Bankruptcy

Begin Your Fresh Start

Step 1 of 2
  • Please enter your first name.
  • Please enter your last name.
  • Please enter your email address.
    This isn't a valid email address.
  • Please enter your phone number.
    This isn't a valid phone number.
Next Step
Step 2 of 2
  • Please make a selection.
  • Please enter a message.
By submitting, you agree to be contacted about your request & other information using automated technology. Message frequency varies. Msg & data rates may apply. Text STOP to cancel. Acceptable Use Policy

Bankruptcy & Debt Relief Options in New Jersey

Bankruptcy Services in Morris County and Surrounding Area

Bankruptcy laws were written to help individuals and businesses resolve serious financial situations. Many of the people we meet at Ast & Schmidt, P.C. are struggling with high credit card balances, medical bills, and underwater mortgages. They come to us in desperation and with very little hope. They are afraid there may be no way out of their stressful financial position.

Benefits of Bankruptcy

If you are considering filing for bankruptcy, we can take the time to explain the process, what to expect, and all the pros and cons. We can assess your current financial problems and determine whether filing for bankruptcy is the best option for you. Bankruptcy offers powerful advantages—one of which is called an “automatic stay.” It is an injunction that stops creditors from contacting you to collect on a debt. This starts as soon as your bankruptcy petition is filed. No more phone calls, letters, or threats.

Commonly Asked Questions

What are the primary benefits of filing for bankruptcy in New Jersey?

Filing for bankruptcy in New Jersey can provide several significant benefits. One of the most immediate advantages is the automatic stay, which halts all creditor actions against you, including phone calls, letters, and legal actions. This can provide much-needed relief from the stress of constant creditor harassment. Additionally, bankruptcy can help you discharge or reorganize your debts, giving you a fresh financial start. It can also stop foreclosure on your home, prevent repossession of your car, and even halt wage garnishments.

How does the automatic stay work when I file for bankruptcy?

The automatic stay is a powerful feature of bankruptcy law that takes effect as soon as you file your bankruptcy petition. It acts as a legal injunction that stops creditors from taking any further action to collect debts from you. This means no more phone calls, letters, or legal threats. The automatic stay can provide immediate relief and give you the breathing room you need to reorganize your finances or work through the bankruptcy process without the constant pressure from creditors.

Understanding Bankruptcy Options in Morris County, NJ

Living in Morris County, you may find yourself facing unique financial challenges, from the high cost of living to unexpected medical expenses. Local resources, such as the Morris County Department of Human Services, can provide assistance for those struggling with financial hardships. However, when debts become overwhelming, filing for bankruptcy or considering other debt-relief options may be the most effective solution to regain control of your finances.

Residents of towns like Denville, Morristown, and other cities can often deal with the stress of mounting credit card debt and mortgage issues. The fear of losing your home or vehicle can be paralyzing, but understanding your options is crucial. Filing for bankruptcy can offer a fresh start, allowing you to discharge debts and stop foreclosure proceedings. The automatic stay that comes with filing can provide immediate relief from creditor harassment, giving you the time needed to navigate your financial situation without the constant pressure of phone calls and letters.

Additionally, local government entities, such as the Morris County Bar Association, can provide resources to help you understand the bankruptcy process. Furthermore, it is also important to consult with an experienced attorney. They can guide you through the necessary steps and educate you about your rights as a debtor in New Jersey. By taking advantage of these resources, you can make informed decisions about your financial future and find the best path forward.

 Continue Reading Read Less

Our Services

What Sets Us Apart

How We Can Help You Move Forward
  • Personalized Services Tailored for You
  • Over 25 Years of Bankruptcy Experience
  • Free Initial Consultations
  • Available After Hours by Appointment
  • Direct Advice from Our Attorneys
  • Realistic Expectations Provided

Experienced, Honest, and Focused on You 

Our firm has practiced bankruptcy law for decades. Because we offer client-focused service, you will be working with an attorney—not an assistant or paralegal. One of our bankruptcy lawyers will evaluate your financial situation and guide you to the right decision about filing for bankruptcy.

