New Jersey Bankruptcy Law provides much protection to people facing debt and harassing calls. If you have been behind on your payments, you are well aware of the chronic problem of phone calls, letters, emails, lawsuits, and several other measures that creditors use to collect on the amount you owe them. It is both embarrasing and a constant reminder of your finacial woes. You may be wondering if there is a "do not call" list for creditors who are attempting to collect. Unfortunately, no such list exists. The creditors have a right to contact you for collection on your overdue payments. This collection effort has to be reasonable. The reasonableness of collection efforts, however, is a subjective determination and many people find that creditors cross the line when pursuing their account.
The Chapter 7 Bankruptcy Law provides relief for this problem. The filing of a NJ Chapter 7 Bankruptcy will stop all collection efforts. Upon notice of the filing, the creditors will be forced to stop contacting you. This notice will come from the bankruptcy trustee and your NJ Bankruptcy Attorney. If the creditor attempts to contact you after notice of your filing, the Chapter 7 Bankruptcy Law provides for harsh financial penalties. This protection can be viewed as a large bubble around you. Visualize a large bubble that no creditors can enter. This bubble will remain in place until you are granted a chapter 7 bankruptcy discharge. At this time, of course, the bubble will no longer be required because the debts will have been discharged.
This protection makes chapter 7 bankruptcy a very important tool for debtors. It provides a means to acheive both mental and emotional relief from the constant harassment by creditors.
The Chapter 7 Bankruptcy Law provides relief for this problem. The filing of a NJ Chapter 7 Bankruptcy will stop all collection efforts. Upon notice of the filing, the creditors will be forced to stop contacting you. This notice will come from the bankruptcy trustee and your NJ Bankruptcy Attorney. If the creditor attempts to contact you after notice of your filing, the Chapter 7 Bankruptcy Law provides for harsh financial penalties. This protection can be viewed as a large bubble around you. Visualize a large bubble that no creditors can enter. This bubble will remain in place until you are granted a chapter 7 bankruptcy discharge. At this time, of course, the bubble will no longer be required because the debts will have been discharged.
This protection makes chapter 7 bankruptcy a very important tool for debtors. It provides a means to acheive both mental and emotional relief from the constant harassment by creditors.
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