Blog
- Can You Use Chapter 7 to Permanently Rid Yourself of Medical Debt?
Aug 30, 2024
Getting a Fresh Start When You’re Overwhelmed by Medical Bills You’ve been sick or gotten hurt in an accident, and you’ve needed extensive medical care, some of it unreimbursed by insurance. As a result, you’ve run up substantial medical bills, which you simply can’t pay while also meeting the costs of your basic needs. You may even be unable to work because of your health issues. Every time the phone rings, you get a pit...Read More - Will a Bankruptcy Filing Permanently Ruin Your Credit Rating?
Aug 21, 2024
The Short- and Long-Term Impact of a Bankruptcy on Your Ability to Obtain Credit There’s a common misconception that filing for bankruptcy protection will be the death of your credit rating, that you’ll be forced to pay cash for everything for the rest of your life. That’s simply not true. Though the immediate consequences will make it difficult or impossible to secure any type of credit for a period of time, there is life and...Read More - Choosing to File a Chapter 13 Bankruptcy Petition
Jul 31, 2024
When Might You Want to Reorganize Debt Even Though You Qualify for Discharge Under Chapter 7? As a consumer, you have two general options when filing for bankruptcy protection. If you qualify, you can seek to permanently discharge your debts in a Chapter 7 proceeding. If not, your only option is to restructure or reorganize your debt through Chapter 13. If you meet the test for Chapter 7, should you automatically go that route? Are...Read More - The Section 341 Meeting of Creditors in Bankruptcy
Jul 29, 2024
The Purpose of the Meeting | Preparing for the Meeting When you seek protection in bankruptcy—whether you hope to permanently rid yourself of debt through Chapter 7 or restructure debt under Chapter 13—one of the hearings you must attend is the Section 341(a) meeting of creditors. The meeting is typically conducted by the bankruptcy trustee. Your attorney and counsel for creditors may also appear, though creditors often don’t attend. What Is the Purpose of the...Read More - Happy 4th of July 2024
Jul 4, 2024
On this Independence Day, let us all aspire to those principles that make our nation great—freedom, liberty, and justice for all. We wish you a safe and happy holiday with loved ones...Read More - What Property Can You Keep in a New Jersey Bankruptcy?
Jun 28, 2024
What Are the New Jersey State Exemptions in a Chapter 7 Bankruptcy? As a consumer, when filing for bankruptcy protection, you can seek to reorganize your debt under Chapter 13 or, if you qualify, you can permanently rid yourself of some of your obligations through Chapter 7. If you meet the requirements to discharge your debts under Chapter 7, you’ll also have to relinquish property to be sold by the bankruptcy trustee, with the proceeds...Read More - Common Mistakes to Avoid When Filing for Bankruptcy
Jun 26, 2024
Doing These Things Can Jeopardize Your Rights You’ve been struggling to keep your head above water financially, and you’ve finally concluded that your best path for moving forward is through a personal bankruptcy filing. It’s a difficult decision, but one that can help you get the relief you need and give you a fresh start. You need to be careful, though, that you don’t do certain things that might get you in trouble with the...Read More - The Role of the Trustee in a Consumer Bankruptcy
Jun 24, 2024
What Is the Function of the Bankruptcy Trustee in a Chapter 7 or Chapter 13 Petition? When you have decided to seek protection from creditors in bankruptcy, whether you’re hoping to permanently discharge debts under Chapter 7 or make new payment arrangements through Chapter 13, you’ll be working with a bankruptcy trustee at some point. What is a bankruptcy trustee? What are the responsibilities of the trustee? What Is a Bankruptcy Trustee? A bankruptcy trustee...Read More - No-Asset Chapter 7 Bankruptcy in New Jersey
Jun 18, 2024
What Is It? Is It Different from Other Chapter 7 Filings? With limited exceptions, when you are struggling to meet your personal financial obligations, you have two potential paths to use American bankruptcy law to get a fresh start: liquidation or discharge of debt under Chapter 7 or restructuring/reorganization of debt through Chapter 13. Eligibility for Chapter 7, though, is not automatic. You must demonstrate to the court, by submitting to the “means test,” that...Read More - What Is the Process for Filing a Chapter 7 Bankruptcy Petition?
May 22, 2024
What Steps Can You Expect When Seeking to Discharge Debts Permanently? When you’ve lost your job or had an unexpected injury or illness, bankruptcy may be the best way to get a fresh start. If you qualify, you can ask the bankruptcy court to permanently discharge certain debts in exchange for the relinquishment of some of your property. If you are eligible for liquidation of debt under Chapter 7, here’s what you can expect to...Read More