Blog

Jul 6, 2023

Can You Keep a Credit Card? Can You Get a New One after a Bankruptcy? Unmanageable credit card debt is a common cause of many personal bankruptcy filings. But what if you don’t have significant outstanding credit card debt. Maybe you had an injury or illness and required extensive medical care, which wasn’t covered by insurance. Maybe you lost your job or went through a divorce. Can you file for personal bankruptcy and limit the...

Rebuilding Your Credit after Bankruptcy

Jul 6, 2023

Reestablishing a Good Credit Rating after a Chapter 7 or Chapter 13 Filing When you seek protection from creditors through Chapter 7 or Chapter 13, your credit score is going to take a hit—it simply can’t be avoided. But that doesn’t mean that you’ll have to spend the rest of your life paying cash for everything. Though it can take some time, and usually requires hard work and attention to detail, you can boost your...

Discharging Medical Bills in Bankruptcy

Jun 6, 2023

Permanently Eliminating the Obligation to Payment Medical Debt You’ve been seriously injured in a slip and fall or motor vehicle accident, and your insurance company won’t cover all the costs of your medical care. As a consequence, your medical bills are mounting and you’ve started receiving harassing phone calls and letters from medical providers. It’s a far-too-common occurrence. Statistics show that millions of Americans incur substantial unreimbursed medical expenses every year, and that many of...

Factors to Consider before Filing for Bankruptcy

Jun 6, 2023

Helping You Decide Whether to Seek Protection You’ve suffered an injury or you have an illness. Maybe you can’t work or you’ve incurred thousands of dollars in medical bills that your insurance company won’t reimburse. You’ve tried to work out agreements with your creditors, but they are unwilling to meet you halfway. Is bankruptcy your next step? What factors should you consider before seeking the services of an experienced bankruptcy lawyer? What Financial Resources Do...

Choosing between the Federal and State Bankruptcy Exemptions

May 15, 2023

Making the Right Decision in a New Jersey Chapter 7 Bankruptcy Filing When you qualify to file for protection under Chapter 7 of the American bankruptcy laws, you’ll have the right to permanently rid yourself of many of your debts. In exchange, though, you’ll be required to relinquish some of your assets to the bankruptcy court. The court will then sell those assets and distribute the proceeds to your creditors. Under both state and federal...

The Advantages of Filing a Chapter 13 Bankruptcy

May 15, 2023

How a Debtor’s Reorganization Can Help You Get a Fresh Start You’re struggling to make ends meet and have been considering filing for bankruptcy protection. You’ll generally have a couple of options—the discharge of debt through a Chapter 7 filing and the restructuring of your obligations under Chapter 13. Why would you choose a Chapter 13 petition over Chapter 7? What benefits are available under Chapter 13? Keeping Your Property The most compelling reason for...

Property that Can Be Protected in a Chapter 7 Bankruptcy

Apr 15, 2023

Minimizing the Loss of Property in a New Jersey Liquidation Proceeding When you file for protection under Chapter 7 of the bankruptcy laws, you have the right to permanently discharge certain debts, so that you’ll never have to make payments on them again. In exchange for that benefit, the law requires that you transfer some of your assets to the bankruptcy court, to be sold to provide some compensation to your creditors. You won’t have...

Debts that Are Difficult to Extinguish in a Bankruptcy Filing

Apr 5, 2023

Making Certain You Get the Maximum Benefit from a Bankruptcy Petition You’re struggling to meet your financial obligations, whether because of the loss of a job, an unexpected illness or other personal crisis. When you compare your two primary options—Chapter 7 and Chapter 13—the ability to permanently discharge debts in Chapter 7 can be very appealing. It’s important to understand, though, that some debts cannot be discharged under any circumstances, while others may only be...

Dispelling the Myths Surrounding Bankruptcy

Mar 12, 2023

Debunking the False Information about Your Rights under Chapter 7 and 13 You’ve lost your job or you’ve been hurt and can’t work. You’re falling further behind in virtually every financial obligation and there are no realistic prospects for a change of fortune. You’ve been considering seeking protection under the American bankruptcy laws, but you’ve been scared off by a lot of the things others are telling you— That you’ll be left with nothing That...

What is the Automatic Stay in Bankruptcy?

Mar 3, 2023

How Does It Protect You? When Does It Go Into Effect? What Happens If It Is Violated? When you’re struggling to meet your financial obligations, whether as a result of an injury or illness, the loss of a job, or a divorce, one of the most difficult challenges you’ll face is the virtual barrage of phone calls, letters, emails, text messages and other communications from creditors. You can find it difficult to go to the...