Contact
(844) 562-3572
[email protected]
TextBack Number
+1 877-721-2590
Deliveries:
354 Eisenhower Parkway
Suite 1250
Livingston, NJ 07039
- Additional Office Locations
(844) 562-3572
[email protected]
TextBack Number
+1 877-721-2590
Deliveries:
354 Eisenhower Parkway
Suite 1250
Livingston, NJ 07039
Financial hardship can happen to anyone. A sudden medical expense, business downturn, job loss, or unforeseen crisis can leave even the most responsible individuals and business owners struggling to meet their obligations. When debts become overwhelming and traditional solutions such as negotiation with creditors or repayment plans are no longer viable, bankruptcy may offer a fresh start and a path to financial stability. But the bankruptcy process is complex, governed by federal law, and fraught with deadlines, rules, and long-term financial consequences. That is why working with an experienced Livingston bankruptcy lawyer is essential for anyone considering this option.
At The Law Office of Barry E. Janay (Lobej), we understand that the decision to file for bankruptcy is not made lightly. It is often the result of sustained financial stress and concern for one’s family, assets, and future. Bankruptcy law exists to provide relief, but the path through it requires careful planning, legal insight, and personalised strategy. There are multiple types of bankruptcy, each with its own eligibility requirements and implications, and choosing the wrong path can result in lost protections or unnecessary sacrifices. Whether you are an individual considering Chapter 7 or Chapter 13, or a business owner struggling with commercial debt, our firm provides clear evaluation and trusted representation to help you make informed decisions.
Bankruptcy is more than paperwork; it is a legal process that affects your credit, your financial rights, and your future opportunities. With the stakes so high, having a knowledgeable attorney by your side gives you confidence and clarity. As a dedicated Livingston bankruptcy lawyer, we help clients understand not only the legal requirements but also the practical consequences of filing for bankruptcy. We start by conducting a thorough review of your financial circumstances, including income, assets, debts, and long-term goals. From that assessment, we guide you toward the approach that best preserves your rights and maximises your financial outcome.
Bankruptcy is not a one-size-fits-all solution. Federal law provides several chapters under the U.S. Bankruptcy Code, each designed to address different financial situations. Choosing the right type of bankruptcy is central to achieving your goals, whether that goal is to eliminate unsecured debt, reorganise and keep essential assets, protect your home, or position your business for a fresh start.
One of the most common forms of bankruptcy for individuals is Chapter 7. Often called “liquidation bankruptcy,” Chapter 7 allows eligible filers to discharge most unsecured debts such as credit card balances, personal loans, medical bills, and utility obligations. Under this chapter, a bankruptcy trustee may sell nonexempt assets to pay creditors, but many filers can retain essential property through exemptions. The most valuable feature of Chapter 7 is the relatively quick timeline; many cases are completed in just a few months. However, not everyone qualifies. Eligibility is determined through the means test, which compares your income to the median income in New Jersey and evaluates your ability to repay debts. We help you determine whether you qualify for Chapter 7 and guide you through each filing requirement, ensuring accuracy and minimising the risk of dismissal.
Another important option is Chapter 13, often referred to as a “wage earner’s plan.” Under Chapter 13, debtors with regular income can reorganise their debts and repay them over a period of three to five years according to a court-approved repayment plan. Unlike Chapter 7, Chapter 13 allows filers to keep all their property, including homes and vehicles, and catch up on past-due mortgage payments while protecting assets. This makes Chapter 13 particularly valuable for homeowners seeking to avoid foreclosure. The repayment plan is crafted based on your income, expenses, and type of debt. A Livingston bankruptcy lawyer works closely with you to build a feasible plan that the court will approve, protecting your rights and financial interests throughout the process.
Filing for bankruptcy can feel overwhelming, but with an experienced Livingston bankruptcy lawyer by your side, the process becomes structured, clear, and manageable. We believe that informed clients make better decisions. That is why we take time to explain every step of the bankruptcy process, from filing to discharge, and what it means for your financial future.
