Ast & Schmidt, P.C.
We Focus Exclusively On Protecting Your Rights In Bankruptcy And Foreclosure. Call Us In Morristown Today.
Email 973-984-1300

November 2019 Archives

You're not alone if these issues have caused you credit card debt

As in most states, the economy in New Jersey fluctuates. The state and national economy might, at times, affect your personal financial situation. Other issues, too, might throw your financial train off its tracks. The good news is that most financial problems are temporary. It's all about knowing what type of support to seek or what type of action plan to implement if a problem arises.

There are reasons to consider Chapter 13 bankruptcy

Many people in financial distress shy away from Chapter 13 bankruptcy because they don't want to deal with a repayment plan that typically lasts from three to five years. Instead, they'd rather file for Chapter 7, as it's a faster process that results in the discharge of debt.

The Chapter 7 means test explained

Most people in Morristown can sympathize with those struggling with debt. At the same time, however, there may still be a stigma associated with personal bankruptcy. Many might believe that it is simply a way for people to escape from having to pay their debts. The fact that (according to information compiled by the American Bankruptcy Institute) over 63 percent of non-business bankruptcy filings in 2018 were made under Chapter 7 (which allows debts to be discharged) might be seen as affirming this assumption.

Ast & Schmidt, P.C.

Ast & Schmidt, P.C.
222 Ridgedale Avenue 3rd Floor
P.O. Box 1309
Morristown, New Jersey 07962

Phone: 973-984-1300
Fax: 973-984-1478
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