One of the most difficult types of debt to manage is student loans. This is because student loans are typically not dischargeable in bankruptcy. However, New Jersey debt holders may see this change in the future.
Many people looking for a fresh financial start can be confused by the different types of bankruptcy available and the laws associated with each. New Jersey individuals typically file for either Chapter 7 or Chapter 13 bankruptcy. It is important for individuals to look carefully at the qualifications, benefits and drawbacks of each to decide which is right for them.