Camden County Bankruptcy

Camden County Bankruptcy Lawyer, Laura J. Neville

The Neville Law Firm with a second location in Cherry Hill, NJ in Camden County has a practice focus on bankruptcy, consumer protection, debt settlement, collection litigation, and creditor’s rights. The firm represents individual and business clients in state and federal courts throughout the state of New Jersey and in Eastern Pennsylvania.

Ms. Neville concentrates on the two types of bankruptcy most commonly filed by consumer debtors — “Chapter 7” Bankruptcy and “Chapter 13” Bankruptcy. Whether to file under one Chapter or the other depends upon several factors, including your current income, the value of your assets, and your goals in filing a bankruptcy petition.

There is much to consider in determining whether Chapter 7 or Chapter 13 filing is appropriate for you. For example, a Chapter 7 debtor must pass the “means test.” This test is designed to ensure that there is no abuse of the bankruptcy process by determining whether an individual contemplating filing a Chapter 7 petition has enough income to fund a feasible Chapter 13 plan and repay some of his unsecured creditors. Thus, your income may determine whether Chapter 7 or Chapter 13 is appropriate, but consider also that filing under Chapter 13 has some advantages depending upon your individual situation. For example, if you are behind on your loan or lease or mortgage payments, the “curing” of those arrears can take place over time through your Chapter 13 plan. If your property is subject to foreclosure, bankruptcy can give you options to cure the mortgage arrears over time or surrender the property and be discharged of any account deficiency. (Please see the article Foreclosure and Bankruptcy for more information.) Also, some secured creditors are subject to “cram down” whereby you can pay market value of the collateral, rather than what you owe on the loan secured by that collateral. (Please see the article Keep your car and lower your payment with Chapter 13 “cram down” for more information.) If you own your home but are “under water,” or “upside down” – meaning that what you owe on your home exceeds the current market value of the home, then under certain circumstances you may be able to “strip off” a second mortgage and that debt will be discharged as unsecured. These options will be discussed at your consultation.

Bookmark this site to stay updated on bankruptcy matters such as foreclosure, creditor’s rights, mortgage modification and debt settlement as we frequently blog on these issues.

The most important step at this point is to meet with me at our Camden County NJ office to discuss these and other options to determine which would be best for your individual situation. Call us at 609-901-6161 to schedule an appointment, or simply fill out the Contact Form located at the right of this and every page of our site. We look forward to hearing from you and working toward your Fresh Start.

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Office Locations

Burlington County
10 North Chestnut Ave
Maple Shade, NJ 08052

Camden County
1812 Berlin Rd
Cherry Hill, NJ 08003

Office Hours by Appointment Only

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