As a general rule, individuals filing a bankruptcy in New Jersey, Pennsylvania and other states must complete and file a "Statement of Your Current Monthly Income," referred to as the means test. Under this test, if you make more than the average family your size in...
Month: August 2016
Bankruptcy closes Midtown II diner
A Bankruptcy ultimately was not enough to save a Philadelphia Pennsylvania diner. According to Philly.com at http://articles.philly.com/2016-06-02/business/73496318_1_diner-bankruptcy-health , during the last two years, the Midtown II diner at 11th...
Information Required when Filing Bankruptcy
Since bankrupcy is a federal law, whether filing bankruptcy in Voorhees, New Jersey or Philadelphia, Pennsylvania, the information to be provided is the same. Section 521 of the bankruptcy code, entitled "Debtor's Duties" lists different requirements. The...
Discharging Willful and Malicious Damages in Bankruptcy
Damages caused by willful and malicious injury to another person cannot be discharged in bankruptcy. Bankruptcy discharges many kinds of debt. However, there are some exceptions under Section 523 of the bankruptcy code. One type of exception relates to Willful and...
Reestablishing Credit after Bankruptcy
Each year a number of people file for bankruptcy protection as a responsible means of getting their financial lives back on track. Across the United States, over eight hundred thousand individuals filed for personal bankruptcy in 2015 and in New Jersey that number was...