Explore Chapter 13 bankruptcy options with experienced legal guidance. Straffi & Straffi helps Ocean County clients address creditor pressure, protect important assets, and work toward a manageable repayment plan.
Chapter 13 bankruptcy provides a structured and practical way to manage debt while protecting your assets. Through a court-approved repayment plan, you can catch up on missed payments over time without losing your property. This option is often used by individuals who have regular income and want to regain control of their financial situation.
Chapter 13 may help you:
Stop foreclosure and catch up on missed mortgage payments
Prevent repossession of vehicles and other secured property
Consolidate debt into a manageable repayment plan
Protect assets while working toward long term financial stability
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Stop Foreclosure and Take Back Control
Legal solutions are available to help you stop foreclosure, address missed payments, and protect your home based on your financial situation.
Trusted Bankruptcy Experience
With 25+ Years of experience, you get proven legal strategies focused on real results.
A Plan Built Around You
Your legal strategy is tailored to your income, assets, and goals so you can move forward with confidence.
Direct Attorney Support
You work one on one with an attorney who keeps things clear, simple, and focused on your success.
Immediate Relief From Creditors
Stop collection calls, wage garnishments, and foreclosure actions as soon as your case is filed.
A Path to Long Term Stability
Get more than short term relief with a structured solution designed to help you rebuild and stay on track.
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Stop Foreclosure and Move Forward With a Plan
Chapter 13 can help you regain control with a structured repayment plan. Get the guidance you need to protect what matters most and take the next step today.
Frequently Asked Questions About Chapter 7 Bankruptcy
What Is Chapter 7 Bankruptcy?
Chapter 7 bankruptcy is a legal process that allows you to eliminate most unsecured debts, such as credit cards and medical bills. It is often referred to as liquidation bankruptcy, but many individuals are able to keep essential property through exemptions.
How Does Chapter 7 Bankruptcy Work?
When you file for Chapter 7, a court-appointed trustee reviews your financial situation and determines whether any non-exempt assets can be used to repay creditors. In many cases, no assets are taken, and qualifying debts are discharged.
What Debts Can Be Eliminated With Chapter 7?
Chapter 7 can eliminate many types of unsecured debt, including credit card balances, medical bills, and personal loans. Some debts, such as certain taxes, student loans, and child support, are generally not dischargeable.
Will I Lose My Property If I File Chapter 7?
Not necessarily. Many people who file for Chapter 7 qualify for exemptions that allow them to keep their home, vehicle, and personal belongings. Every case is different, so it is important to review your situation with an attorney.
What Is a No Asset Chapter 7 Case?
A no asset case means that you do not have any non-exempt property for the trustee to sell. This is very common in Chapter 7 filings, and in these cases, creditors typically do not receive payment before debts are discharged.
How Long Does Chapter 7 Bankruptcy Take?
Chapter 7 is generally the fastest form of bankruptcy. Most cases are completed within a few months, allowing you to eliminate qualifying debts and move forward more quickly.
Will Filing Chapter 7 Stop Collection Calls and Lawsuits?
Yes. Filing for Chapter 7 triggers an automatic stay, which immediately stops most collection actions, including creditor calls, lawsuits, wage garnishments, and bank levies.
Do I Qualify for Chapter 7 Bankruptcy?
Eligibility is typically based on your income, expenses, and overall financial situation. Many individuals must pass a means test to qualify, which compares your income to the state median.
Can I Keep My Home or Car in Chapter 7?
In some cases, yes. If your property is protected by exemptions and you are current on payments, you may be able to keep your home or vehicle. If you are behind, other options may be more suitable.
How Often Can I File for Chapter 7 Bankruptcy?
In most cases, you can receive a Chapter 7 discharge once every eight years. However, your eligibility may depend on your prior filings and financial goals.
Is Chapter 7 Right for My Situation?
Chapter 7 is often a good option if you are overwhelmed by unsecured debt and do not have the ability to repay it. If you are trying to catch up on mortgage or car payments, Chapter 13 may be a better fit.
