Dubiln Packard

Todd Murphy

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How Many Credit Counseling Classes Required For Bankruptcy?

Credit Counseling ClassesHow many credit counseling classes required for bankruptcy?  This is a common question with a simple answer.

Two classes are required:

Pre-petition credit counseling: A credit counseling class must be taken BEFORE you file;

Post-filing credit counseling: A financial management class must be taken AFTER you file but before your case is closed.

 

 

 

 

Two credit counseling classes required for bankruptcy. The classes can be taken on-line or by phone.  The first class must be taken before you file, or you will not qualify for bankruptcy. The second class is taken after you file but before discharge in a Chapter 7 Bankruptcy or plan confirmation in a Chapter 13 Bankruptcy.

 

The credit counseling classes required for bankruptcy and are designed to provide you with financial management information that can help you manage your credit in the future.

 

Whether you are filing for Chapter 7 or Chapter 13 bankruptcy, we help our clients ensure that their bankruptcy counseling and education requirements are met. The courses are simple, easy-to-use and available in both English and Spanish, with bilingual customer service representatives available to help you 7 days a week. With the added convenience of having your certificate delivered immediately to you and to us, your NJ Bankruptcy Attorney, we give you the peace of mind you need during this difficult process.

 

Considering bankruptcy?  Todd Murphy, a NJ Bankruptcy Attorney, is the New Jersey Bankruptcy Lawyer people have trusted for over 15 years for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy.  Our office is conveniently located to serve all of Essex County, Bergen County, Passaic County, Hudson County, Union County, Morris County, and Middlesex County.

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What Our Clients Say About Us at Todd Murphy Law

We are so happy to be debt free: Thanks Todd Murphy Law!

Most people search online when they need a lawyer but how do they know the lawyer they found online will be able to help them? Reviews have become the most important tool to evaluate someone.

Another way is to review all of the information on a website to see if the lawyer has written helpful articles that demonstrate not only his command of the subject matter but also his willingness to share information that can help people whether or not they ever become a client.

After you have reviewed the many informative articles here on our website and read what our clients say about us here, see our other reviews on Google: https://g.page/r/CYXtyPqKajaIEBA

Here are just some of the things we hear the most. What Our Client Say About Us.

 

 

“I feel like an enormous weight has been lifted from my shoulders.”

– A. Rodriguez, Newark, NJ

“Thank You Mr. Murphy for taking the time to care about our situation.”

– R. Colon, East Orange, NJ

“I was worried bankruptcy was going to ruin my chances to ever get credit again.

You explained to me how I would be able to rebuild my credit within two years

and after only one year, I am already seeing an improvement in my credit score.

Thanks!!”

– M. Scalionno, Irvington, NJ

“You really explained everything to us so we could make the right decision.”

– E. Dunn, Elizabeth, NJ

“It was a lot of work to get this done but now that it is over, we feel great!”

– J. Corr, Maplewood, NJ

“Thanks for making your fees affordable and waiting

for us to make payments.  I don’t know how anybody

could ever file for bankruptcy without being able to

pay the fee over time.

With love.”

– A. Fitzgerald, Newark, NJ

Those are just some of what our clients say about us.

We are so happy to be debt free: Thanks Todd Murphy Law!

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Cost to File Bankruptcy in New Jersey

Cost To File Bankruptcy In New Jersey

Our Fees Are Affordable AND We Offer Payment Plans Customized To YOUR Budget!

How much does it cost to file bankruptcy in New Jersey is a question most people want to know the answer to right away.

 Chapter 7 Bankruptcy in New Jersey

For most people, Chapter 7 Bankruptcy is the quickest, easiest, and most cost-effective choice. If you don’t own a home and don’t have too much income, Chapter 7 may be right for you. There is a range of fees, and payment plans are available as well. Click here to see our latest payment plans.

Chapter 13 Bankruptcy in New Jersey

Chapter 13 Bankruptcy is a re-payment plan or re-organization of your debts.  If you have  above-average income or equity in a home, Chapter 13 may be right for you.  Chapter 13 Bankruptcy cases are more complex than typical Chapter 7 Bankruptcy cases therefore the fees are little more costly.  BUT, a portion of the fees can be paid over 60 months making a Chapter 13 Bankruptcy case very affordable. 

Payment Plans Make Chapter 13 Bankruptcies Easier

Most people who need to file for bankruptcy don’t have the money it takes to pay the fees and costs associated with filing. Payment plans are usually the answer. We do convenient monthly and bi-weekly payment plans, that fit your budget,  to make paying for bankruptcy a little easier.  Click here to see our latest payment plans.

