Blog
- When the Automatic Stay in Bankruptcy Does Not Apply
Jan 31, 2020
The Limits of Your Legal Protection in Bankruptcy One of the most attractive features of American bankruptcy law is the “automatic stay” that goes into effect immediately upon filing of a bankruptcy petition. It generally prohibits creditors from calling, writing, filing legal action, or otherwise attempting to collect a debt except through the bankruptcy process. But the automatic stay does not apply to all legal actions—only those to collect a debt. Legal Matters Not Affected...Read More - Facing Unmanageable Medical Debt in Retirement?
Jan 24, 2020
Is Filing Bankruptcy a Good Solution? It’s part of the aging process—our bodies start to break down, and we require additional medical care. With changes in employer-provided health insurance and government programs over the last couple decades, it’s no surprise that medical debt is the single biggest financial challenge facing most older Americans. Because medical debt is unsecured, it can be discharged in a Chapter 7 bankruptcy filing. Is that a good approach? What impact...Read More - Preferences in Bankruptcy
Jan 8, 2020
What Is a Preference? Will It Have an Impact on Your Filing? One of the most significant benefits of American bankruptcy law in the automatic stay, which goes into effect immediately and prohibits creditors from taking any action to collect a debt outside of the bankruptcy proceeding. The bankruptcy court, however, is concerned with more than where you’re headed. There’s also a “look back” period, where the court will review any payments or transfers of...Read More - Contracts That May Be Unenforceable
Dec 25, 2019
Circumstances That Can Invalidate an Agreement As the law of contracts has evolved over centuries, certain requirements have been established to ensure the enforceability of an agreement. Accordingly, a number of situations have been identified where a contract generally will be considered invalid: Where the Purpose of the Contract Is Illegal—The court will not enforce any type of agreement to commit or participate in any illegal activity. For example, if the sale of certain prescription...Read More - Happy New Year 2020
Dec 23, 2019
Wishing you holidays filled with fun and laughter, and very best wishes for a prosperous new year...Read More - The Treatment of Recent Payments in a Bankruptcy Proceeding
Dec 12, 2019
What is a Preference? How Will It Affect Your Bankruptcy Filing? Sometimes you have a pretty clear sense that you’re heading toward bankruptcy, and sometimes you don’t. You may be working hard to get all your vendors paid but unable to get over the hump without the protection of American bankruptcy laws. When you file for bankruptcy, the court and trustee will look carefully not only at your assets but also any disbursements made in...Read More - Cramdowns in Chapter 13 Bankruptcy Filings
Dec 5, 2019
What Is a Cramdown? How Do You Qualify? When you need protection under American bankruptcy laws but don’t qualify to discharge debts under Chapter 7, you still can secure significant benefits with a Chapter 13 reorganization. In addition to obtaining the protection of the automatic stay, which prohibits creditors from calling, writing, or taking any legal action to collect the debt, you also can employ what is known as a “cramdown.” What Is a Cramdown?...Read More - Fraudulent Transfers in Bankruptcy
Nov 29, 2019
What They Are | How to Avoid Them The American bankruptcy laws were established to provide debtors with an opportunity for a fresh start. Bankruptcy allows you either to discharge or restructure debt and protects you from harassment by creditors. But there are rules you must follow that insure the process also is fair to creditors. One of the most important is that you may not make “fraudulent transfers” in anticipation of filing for bankruptcy...Read More - Happy Thanksgiving 2019
Nov 28, 2019
“Let me encourage you to get up every day and focus on what you do have in life. Be thankful for the blessings of the little things, even when you don’t get what you expect.” – Victoria Osteen...Read More - Common Causes of Winter Weather Motor Vehicle Accidents in New Jersey
Nov 18, 2019
How Accidents Happen | Strategies for Avoiding Winter Weather Crashes If you’ve ever driven in New Jersey in the winter months, you know it can sometimes be a daunting task, particularly if there’s been a recent snow or, worse yet, freezing rain. According to the Federal Highway Administration, about one in every four weather-related accidents occurs in winter. Statistics show that winter weather accidents typically are caused by one of three factors: Poor visibility—Sometimes, it’s...Read More