Personal bankruptcy in New Jersey is a good choice for many

Readers in New Jersey know well that financial difficulties can come to people regardless of their career aspirations or social status. That is why they may find the recent personal bankruptcy of a woman seeking political office in another state interesting. The woman hopes to win a seat as a City Clerk in her hometown. She is said to have tried to gain political office several times over the past few years.

A personal bankruptcy in New Jersey often helps people protect assets that they own from creditors. In addition, a filing can limit the efforts of those creditors to collect. This includes a stay on foreclosures and the stoppage of phone calls and emails form collection agents. Such stoppages offers those in financial distress to be free from many of the stresses caused by creditors.

In the recent case, a personal bankruptcy was filed last summer. In that case, the woman asserted to the court that she had more than $626,000 in debts. The debts included a home that was worth significantly less than what she owed and $42,000 in credit card debts.

When people find that they are unable to repay the debts that they have accumulated, they often look for solutions. A personal bankruptcy is most often a good choice because of the ability of individuals to discharge many, if not all, of their debts. The discharge means that people can begin to focus on building businesses and new careers rather than having to struggle to repay debts that came to them, often due to financial stresses like job loss that happened through no fault of their own.

Source: Detroit Free Press, City clerk candidate says personal bankruptcy won't affect ability to do the job, Joe Guillen, Sept. 17, 2013

No Comments

Leave a comment
Comment Information
EMAIL US FOR A RESPONSE

Get Our Help Today

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Office Locations

Cherry Hill Office
1060 North Kings Highway,Suite 333
Cherry Hill, NJ 08034

Toll Free: 800-759-0767
Phone: 856-254-2196
Fax: 856-414-1230
Map & Directions

Philadelphia Office
Suite 1505
1515 Market Street
Philadelphia, PA 19102

Toll Free: 800-759-0767
Phone: 215-928-9199
Map & Directions

Willingboro Office
200 Campbell Drive
Suite 103F
Willingboro, NJ 08046.

Toll Free: 800-759-0767
Phone: 856-254-2196
Map & Directions

Philadelphia Office
7909 Bustleton Avenue
Philadelphia, PA 19152

Toll Free: 800-759-0767
Phone: 215-928-9199
Map & Directions