Blog
- Debts You Should Pay While in Bankruptcy
Nov 10, 2022
The Limits of the Automatic Stay One of the most tangible benefits of a personal bankruptcy filing is the immediate application of the automatic stay, which allows you to suspend payment on those debts included in the petition while you either move toward discharge of debts or reorganization. There’s a common misunderstanding, though, that filing for bankruptcy protection means you don’t have to make any payments to creditors until you’ve worked out a payment plan...Read More - Happy Halloween!
Oct 31, 2022
...Read More - Bankruptcy and Repossession
Oct 14, 2022
Can I Use a Bankruptcy Filing to Keep My Car from Being Repossessed? You’re in dire financial straits because of the loss of a job, an illness or injury, a divorce or some other unforeseen challenge. You’re behind on credit card, mortgage and car payments, and you’re scared every time you go out to your car, afraid it will have been repossessed. Can a personal bankruptcy filing stop a repossession effort? Can your lender seek...Read More - Important Questions to Ask before Filing for Bankruptcy
Oct 6, 2022
The Things You Want to Know When Considering Bankruptcy You’re struggling pay your bills because you’ve lost your job or your hours have been cut back to nothing. You can’t see anyway things are going to improve in the near future, so you’ve given some thought to filing for personal bankruptcy protection. Here are some of the most important things you’ll want to know before you file. The Difference between Chapter 7 and Chapter 13...Read More - How Does a Chapter 7 Bankruptcy Petition Affect the Obligation to Pay Your Bills?
Sep 16, 2022
Can You Use the Automatic Stay to Avoid Paying Any Financial Obligations? When you file for protection under the American bankruptcy laws, an automatic stay immediately goes into effect, preventing your creditors from calling, writing or taking any legal action (outside of the bankruptcy proceeding) to collect a debt. Does that mean that you can stop paying all bills? Will the automatic stay prevent all your creditors from trying to collect a debt? Unfortunately, no—while...Read More - Getting the Most Benefit from a Bankruptcy Filing
Sep 8, 2022
Taking the Right Steps to Get a Fresh Start When life throws you a curve…you lose your job or suffer an injury or illness…the stress and anxiety that come with struggling to meet your financial obligations can be exhausting, just making things worse. When you see little hope for a turnaround in the near future, your best option may be a personal bankruptcy filing. If you’ve made that decision, you want to take the right...Read More - Why a Bankruptcy Petition Is a Better Option than Debt Forgiveness
Aug 22, 2022
The Different Tax Implications of Discharge and Debt Forgiveness Let’s face it…there’s a certain stigma associated with filing for protection under the American bankruptcy laws. For that reason, you may think it’s a better idea to work with a debt counselor, someone who will work with your creditors to negotiate some type of forgiveness of your financial obligations. If you have mortgage debt that you can’t pay, you may think it’s best to sell your...Read More - Can You Keep a Tax Refund When You File a Chapter 7 Bankruptcy?
Aug 3, 2022
Are There Ways to Avoid Losing Your Refund to Pay Creditors? You’re facing dire financial circumstances—maybe you’ve lost your job or you’ve been sick or injured. You’ve pretty much decided that the best way forward is through a Chapter 7 bankruptcy, where you can permanently rid yourself of some of your debts. But every penny matters at this point and you have a nice tax refund coming. Can the bankruptcy trustee take your refund, even...Read More - Can You Enforce an Oral Business Contract?
Jul 11, 2022
Are There Agreements that May Only Be Enforced in New Jersey if in Writing? If you are like most small business owners, much of your day is spent on the phone or in meetings. In those conversations, you’ll often come to agreement on terms of a proposed contract. Suppose your discussions meet all the requirements of a valid and enforceable contract: There’s an offer and acceptance Both parties have agreed to give something of value...Read More - Avoiding Preferential Treatments in Bankruptcy
Jul 5, 2022
The Consequences of Selectively Paying Creditors Immediately before Filing When you’re initially facing financial challenges, it’s common to turn to friends and family for assistance. When it becomes clear that your problems cannot be resolved through any means other than a personal bankruptcy filing, you may be inclined to give priority to those friends and family who tried to help you out, paying them back before you file, so that they don’t have to settle...Read More