Straffi & Straffi Attorneys at Law | Bankruptcy Attorney›
There are two types of bankruptcy that are commonly available for individuals and businesses: Chapter 7, and Chapter 13 bankruptcy. In a Chapter 7 bankruptcy or more commonly referred to as liquidation bankruptcy, the court assigns a trustee to sell any nonexempt assets owned by the debtor to be used to repay all or some amount of debt. Meanwhile, a Chapter 13 bankruptcy, or a wage earner’s plan, refers to the reorganization of the debtor’s finances under the supervision of the court. If you are considering filing for bankruptcy, it is important to seek the advice of a skilled New Jersey bankruptcy attorney. At Straffi and Straffi Attorneys At Law, our team of New Jersey bankruptcy attorneys can help you explore your options and navigate the complicated process of petitioning for bankruptcy. Call us today for a free consultation.
