Business

Attorney Explains How A Person With Business And Personal Debt Is Handled In A New Jersey Bankruptcy Case. As I explained in my other blogs, two people who owe a joint debt, in New Jersey, both owe 100% of the debt. This means that the creditor may sue each person for the entire debt, or any … [Read more...] about What Happens If I Owe Business And Personal Debt In A New Jersey Bankruptcy Case.

Typically, everyone that files a personal, individual, bankruptcy in New Jersey, who owns a small business, may keep their business. The bankruptcy laws analyze a business as an asset of the debtor. The debtor can keep any asset in a chapter 7 that does not have a substantial value. If the business … [Read more...] about NJ Bankruptcy Lawyer Explains If Someone Can Keep Their Business When Filing

In connection with a personal bankruptcy, a person’s business and/or the business assets are considered an asset of the individual. However, only the individual debtor’s ownership interest in the business and assets are the debtor’s asset. In a chapter 7, if the individuals’ business interest has … [Read more...] about How Does Bankruptcy Affect My Business in NJ?