We may help you file one of the following options:

  • Chapter 7 bankruptcy: This form of bankruptcy is often called “liquidation bankruptcy” or “straight bankruptcy.” Any assets that are not exempt will be sold, and the proceeds will go to your creditors. Many people benefit from this chapter because they own few to no assets before filing. Furthermore, you will most likely not lose your vehicle (up to a specific value), personal possessions, pension funds, or a certain level of equity in your home. The possessions you will have to give up may include valuable family heirlooms, a second vehicle, a vacation home, valuable works of art, and investment accounts.
  • Chapter 13 bankruptcy: This type of bankruptcy is a process in which the court appoints a trustee to reorganize your debt and oversee your 3-5-year repayment plan. This form of bankruptcy, also called a “wage earner’s plan,” is often appropriate for those who have a steady job and a regular income.

Get the Bankruptcy Help you Deserve

Take the first step toward a more secure financial future and get the information you need to resolve overwhelming debt.

Contact our firm at (973) 363-2260 to schedule an appointment today.

    "Both Antoinette and Robert were very knowledgeable always got back to me right away with the answer."
    Robert Schmidt helped me through a difficult situation I was going through. Antoinette answer all my questions she kept me an informed what was going on in my case. Both Antoinette and Robert were very knowledgeable always got back to me right away with th
    - June T.
    "I highly recommend Robert L. Schmidt, Esq. and his legal assistant Antoinette at Ast & Schmidt, P.C. to anyone who needs a skilled and supportive legal team."
    I had an excellent experience working with Robert L. Schmidt, Esq. of Ast & Schmidt, P.C. He guided me through my case with professionalism, patience, and compassion. From the very beginning, he explained everything clearly and made sure I understood e
    - Latoya W.
    "I can’t thank them enough for all the help and guidance through a process that felt daunting and shameful."
    I reached out to Ast and Schmidt at one of the darkest times of my life and was met with kindness and grace. With the help of Robert and Antionette, every question I had was answered, late night texts were replied to, even when I wasn’t expecting an
    - Lisa D.
    "I highly recommend AST & Schmidt, P.C. to anyone seeking experienced and reliable legal representation."

    I am extremely pleased with the legal services provided by AST & Schmidt, P.C. The entire team demonstrated a high level of professionalism and dedication throughout my case. My attorney was exceptionally knowledgeable and effective, and I felt well

    - Ghabriell A.
    "They will go above and beyond for you and keep you informed through the entire process."
    Ast & Schmidt, P.C. is by far one of the best law firms in the country. My experience with Antoinette and Robert could not have been better. They will go above and beyond for you and keep you informed through the entire process. They will give you the
    - E.T.
    "I felt so comfortable asking questions because I would get immediate responses and reassurances."
    My family and I were going through such a rough time. Antoinette and my attorney Robert Schmidt were absolutely AMAZING. They were both so understanding and best of all non-judgmental towards my situation. I felt so comfortable asking questions because I w
    - Marisol A.
    "..Thank you Ast and Schmidt for all that you do!"
    I have personally used Ast & Schmidt and have recommended them to friends and family members as well. Robert and Antoinette are always responsive, timely, and available to go over any questions or concerns I might have in what could be an otherwise stressful process. I can confidently say that I 100 percent trust Robert's guidance and quality of work. He and the staff go above and beyond to make sure I understand all of my options as well as the process from beginning to end. Antoinette always makes me feel comfortable when I call with questions and Robert's guidance and services have truly been a blessing in helping me transition out of some rough times so that I could move forward in my personal and professional endeavors. I can not recommend this firm highly enough. You will be well taken care of. Thank you Ast and Schmidt for all that you do!
    - Rena Z.
    "Throughout our experience with Ast & Schmidt, my husband and I were treated with the utmost respect and compassion."
    Throughout our experience with Ast & Schmidt, my husband and I were treated with the utmost respect and compassion. Whenever there was a question (even during COVID), Rob Schmidt was most accessible and helpful to us during this difficult time. We would recommend them to anybody who is undergoing financial challenges. Everyone associated with the company is attentive and a pleasure to deal with, even regarding the most trivial matters. Certainly, when addressing the complicated issues that arise during legal proceedings, Ast & Schmidt provides seamless and impeccable attention to every detail.
    - Iris G.
Ready to Start Your Debt-Free Journey?
Let Our Experienced Team Guide You Through Bankruptcy. With over 25 years of experience, we can help start your journey today. Contact us for a Consultation!
Start Fresh Now