Chapter 13 Bankruptcy

What can I accomplish with a Chapter 13 bankruptcy filing? A chapter 13 requires monthly trustee payments. The payments must be made for at least 36 months and no more than 60 months. The amount of the payments must be no less than the debtor’s monthly disposable income. Why would a person file a … [Read more...] about NJ Bankruptcy Attorney Explains What Someone Can Accomplish When Filing a Chapter 13

A chapter 13 debtor (person filing for bankruptcy) at some point may no longer be able to make their monthly trustee payments due to various factors, such as a reduction in income, higher expenses, etc. The bankruptcy code permits a debtor to file a modified plan based on a number of circumstances. … [Read more...] about New Jersey Bankruptcy Lawyer Explains What Happens If You Are No Longer Able To Make Trustee Payments

The court will not permit a debtor to continue with a chapter 13 bankruptcy case unless the debtor provides sufficient proof of income to the trustee that he is able to make the required monthly payments. If two married individuals are residing together, both spouses must include their income and … [Read more...] about NJ Bankruptcy Lawyer Explains What A Debtor Can Do Who Needs More Income

Sometimes a debtor may need to amend a schedule or a portion of their petition due to an inadvertent mistake or change in their circumstances. A debtor may wish to modify their petition to correct a mistake, such as changing the value of an asset or including an asset. Under the chapter 13 … [Read more...] about NJ Bankruptcy Lawyer Discusses Amending Bankruptcy Petition Schedules

There are three chapter 13 trustees in the State of New Jersey. Marie Greenberg is the chapter 13 trustee for the Newark vicinity. Albert Russo is the chapter trustee for the Trenton vicinity. Isabel Balboa is the chapter 13 trustee for the Camden vicinity. All trustees require that all payments … [Read more...] about NJ Bankruptcy Lawyer Explains How To Pay Chapter 13 Payments

Typically, a chapter 7 bankruptcy is designed for a person that wishes to discharge (eliminate) certain debt, such as unsecured debt (credit card debt). A person may also discharge secured debt. However, if a person wants to keep the property that is connected with the secured debt, such as a house … [Read more...] about NJ Bankruptcy Attorney Explains The Differences Between Chapter 7 and Chapter 13