Bankruptcy

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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.

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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.

    "..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.
    "Hiring this law firm was an excellent choice."
    Hiring this law firm was an excellent choice. Robert and Antoinette were just great. I would recommend them to whomever needs an attorney. They were responsive to my needs and were spot on with their strategy and direction. Look no further.
    - Erin S.
    "100% recommended for any New Jersey resident!"
    I had the pleasure of working with David Ast and his assistant Antoinette. The entire bankruptcy process was explained simply, and all shame was immediately removed. 100% recommended for any New Jersey resident!
    - Sarah F.
    "Highly recommended!"
    They took care of me through both a bankruptcy and home sale. Smart, detailed, professional, as well as personable. What more could you look for? Highly recommended!
    - Eric S.
    "... I couldn't image it going any better...."
    Excellent work. I couldn't image it going any better. Highly recommended.
    - David M.
    "If I could give Robert & Antoinette 10 stars, I would!"
    If I could give Robert & Antoinette 10 stars, I would! They were absolutely wonderful and handled my case with compassion and professionalism. They were able to provide reassurance through out the whole process and kept me in the loop the entire time. If I had a question ... and I had many...I always received a quick response back!!!! I can’t thank you both enough for all your help and guidance through this process.I HIGHLY, HIGHLY recommend this team.
    - Former Client
    "The services of Ast & Schmidt were excellent and helped me get through a tough time."
    The services of Ast & Schmidt were excellent and helped me get through a tough time. Robert and Antoinette were very responsive to my questions and needs. If you too find yourself requiring assistance in these matters this firm is a great option.
    - Todd C.
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!
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