Bankruptcy is a legal procedure that provides relief to individuals and businesses who are unable to pay off their debts. It is divided into two categories - Chapter 7 and Chapter 13. While Chapter 7 is a liquidation bankruptcy that discharges debt without a repayment plan, Chapter 13 is a reorganization bankruptcy that allows debtors to keep their assets while paying off their debts through a repayment plan. In this blog post, we will focus on understanding Chapter 13 bankruptcy and how it affects your job. We will also discuss the benefits of filing for Chapter 13 bankruptcy and how Robert H Johnson LLC can assist New Jersey residents with bankruptcy matters. 

Will filing for Chapter 13 bankruptcy affect my job? 



Filing for Chapter 13 bankruptcy does not affect your current job. Your employer will not be notified of your bankruptcy filing unless you owe them money. However, if you are applying for a new job, the employer may conduct a credit check, which may reveal your bankruptcy filing. But this should not deter you from filing for bankruptcy if it is the best option for your financial situation. In fact, the benefits of Chapter 13 bankruptcy outweigh any potential negative impact on employment. 

Benefits of filing for Chapter 13 bankruptcy 

One of the main benefits of Chapter 13 bankruptcy is that it allows you to keep your assets while paying off your debts over a period of three to five years. This is particularly beneficial for homeowners who are facing foreclosure. It also allows you to catch up on missed mortgage payments and to pay off other secured debts, such as car loans, at a reduced interest rate. Additionally, Chapter 13 bankruptcy may enable you to discharge certain unsecured debts, such as credit cards, medical bills, and personal loans. Another benefit of Chapter 13 bankruptcy is that it provides an opportunity to improve your credit score by making timely payments on your repayment plan. 

At Robert H Johnson LLC, we can assist New Jersey residents with bankruptcy matters. Our experienced bankruptcy attorneys can help you navigate the Chapter 13 bankruptcy process and determine if it is the right option for you. We can also guide you through the repayment plan and provide legal representation in court if necessary. We understand that filing for bankruptcy can be overwhelming, but we are here to support you every step of the way. 

While bankruptcy may seem intimidating, it can provide relief and a fresh start for individuals who are unable to pay off their debts. Chapter 13 bankruptcy allows debtors to keep their assets while paying off their debts through a repayment plan. It does not affect employment, and the benefits of Chapter 13 bankruptcy - such as keeping your home and discharging certain debts - outweigh any potential negatives. If you are a New Jersey resident struggling with debt, Robert H Johnson LLC can help. Our experienced bankruptcy attorneys can guide you through the process and provide legal representation in court if necessary. Call us today for a consultation.