 

Court Costs

In addition to attorney’s fees for filing your case, there are Court costs typically around $325 which are due on filing.  In some cases, if you apply and the Court agrees, you may be able to pay the Court cost in four payments or even get the fee waived.  Click here to see our latest payment plans.

No Hidden Fees.

Be sure to ask when comparing payment plans between lawyers: do they charge extra for services that should be included in an average bankruptcy case such as appearing on your behalf at the 341 hearing,

Credit Rebuilding Advice.

Does your lawyer show you how to rebuild your credit after filing bankruptcy?  Its a service that all lawyers should offer, and, of course, we do.  Ask us about it.

How Do I Come Up With The Money To Pay For The Cost To File Bankruptcy In New Jersey?

Stop Paying Your Credit Cards.

The Cost To FIle Bankruptcy In New Jersey can be daunting. Many people can stop paying their credit cards once they have made the decision to file bankruptcy.  This often frees-up enough money to make payments for the attorney fee and  Court costs.  Other people have to rely on friends or family to give them the money.  Still others wait until they receive their tax refund as a way to fund the cost.

Use Your Tax Refund.

Use your tax refund to fund the cost to file bankruptcy in New Jersey. The research submitted to the National Bureau of Economic Research, conducted by a group of professors from Columbia University, the University of Chicago and Washington University in St. Louis, examined how bankruptcy filings spiked after people received their tax rebates in previous years.They estimate that another 200,000 consumers, who would otherwise not have enough money to file, will use their tax refunds to pay for bankruptcy this year.

Payment Plans

Check out our payment plans by clicking the box below.  Bankruptcy hits at the least opportune times – usually when you don’t have the money to pay the legal fee and maybe when a wage garnishment, car repo, or sheriff sale is imminent.  Payment plans are the answer.  Click here to see our latest payment plans.

 

Cost To File Bankrupcty Button

 

Our office is conveniently located to serve all of Somerset County, Warren County, Passaic County, Hunterdon County, Union County, Morris County, and Middlesex County.

Cost to File Bankruptcy in Essex County New Jersey: Belleville, Bloomfield, Caldwell, Cedar Grove, Orange, East Orange, Fairfield, Glen Ridge, Irvington, Livingston, Maplewood, Millburn, Short Hills, Montclair, Nutley, Roseland, South Orange, Verona, West Caldwell, West Orange.

 Cost To File Bankruptcy in Hudson County New Jersey: Bayonne, Jersey City, Hoboken, Union City, West New York, Guttenberg, Secaucus, Kearny, Harrison, North Bergen, Weehawken
Cost To File Bankruptcy in Passaic County New Jersey: Clifton, Haledon, Hawthorne, Little Falls, Singac, North Haledon, Passaic, Paterson, Pompton Lakes, Prospect Park, Ringwood, Totowa, Wanaque, Wayne, West Milford, Hewitt, Newfoundland, Oak Ridge, Woodland Park
Cost To File Bankruptcy in Bergen County New Jersey: Allendale, Alpine, Bergenfield, Bogota, Carlstadt, Cliffside Park, Closter, Cresskill, Demarest, Dumont, East Rutherford, Edgewater, Elmwood Park, Emerson, Englewood, Englewood Cliffs, Fair Lawn, Fairview, Fort Lee, Franklin Lakes, Garfield, Glen Rock, Hackensack, Harrington Park, Hasbrouck Heights, Haworth, Hillsdale, Ho-Ho-Kus, Leonia, Little Ferry, Lodi, Lyndhurst, Mahwah, Maywood, Midland Park, Montvale, Moonachie, New Milford, North Arlington, Northvale, Norwood, Oakland, Old Tappan, Oradell, Palisades Park, Paramus, Park Ridge, Ramsey, Ridgefield, Ridgefield Park, Ridgewood, River Edge, River Vale, Rochelle Park, Rockleigh, Rutherford, Saddle Brook, Saddle River, South Hackensack, Teaneck, Tenafly, Teterboro, Upper Saddle River, Waldwick, Wallington, Washington Township, Westwood, Wood-Ridge, Woodcliff Lake, Wyckoff
Cost To File Bankruptcy in Union County New Jersey:  Fanwood, Garwood, Kenilworth, Mountainside, New Providence, Roselle Park, Roselle, Elizabeth, Linden, Plainfield, Rahway, Summit, Westfield, Berkeley Heights, Clark, Cranford, Hillside, Scotch Plains, Springfield Township, Union Township, Winfield Township
Cost To File Bankruptcy in Middlesex County New Jersey: Carteret, Cranbury, Dunellen, East Brunswick, Edison, Helmetta, Highland Park, Jamesburg, Metuchen, Middlesex, Milltown, Monroe, Clearbrook Park, Concordia, Rossmoor, Whittingham, New Brunswick, North Brunswick, Old Bridge, Brownville, Laurence Harbor, Madison Park, Old Bridge, Perth Amboy, Piscataway, Society Hill, Plainsboro Township, Plainsboro Center, Princeton Meadows, Sayreville, Parlin, South Amboy, South Brunswick, Dayton, Deans, Heathcote, Kendall Park, Kingston, Monmouth Junction, South Plainfield, South River, Spotswood, Avenel, Colonia, Fords, Hopelawn, Iselin, Keasbey, Menlo Park Terrace, Port Reading, Sewaren, Woodbridge