How Do I Get Started With Chapter 7 Bankruptcy?
The first step is to speak with an experienced attorney who can evaluate your finances, explain your options, and guide you through the filing process.
Can Chapter 13 Really Help Me Keep My Home?
Yes. Chapter 13 is one of the most effective legal tools available to stop foreclosure and protect your home. By spreading out missed payments over time, it gives you a realistic path to stay in your home and regain control of your finances.
Many Chapter 7 cases are no asset. Find out if you qualify.
Frequently Asked Questions About Chapter 13 Bankruptcy
What Is Chapter 13 Bankruptcy?
Chapter 13 bankruptcy is a legal process that allows you to reorganize your debt into a structured repayment plan over three to five years. Instead of losing your assets, you make monthly payments based on your income while keeping your home and other important property.
How Does Chapter 13 Help Stop Foreclosure?
Filing for Chapter 13 triggers an automatic stay, which immediately stops foreclosure proceedings. This gives you the opportunity to catch up on missed mortgage payments over time through your repayment plan while staying in your home.
What Debts Are Included in a Chapter 13 Repayment Plan?
Chapter 13 allows you to repay secured debts like your mortgage or car loan, while also addressing unsecured debts such as credit cards and medical bills. In many cases, unsecured debts may be reduced or partially discharged at the end of the plan.
How Long Does a Chapter 13 Plan Last?
Most Chapter 13 repayment plans last between three and five years, depending on your income and financial situation. During this time, you make structured monthly payments to a trustee who distributes funds to your creditors.
Will I Lose My Property in Chapter 13 Bankruptcy?
No. One of the main benefits of Chapter 13 is that you can keep your property while catching up on missed payments. This is especially important for homeowners trying to avoid foreclosure.
Do I Need Income to Qualify for Chapter 13?
Yes. Chapter 13 is often called a wage earner’s plan because you need a reliable source of income to make monthly payments under the repayment plan.
What Happens to Collection Calls and Wage Garnishments?
Once your Chapter 13 case is filed, an automatic stay goes into effect. This stops most collection actions, including creditor calls, wage garnishments, and repossessions.
Who Handles My Payments in Chapter 13?
A court-appointed trustee manages your case and distributes your monthly payments to creditors according to your approved repayment plan. Creditors are not allowed to contact you directly for payment.
Can Chapter 13 Help Me Catch Up on Missed Payments?
Yes. Chapter 13 is specifically designed to help you catch up on missed mortgage or car payments over time, allowing you to keep your property while becoming current.
What Happens If I Complete My Chapter 13 Plan?
After successfully completing your repayment plan, any remaining eligible unsecured debt may be discharged. This allows you to move forward with greater financial stability.
How Do I Get Started With Chapter 13 Bankruptcy?
The first step is to schedule a consultation to review your financial situation. You will receive guidance on whether Chapter 13 is the right option and what steps to take next.
Can Chapter 13 Really Help Me Keep My Home?
Yes. Chapter 13 is one of the most effective legal tools available to stop foreclosure and protect your home. By spreading out missed payments over time, it gives you a realistic path to stay in your home and regain control of your finances.
Meet Our Bankruptcy Lawyer Daniel Straffi, Jr.
Mr. Straffi, Jr., was admitted to practice in the States of NJ and Pennsylvania, as well as the District Court of New Jersey, in 2001. A graduate of Boston College in 1998 and Rutgers-Camden School of Law in 2001, he began his legal career in 2001 serving as a judicial law clerk for the Presiding Judge of Family Law in Mercer County, the Hon. Lee Forrester, P.J.F.P. After completing his clerkship, Mr. Straffi was an associate at the law firm Cooper Levenson for two years where he concentrated his practice on the area of negligence defense. In 2004, he joined his father’s law practice. He has focused his practice on representing individuals and businesses in the areas of bankruptcy, divorce and criminal defense. He is further an active member of the NJ and Ocean County Bar Associations (Co-Chair of Bankruptcy Panel), and is a certified mediator and early settlement panelist in Ocean County.
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