Which Debts Can Be Discharged and Which Cannot? When you're considering bankruptcy options, the ability to permanently discharge certain debts in Chapter 7 can be very appealing. To qualify for Chapter 7, you must pass the means test by … [Read more...]
How to Be Certain Bankruptcy Is the Right Option
What Bankruptcy Can and Cannot Do for You If you're one of the millions of Americans struggling financially because of the pandemic, you may be considering bankruptcy. There's a common misunderstanding, though, that filing for bankruptcy will allow … [Read more...]
Exempting Property from Chapter 7 Bankruptcy in New Jersey
What You Can Keep and Still Permanently Discharge Debts When you file for bankruptcy protection under Chapter 7, you can permanently rid yourself of certain debts, but there's a tradeoff—you must relinquish some of your assets to the bankruptcy … [Read more...]
Personal Bankruptcy Filings—Can You Keep Your Property?
What Can You Keep If You File Under Chapter 7 or Chapter 13? You may have lost your job because of the COVID-19 pandemic, or other life events—divorce or personal injury, for instance—may be making it difficult to meet your financial obligations. … [Read more...]
Cramdowns in Chapter 13 Bankruptcy Filings
What Is a Cramdown? How Do You Qualify? When you need protection under American bankruptcy laws but don't qualify to discharge debts under Chapter 7, you still can secure significant benefits with a Chapter 13 reorganization. In addition to … [Read more...]
Keeping a Vehicle in a Chapter 7 Bankruptcy Filing
Reaffirming a Car Payment during or after a Chapter 7 Petition As a general rule, in Chapter 7 bankruptcy filings, you can permanently discharge certain debts in exchange for relinquishing unprotected assets to the bankruptcy court. You can always … [Read more...]