The journey typically begins with a comprehensive consultation, during which we review your financial records, debts, assets, income, and goals. We discuss your financial history candidly, and without judgment, so that we can accurately assess your options. If you choose to move forward with bankruptcy, we help you gather all required documentation, including tax returns, pay stubs, account statements, and asset inventories. These documents form the backbone of your bankruptcy petition, and accuracy is critical to avoiding delays or legal complications.
Once your paperwork is prepared, we file your petition with the appropriate bankruptcy court. This filing triggers an automatic stay, a legal protection that immediately stops most creditor actions against you. The relief provided by the automatic stay can be transformative, calming creditor calls, halting foreclosures, and stopping wage garnishment, and provides breathing room to focus on recovery.
As your case progresses, you will attend a meeting of creditors, also known as a 341 hearing. Although the name may sound intimidating, this proceeding is typically brief and conducted in a non-adversarial manner. A trustee appointed by the court will ask questions about your financial situation under oath. Your attorney from Lobej will be present to guide you and ensure that the process unfolds smoothly. Understanding what to expect at this meeting alleviates anxiety and prepares you to answer basic questions confidently.
In Chapter 13 cases, you will work with Lobej to develop a repayment plan that reflects your financial capacity and meets legal requirements. The court must approve this plan before you begin making payments. Your attorney plays a vital role in negotiating terms with the trustee and ensuring that your plan is sustainable. Over the life of the plan, which typically lasts three to five years, you make regular payments through a trustee who distributes funds to creditors.
In a Chapter 7 case, following the 341 hearing and required counseling sessions, the bankruptcy court discharges qualifying debts, relieving you of personal liability. This discharge order is the legal document that releases you from the obligation to repay discharged debts. While not all debts may be dischargeable, such as certain tax obligations, student loans in most cases, and court-ordered child support, the vast majority of unsecured debts are typically eligible.
Bankruptcy is not the end of your financial journey; it is a new beginning. Discharge of debt provides a fresh start, but rebuilding your credit and financial health requires planning, patience, and informed decision-making. Lobej does not walk away when your case closes; we provide guidance on how to leverage your fresh start toward long-term stability and opportunity.
Rebuilding credit after bankruptcy begins with understanding how credit works and how lenders evaluate risk. It may seem counterintuitive, but responsible use of credit can accelerate your recovery. For many clients, opening a secured credit card or a small installment loan designed to rebuild credit is a powerful step forward. When used responsibly, that is, making timely payments and keeping balances low, these accounts demonstrate financial responsibility to future lenders and help your credit score improve over time.
Budgeting and financial planning are equally important. After bankruptcy, you may find new confidence in managing your money, but that confidence should be anchored in a sustainable plan. Lobej encourages clients to create realistic budgets that account for living expenses, savings goals, and future emergency planning. Understanding your cash flow and tracking your spending patterns empowers you to make better financial decisions and avoid falling back into unmanageable debt.
Bankruptcy also offers you the chance to reassess your relationship with credit. Many individuals and business owners emerge from bankruptcy with valuable insight into spending habits, risk tolerance, and financial priorities. Taking advantage of financial education resources, credit counseling, and planning tools can reinforce positive habits and support a more secure financial future.
For business owners who filed bankruptcy, the post-bankruptcy period often includes strategic planning for relaunching, restructuring, or scaling operations with a stronger financial foundation. Whether you are seeking financing, renegotiating contracts, or planning future investments, the lessons learned through the bankruptcy process equip you with a clearer understanding of risk and opportunity. We’ll remain available to provide legal insight that supports your business objectives beyond the bankruptcy filing itself.
The below conversational form is designed to help us better understand your needs and determine how we can assist you most effectively. Please answer the questions to the best of your ability.
Phone
(844) 562-3572
Email
[email protected]
Fax
(908) 379-8754
Primary Address
354 Eisenhower Parkway Suite 1250 Livingston, NJ 07039
New York Office
90 Broad St. 25th Floor, New York, NY 10004
Satellite Office
766 Shrewsbury Ave., Suite E-202 Tinton Falls, NJ 07724