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 … [Read more...]
The Section 341 Meeting of Creditors in Bankruptcy
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 … [Read more...]
What Property Can You Keep in a New Jersey Bankruptcy?
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 … [Read more...]
The Role of the Trustee in a Consumer Bankruptcy
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 … [Read more...]
No-Asset Chapter 7 Bankruptcy in New Jersey
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 … [Read more...]
How Does the Means Test Work for Chapter 7 Bankruptcy?
How Does the Bankruptcy Court Determine Whether or Not You Qualify? When you’re struggling to meet your financial obligations and have determined that a personal bankruptcy filing is your best chance for a fresh start, you may have a couple of … [Read more...]
Do You Still Have to Pay Your Bills When You’ve Filed for Bankruptcy Protection?
Does the Automatic Stay Mean You Don’t Have to Pay Your Debts? When you file for personal bankruptcy, whether you’re seeking to permanently discharge debts in Chapter 7 or want to set up new payment arrangements through Chapter 13, the automatic … [Read more...]
Will a Chapter 7 Bankruptcy Affect Your Retirement Assets?
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 … [Read more...]
Mistakes to Avoid When Considering Filing for Bankruptcy
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 … [Read more...]
