Legal Question in Bankruptcy in New Jersey

Re: Am I a Candidate

You may be able to file bankruptcy but you should keep in mind that when you file you will be required to present on your petition your monthly budget. That means you must list all your monthly income and your expenses (NOT including credit card and debt payments). This will be examined by a bankruptcy trustee. If you and your wife make $70,000 and live with a parent for free, you will most likely have enough money left over each month after expenses for making the minimum credit card payments. Unfortunately, the trustee will not care that you have future plans. He or she will only care about the numbers.

Re: Am I a Candidate

There is nothing in the information you have provided to indicate that you are not eligible for bankruptcy relief. However, there is more information not included in your question that must be considered. It really does require a careful analysis of various data and factors by an experienced bankruptcy attorney to determine if bankruptcy makes sense for you and if so what form (i.e., chapter). For example, you might well benefit from the relief that Chapter 7 can provide, but there are things you really should understand about the process, including risks and benefits, that an experienced bankruptcy lawyer can alert you to and discuss with you before you make a decision to file for bankruptcy relief. I would be pleased to discuss with you further. Feel free to call me at (973) 664-1090.

Re: Am I a Candidate

From the information you present in your question, it appears that you qualify for chapter 7 bankruptcy protection. I would have to discuss more details to give you a more definite answer. You and your wife could make a joint application for bankruptcy in the same case. This saves money. Call me for a consultation 201-646-9799 or visit www.gomezlegal.com for answers to your questions