free and start again with your feet firmly planted on level ground.
Lets take a closer look at Chapter 7 and Chapter 13 bankruptcy information..
Chapter 7 bankruptcy is a legal option for individuals who have debts which are too large to pay within a reasonable time frame. Insurmountable Medical bills or out of control credit card payments are the two most common culprits. Filing for Bankruptcy, specifically Chapter 7, will eliminate most debts from your record permanently, with some exceptions such as Student Loans. Do NOT go on a spending spree prior to filling for personal Bankruptcy court as your expenses will be reviewed prior to the discharge by the creditors.
If you or your company control a large amount of assets or are seeking a way to avoid mortgage foreclosure, filing for Chapter 13 Bankruptcy might be a good alternative. A Chapter 13 Bankruptcy filing will allow you to restructure outstanding debts in such a way where the interest and monthly payments will be fair and possible to fulfill over time. It wont wipe your debts clean like a Chapter 7 discharge but rather “negotiate” a fair payment plan with a bankruptcy lawyer representing you and moderating the exchange. This is also the option available when your yearly income is above the limit to qualify for a chapter 7 bankruptcy discharge. If you make over the median annual income of the State of New Jersey (roughly $50,000 a year) Chapter 13 may be your only alternative to a default.
But do I really need an Attorney?
We certainly think so! It is common knowledge that there are thousands of State and Federal laws regarding personal debt which are constantly being revised; In matters where knowledge of the law can be the difference between keeping or loosing your hard earned property its important you consult with an experienced professional who helps people in your situation day in and day out. Mr. Pegg has been personally handling all his cases for the past 36 years. Weather all you need is sound legal and economic advise, to renegotiate your debts or to wipe them all clean by successfully filing for Bankruptcy our law firm is here to help you with ethical and straight forward advice.
Contact us to schedule a Free Consultation during regular business hours or Evening and weekends as well by appointment. Credit terms are available. Se habla Español!
We are conveniently located in Downtown Morristown, New Jersey. We have private parking behind the office and are easily accessed via Bus or Train.
133 Washington Street. Morristown, NJ 07960.
[Directions to our Morristown Law Firm]
Serving all of New Jersey especially Morristown, Summit, Chatham, Dover, Madison, Parsippany, Whippany and all locations in Essex County, Morris County, Union County, and Sussex County. Give us a call!
Have you read The Perils of Bankruptcy Avoidance?
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- Bankruptcy Lawyer – Why Do You Need One?
- WHAT IS BANKRUPTCY? A quick guide from a Morristown, New Jersey Attorney.
- Is Filing For Bankruptcy in New Jersey Difficult? Is It For Me?
- Bankruptcy Filings spiked 9% Last Year.
- A Focus on the needs of our clients. Morristown Attorney at Law.
