Debt can be an overwhelming burden for any New Jersey resident. It is difficult enough not to be able to pay the bills, but then creditors and collections agents begin calling. Your hardship does not matter to the voice on the other end of the line — he or she is only interested in getting money from you that you do not have. Filing for bankruptcy can stop harassing phone calls from creditors, along with other creditor actions.
Every consumer has rights when it comes to the actions of creditors and debt collectors, but many of them know what their limits are and will push or even exceed them. Once a bankruptcy is filed, all collection actions must stop — at least temporarily — in accordance with the automatic stay. Any court proceedings initiated by a creditor for garnishment, foreclosure or repossession are also stopped during the bankruptcy proceedings.
Also, once the bankruptcy is filed, if a creditor calls, you need only tell the caller that you have filed for bankruptcy and direct him or her to your attorney. The automatic stay provides these protections regardless of whether you file a Chapter 7 (liquidation) or a Chapter 13 (reorganization). Anyone having trouble paying the bills knows how disconcerting is can be when the phone rings.
Filing for bankruptcy in New Jersey gives more to you than just the ability to stop harassing phone calls from creditors. It can provide some much needed breathing room to review and restructure your finances. Once the bankruptcy is completed, you can start fresh with a clean slate. For many people, bankruptcy is a new lease on life free from the bonds of unmanageable debt.