Chapter 7 Bankruptcy

NJ. Lawyer Explains The Chapter 7 Process The most prevalent type of bankruptcy filing in New Jersey are Chapter 7, Chapter 13 and Chapter 11. People  refer each bankruptcy type as “chapters” because the bankruptcy code reflects the law of each chapter, in the actual chapter number of the code.  In … [Read more...] about How To File For Chapter 7 Bankruptcy In NJ?

New Jersey Bankruptcy Lawyer Explains which specific type of debt may not be discharged in Chapter 7. In a typical NJ. chapter 7 bankruptcy case, the debtor intends to discharge certain debt. A chapter 7 bankruptcy discharge means that the debtor is no longer personally liable and/or … [Read more...] about Exceptions To Discharging Debt In NJ. Chapter 7

NJ Bankruptcy Lawyer Explains What "Abandonment" Means Regarding A Chapter 7 Bankruptcy Case. If a chapter 7 debtor owns real estate, the trustee must determine if he can sell or abandon his right to the property. The trustee will perform a liquidation analysis to determine if there is sufficient … [Read more...] about What Does Abandonment of Property Mean for New Jersey Chapter 7 Bankruptcy

A New Jersey lawyer Explains If Someone Appears At A Person's House After Filing  For Chapter 7 Bankruptcy Protection. The chapter 7 bankruptcy code is created to allow a person a fresh start. In theory, the fresh start permits a person to keep property that is necessary to live. However, if a … [Read more...] about Will Someone Come To My House If I File For Chapter 7 Bankruptcy In New Jersey?

Bankruptcy Lawyer Explains When A Person May keep Financed Jewelry In A New Jersey Chapter 7 Case An asset must be protected from the trustee and the financing creditor in a New Jersey chapter 7 bankruptcy case. It is unlikely that a chapter 7 trustee will sell the debtor’s jewelry.  A trustee may … [Read more...] about Can I Keep Financed Jewelry In A New Jersey Chapter 7 Bankruptcy Case?

New Jersey Attorney Explains The Expenses That Are Used In A New Jersey Chapter 7 Bankruptcy Case One criteria in a New Jersey chapter 7 bankruptcy case requires the debtor's projected net household income to be less than the projected reasonable and necessary household expenses. If the income is … [Read more...] about What Expenses Are Used In A New Jersey Chapter 7 Bankrutpcy Case?