Personal Bankruptcy

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...

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...

Sometimes a bankruptcy is filed after a judgement has already been entered. If the debtor owns real estate then the judgement will be a lien on the real estate. If there is not excess equity and the equity is claimed as exempt, then the judgement can be voided during...

Deciding to file a bankruptcy is a difficult decision for people for several reasons. First, many people hope to never have to file a bankruptcy. But it is also a difficult decision because people are not sure if they have reached the stage where it makes sense. Are...

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...

When people reach the point of contacting a bankruptcy attorney, often their circumstances include not only overwhelming debt, but low credit scores from multiple defaults and late payments. The bankruptcy will not only address the debt issue, but by eliminating the...

Bankruptcy exemptions are used to protect assets when a bankruptcy is filed. For example, a Chapter 7 bankruptcy is also called a liquidation but the reality is assets are only liquidated if there is equity in the assets and the assets are not exempt. New Jersey and...

While there are circumstances where debt settlement may make sense, in most circumstances personal bankruptcy has more  advantages. For example, in most chapter 7 bankruptcies, nothing is paid to unsecured creditors. In addition, individuals in New Jersey and...

The Fair Debt Collection Practices Act can be used to stop or punish creditors and debt collectors from harassing relatives and friends. Financial struggles often make it impossible to keep up with credit cards and other bills. While bankruptcy often would help...