Blog
- What Happens When a Creditor Violates the Automatic Stay
Feb 26, 2024
What Are the Consequences for the Creditor? How Do You Protect Your Rights? For many who file, one of the important benefits of a bankruptcy petition is the automatic stay, which goes into effect immediately and prohibits creditors from taking any action outside of the bankruptcy proceeding to collect on a debt. That includes calling, writing, filing or proceeding with a lawsuit of any kind. Unfortunately, far too often, a creditor will contact you after...Read More - Will a Chapter 7 Bankruptcy Affect Your Retirement Assets?
Feb 21, 2024
Are Funds in a Qualified Plan a Part of Your Bankruptcy Estate? When you qualify to permanently discharge debts through a Chapter 7 bankruptcy petition, you must make some of your assets available to the bankruptcy court, to be used to pay some of your debt to your creditors. In New Jersey, you can claim exemptions for real property, a car and a certain amount of personal property. What about your retirement accounts? Will your...Read More - Determining Whether Bankruptcy is the Best Option
Jan 24, 2024
The Factors to Consider before Pursuing Bankruptcy Protection You’ve been struggling to meet your financial obligations, perhaps as a consequence of a serious illness or injury, or maybe due to the loss of a job. You’ve always been able to work through any financial difficulties before, but this time there seem to be few options other than bankruptcy. How do you know if seeking protection through Chapter 7 or Chapter 13 is the right thing...Read More - Mistakes to Avoid When Considering Filing for Bankruptcy
Jan 17, 2024
Common Pitfalls People Make before Seeking Protection Seeking protection through a Chapter 7 or Chapter 13 bankruptcy can help you get a fresh financial start. That’s precisely why lawmakers put these laws in place, so that you won’t be permanently affected by the costs of uninsured medical care, the loss of a job or other circumstances beyond your control. It’s important, though, that you take the right steps, even before you file your petition, so...Read More - The Benefits of Hiring an Experienced Bankruptcy Lawyer
Nov 8, 2023
Don’t Make the Mistake of Handling Your Own Bankruptcy Filing If you’re facing financial difficulties, but you don’t own much property or your situation seems pretty straightforward, you may think you can accomplish your objectives and save some money by handling your bankruptcy on your own. That would be a mistake. Even when the situation seems relatively uncomplicated, there are many benefits to having a proven bankruptcy attorney. How a Bankruptcy Lawyer Can Help Protect...Read More - What You Want in a Bankruptcy Attorney
Nov 8, 2023
Making Certain You’ve Hired the Right Bankruptcy Counsel Are you struggling to meet your financial obligations, either because of an illness that wasn’t fully covered by insurance, by a divorce or by the loss of a job? Are your prospects for a quick financial turnaround slim? Have you considered filing for bankruptcy, but don’t know where to start? If you’ve never hired a lawyer before, the process of finding the right attorney for your situation...Read More - The Effect of Bankruptcy on a Contractual Obligation
Oct 9, 2023
Will the Contract Automatically Be Terminated? If you’re struggling to make ends meet, but working hard to improve your financial situation, you may find it in your best interests to seek protection in bankruptcy, even though you have leases or contracts that generate income for you. As a general rule, those leases and contracts will be considered property and must be included in your bankruptcy estate. Will they automatically terminate with the filing of a...Read More - Can You Keep Lottery Winnings When Filing for Bankruptcy Protection?
Oct 9, 2023
Will Lotto Winnings Be a Part of Your Bankruptcy Estate? Winning the lottery can be the answer to your financial challenges, provided that you hit it big. But what happens when the prize is smaller, but still significant? Will you be able to keep your winnings or will the bankruptcy court take your money and use it to pay off your creditors? It depends. The Important Question—When Did You Buy the Ticket? Here’s a fundamental...Read More - What to Look for When Hiring a Bankruptcy Attorney
Aug 7, 2023
The Factors You Want to Consider When Retaining Bankruptcy Counsel You’ve been hurt or diagnosed with an illness that prevents you from working. Maybe you’ve lost your job or find yourself in the middle of a divorce. If you’re struggling financially with no realistic expectation that things will get better anytime soon, a personal bankruptcy filing may be what you need to get a fresh start. If you’ve never been through the process before, you...Read More - Preparing for Your First Meeting with a Bankruptcy Lawyer
Aug 7, 2023
What You Can Expect and What You Need to Bring When your financial situation has deteriorated and there’s no reasonable prospect for immediate relief, a bankruptcy filing will often be the best way to get a fresh financial start. It’s important, though, that you go into the process with a strong commitment to putting the past behind you. To get the most out of the bankruptcy process, you want to be as prepared as possible...Read More