Bankruptcy

Bankruptcy is often viewed as an individual’s last resort when financial difficulties arise. And while we do not suggest that filing for bankruptcy would, or should, be anyone’s first choice, it is often, ultimately, the best, most comprehensive, solution to an individual’s financial problems. … [Read more...] about General Information About Bankruptcy

In general, upon the filing of the bankruptcy case, all of the debtor’s property is included in the bankruptcy estate. In a chapter 7, the debtor can keep all property that has low equity or value. Although unusual, if the debtor owns property with substantial value that exceeds the amount of the … [Read more...] about Retirement Plans, Pensions And Bankruptcy – Explained By A NJ Bankruptcy Lawyer

Prior to the filing of any bankruptcy case, an individual must obtain debt / credit briefing, within 180 days prior to the filing. The briefing or counseling session is a specific kind of counseling that is tailored for bankruptcy. The briefing must be provided by an agency that has been approved by … [Read more...] about Bankruptcy Debt Counseling – Discussed By A New Jersey Bankruptcy Attorney

The filing of a bankruptcy case prevents all creditors from commencing or continuing any action against the person filing (debtor) regarding all collection claims for money; or, the enforcement of claims against the debtor’s property, due to money that is owed to a creditor. In general, bankruptcy … [Read more...] about What Can Bankruptcy Stop? Will Creditors Stop Calling Me?

A person cannot file a subsequent chapter 7 case, within eight years of the filing of the prior chapter 7 case that received a discharge. In other words, if a person received a chapter 7 discharge, the debtor cannot receive another chapter 7 discharge unless the subsequent chapter 7 is filed at … [Read more...] about How Many Times Can I File For Bankruptcy?

New Jersey bankers believe that better times are ahead for the state’s economy, according to a recent poll by the New Jersey Bankers’ Association. In fact, bankers are sufficiently confident that the economy will improve that they are prepared to lend money - despite the fact that few people are … [Read more...] about New Jersey Bankers Predict Improved Economy, But Bankruptcy Filings Will Continue