Debt problems can quickly get out of hand. At Levine & Levine, we offer experienced, caring and dedicated legal representation to people who are facing serious financial troubles. We help clients in Morris County, Essex County, Union County and surrounding areas stop creditor harassment and get on top of their finances by filing a Chapter 7 bankruptcy or Chapter 13 bankruptcy.
To discuss your concerns in a free consultation with our Morris County debt discharge lawyer, call (973) 718-3999 or contact our bankruptcy law firm online today.
Chapter 7 bankruptcy eliminates most types of unsecured debt. However, the concept of secured debt and unsecured debt can be confusing. Simplified, the basic difference between secured debt and unsecured debt is that if you are unable to repay a secured debt, there is some form of property — a car, home or another asset — that can be taken away. Unsecured debt is not attached to any specific collateral.
While filing for Chapter 7 bankruptcy discharges certain debts, it does not discharge secured debt and does not compromise a creditor's secured interest. You can keep secured assets as long as you can continue to make car payments, mortgage payments or other applicable payments and properly exempt such assets using appropriate bankruptcy property exemptions (which enable you to claim certain property as exempt from liquidation). If, however, you cannot continue to make regular payments for the asset, the creditor can take legal action to repossess or foreclose on the asset.
When you work with Levine & Levine, you will learn firsthand the peace of mind that comes with having client-focused, attentive, responsive and caring representation. Our Morris County debt discharge attorney listens intently to your situation and your financial goals. We carefully review the unique aspects of your case, analyze your secured and unsecured debt, and make recommendations about the most effective debt relief solution, whether through Chapter 7 bankruptcy, Chapter 13 bankruptcy or a non-bankruptcy alternative.
If you have questions about secured and unsecured debt, or you want to discuss how we can help you get your finances back on track, contact our Florham Park law firm or call (973) 718-3999 to arrange your free initial consultation with a bankruptcy lawyer.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.