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What can I do if my student loan debt is high compared to my income?

If your student loan debt is high relative to your income, you may qualify for the Income-Based Repayment Plan (IBR).

 

Student Loan Debt: Income-Based Repayment (IBR) is designed to reduce monthly payments to assist with making your student loan debt manageable. If you need to make lower monthly payments, this plan may be for you.

To qualify for IBR, you must have a partial financial hardship. You have a partial financial hardship if the monthly amount you would be required to pay on your IBR-eligible federal student loans under a 10-year Standard Repayment Plan is higher than the monthly amount you would be required to repay under IBR. Your payment amount may increase or decrease each year based on your income and family size. Once you’ve initially qualified for IBR, you may continue to make payments under the plan even if you later no longer have a partial financial hardship. Find out whether you’re eligible.

What Typed of Loans Are Eligible For Income Based Repayment?

 

Most major types of federal student loans—except for PLUS loans for parents and Consolidation Loans that repaid PLUS loans for parents—are eligible for IBR.

 

Find out more about the William D. Ford program here: William D. Ford Direct Student Loan Program.

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Medical Expenses Is Still The Number One Reason Why People File Bankruptcy

After a year-upon-year tally of the many bankruptcy cases I do each year, I have found that the number one reason why people file bankruptcy is still medical expenses.

Having extraordinary medical expenses is still the number one reason why people file bankruptcy my research shows.

A 2005 study by Harvard University showed then that 62% of bankruptcy filers filed bankruptcy due to their inability to pay enormous medical expenses after a significant illness or injury.  My own records show this still to be true.

Cancer Takes A Financial Toll.

Of the most financially devastating diseases, cancer reigns supreme. The American Cancer Society estimates that the 2010 total cost of cancer in the U.S. rose to $263.8 billion. So perhaps unsurprisingly, a new study by the Fred Hutchinson Cancer Research Center shows a close link between cancer diagnosis and personal bankruptcy. Compared to the general population, bankruptcy rates are nearly twice as high among cancer patients one year after diagnosis.  Of the bankruptcies caused by a cancer, a surprising 78% reported having some form of health insurance.

Many Are Covered By Health Insurance.

Overall, three-quarters of the people with a medically-related bankruptcy had health insurance.

I found a very high percentage of people who filed had health insurance, but many of them were bankrupted anyway because there were gaps in their coverage like co-payments and deductibles and uncovered services.  Other people had private insurance but got so sick that they lost their job and lost their insurance.

Many middle-class Americans feel insulated from these growing costs by medical insurance, but often when serious medical problems arise, that safety net either disappears or proves to be full of holes.

For Most, Health Insurance Is Employer Based.

For most, medical insurance is employer-sponsored. That means the insurance can disappear when illness or injury makes working impossible.

Although COBRA laws allow the employee to extend the insurance coverage by assuming payments, that solution falls short for many. COBRA can be very expensive and coverage is limited in duration, so an illness or injury that prevents work in the long-term will ultimately outlast those benefits.

Even people with active medical insurance coverage often end up with large bills as co-payments, non-covered services and other out-of-pocket expenses mount.

Although many policies include “catastrophic” provisions that limit out-of-pocket expenses, the cut-offs are often so high that policyholders are bankrupted by the medical expenses that fall in the gap.

These radically mounting medical bills haven’t been absorbed easily by the average American family.