Credit card balances in the U.S. have hit more than $420 billion, an increase of 5 percent over 2017, new research shows.The debt can feel overwhelming: 9 percent of those with credit card debt don’t believe they will ever get out from under, polls show. Three...
Law Office of Robert Braverman, LLC
CHAPTER 13 BANKRUPTCY CONFIRMATION HEARING
When a chapter 13 bankruptcy is filed the court automatically schedules two hearings. The first is a meeting of creditors. The debtors are required to attend this meeting with the chapter 13 trustee and their attorney. Creditors are invited to come but they rarely do....
Can you recognize the financial warning signs of bankruptcy?
Many Americans struggle with their finances at one point or another. It can be easy to miscalculate a budget or forget about a bill.However, when financial problems are continually cropping up, it may be a symptom of a larger issue. Here are a few warning signs that...
Tips when attending the Bankruptcy meeting with Creditors
Whether an individual files a Chapter 13 bankruptcy or a Chapter 7 bankruptcy, they will be required to attend a meeting with a trustee. Although creditors are also invited they rarely attend. In southern New Jersey the Chapter 13 meetings take place in either Cherry...
Gymboree Reported to Soon Be Filing Bankruptcy
The Wall Street journal reports that Gymboree is on the verge of filing a bankruptcy with the likely closure of their stores. Locally there are several stores including at the Cherry Hill Mall in Cherry Hill New Jersey, The Promenade at Sagemore in Marlton NJ and the...
NJ Bankruptcy Court Impacted by Government Shutdown
The New Jersey Bankruptcy Court, which is part of the Federal Court System has addressed the impact of the federal government shutdown on its official website. Specially the site notes "the Judiciary has continued to operate by using court fee balances and other...
Eliminating Divorce Obligations in Bankruptcy
A Chapter 13 Bankruptcy can eliminate obligations from a Judgment of Divorce that cannot be eliminated in a Chapter 7 Bankruptcy. Neither will eliminate domestic support obligations such as child support or spousal support. However, if there are other obligations...
Settlements, Bankruptcy and Debt Foregiveness Tax Liability.
When a creditor agrees to settle a claim for a reduced amount, the amount of debt foregiven can result in taxable income. For example, if you owe $20,000 on a credit card and a settlement is reached where they agree to accept $11,000 as payment in full, the creditor...
USA Gymnastics files for Chapter 11 Bankruptcy
USA Gymnastics filed for Chapter 11 Bankruptcy. https://people.com/sports/usa-gymnastics-files-for-bankruptcy/ The Chapter 11 is to allow USA Gymnastics to reorganize and to deal with claims in the wake of the multple sex abuse allegations. USA Gymnastics...
Sears Bankruptcy Includes Closing NJ Stores
Sears filed bankruptcy on October 15, 2016. According to Wikipedia, Sears was the largest retailer in the US until 1989 when it was passed by Walmart and was now 23rd largest. Recent financial changes led to the closing of the Sears at the Hamilton Mall in Atlantic...

