General Bankruptcy Information

If a person was denied a discharge of certain debt in a prior bankruptcy case, the same debt cannot be discharged in a subsequent bankruptcy filing. This code section if very limited and is rarely applied. I am referring to the following type of debt that was not discharged in the prior case: 1. … [Read more...] about New Jersey Bankruptcy Attorney Details The Debt That Is Not Dischargeable

What happens to pension loans when filing for bankruptcy? Pursuant to the 2005 bankruptcy amendments, a pension loan and other ERISA qualified and pension like loans, such as a 403(b) and 401(k) loans are nondischargeable (cannot eliminate) in bankruptcy. Other ERISA qualified loans that are … [Read more...] about How New Jersey Bankruptcy Cases Deal With Pension Loans

Certain income tax debt is not dischargeable (not eliminated by bankruptcy). Also, in general, unsecured debt such as credit card debt and personal loans, is dischargeable in bankruptcy. However, the 2005 bankruptcy code amendment no longer permits a discharge of an unsecured debt that was used to … [Read more...] about New Jersey Bankruptcy Lawyer Explains The Dischargeability of Debt Used to Pay Certain Taxes

Many clients have questions regarding their debt and which items can be discharged in bankruptcy. A debt that was incurred as a result of personal injury or death caused by operating a vehicle while intoxicated is not dischargeable in a chapter 7 or 13. The debtor must have been intoxicated at the … [Read more...] about New Jersey Bankruptcy Lawyer Explains How Personal Injury Or Death Lawsuits Are Handled If The Debtor Was Intoxicated

In general, any debt that is incurred after the filing of a chapter 7 or 13 is not included in the bankruptcy case. In other words, if a person obtains a personal loan after the filing of a chapter 7, the lender may pursue the debtor for the debt and the debt is not discharged through the case. … [Read more...] about NJ Bankruptcy Attorney Explains Why Converting a Chapter 13 To A 7 May Be Beneficial

On April 20, 2005, the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA)was signed into law. The law was effective on October 17, 2005. This law modified a number of the bankruptcy code provisions. Chapter 7 Prior to the amendment, a person was permitted to file a subsequent chapter 7 … [Read more...] about Why Bankruptcy Case Filings May Increase in New Jersey