General Bankruptcy Information

If a bankruptcy debtor has funds in a bank account and the debtor owes a debt to the same bank, under certain circumstances, the bank may be permitted to take the funds. A debtor may owe a debt to a bank, based on various reasons, such as non sufficient fund charges or having a credit card debt with … [Read more...] about NJ Bankruptcy Lawyer Explains If The Bank Is Able To Keep The Money In An Account

How much money can a person keep in their bank account at the filing of a chapter 7? This depends on the amount of exemptions that are available to apply towards the bank account funds. The federal exemptions that may be applied towards bank account funds are called the wildcard exemptions, under … [Read more...] about New Jersey Bankruptcy Lawyer Explains The Amount Protected In A Bank Account In A Chapter 7

Health care debt is classified as unsecured debt and is treated the same as credit card debt in all bankruptcy chapters. If the debtor meets all criteria for a chapter 7 and is entitled to a discharge, all of the health care debt will be discharged and eliminated in the chapter 7. Health Care Debt … [Read more...] about NJ Bankruptcy Attorney Discusses Health Care Debt In Bankruptcy

Chapter 7 The information provided below may not apply to your telephone service provider, as the terms vary with each provider. If the debtor owes a debt that is due to a cell phone provider, the debt will be eliminated in a chapter 7.  After eliminating the debt that is due prior to the bankruptcy … [Read more...] about NJ Bankruptcy Lawyer Discusses Cell Phone Usage In Bankruptcy

The particular state exemptions that apply to a debtor is a different issue than the State where a person can file their bankruptcy petition. A person may be permitted to file in a particular state, but may not be permitted to apply the exemptions of the same state. New Jersey permits a person to … [Read more...] about New Jersey Bankruptcy Lawyer Details Which State’s Exemptions Must Be Applied

Should spouses file bankruptcy jointly or separately? One spouse can file bankruptcy without the other spouse. Each spouse should only file if there is a benefit for each spouse. A person is liable and owes a debt to a person or company, if that same person contracts with the entity to borrow the … [Read more...] about NJ Bankruptcy Attorney Discusses If Spouses Should File Bankruptcy Jointly Or Alone