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Essex County Bankruptcy Blog

Filing for Bankruptcy: Going Pro Se is a Difficult Road

use - going pro se 2.jpgWhile you can file for bankruptcy without an attorney, it is not recommended unless you have an in-depth grasp of bankruptcy law and the many intricate details involved in the process. There is a learning curve involved to understand all aspects of filing for Chapter 7 or Chapter 13 bankruptcy. Without a skilled bankruptcy attorney, this learning curve is usually extremely time-consuming and challenging. Before you get started, it is important to seek expert advice on whether bankruptcy is right for you and if so what type of bankruptcy.

Do I Have to List Debts to Families & Friends in My Bankruptcy?

Do I have to List Debts to Families & Friends in My Bankruptcy.jpgHonesty is the best policy when it comes to dealing with the bankruptcy court and communicating with the bankruptcy trustee. The Trustees usually have enormous experience in working with debtors, and know when someone is not truthful. It is therefore critical that you be entirely truthful in your petition.

Bankruptcy: What is the Limit on Assets for Chapter 13 Eligibility?

Bankruptcy What is the Limit on Assets for Chapter 13 Eligibility.jpgWhile many debtors find Chapter 7 bankruptcy to be an attractive choice for filing due to the discharge available in three to six months, if they cannot pass the Means test, they must file for Chapter 13 instead. Known as the income-based bankruptcy, Chapter 13 offers many different benefits to the filer; for instance, if your home is under threat of foreclosure, it will be stopped immediately with the automatic stay, an injunction which prohibits creditors from pursuing any collections activity throughout the duration of the bankruptcy. If you are behind on payments, they can also be included in the repayment plan, allowing you to catch up-if you are also making your normal monthly.

Understanding the Different Types of Bankruptcies

Thumbnail image for Understanding the Different Types of Bankruptcies.jpgUnless you have filed for bankruptcy previously or are an experienced bankruptcy attorney, you probably have many questions about the differences between Chapter 7, Chapter 11, and Chapter 13 bankruptcies, whether one would be right for your situation.

Chapter 7 & Chapter 13 Bankruptcy: Three Fears That Keep Debtors from Filing

Chapter 7 & Chapter 13 Bankruptcy Three Fears That Keep Debtors from Filing.jpgThere is often a lot of emotion attached to how and when we spend money. For instance, we spend when we are happy, we indulge in retail therapy when we are bored or sad, and we may even feel depressed when we cannot pay the bills. While mismanagement of money is sometimes the reason for our financial downfall, more often it is due to an unexpected life event like a major illness, car accident, loss of job, or even divorce.

NJ Supreme Court Rules that Mortgage Company Must Provide Mortgage Modification if Homeowner Complies with Settlement Agreement

home.jpgOn July 31, 2017, the New Jersey Supreme Court in GMAC Mortgage, LLC v. TamiLynn Willoughby said that the Chancery and Appellate Courts incorrectly found that a settlement agreement between a homeowner and GMAC Mortgage, LLC was provisional and not enforceable, which ultimately led to her home being sold to GMAC at a sheriff's sale for $100.00. In a unanimous opinion, the Supreme Court reversed that result and enforced the agreement.

Over 65 & Being Foreclosed On--What is the Best Course of Action?

Over 65 & Being Foreclosed On.jpgMost Americans dream of retiring comfortably one day. Often, that is the motivation that keeps so many of us focused on the daily work grind, commuting to work, long hours and other sacrifices. While working for the same company for 40 years and then retiring at 65 with the gold watch and a sendoff to Florida may not be in the cards for most anymore, you probably still envision a more relaxed lifestyle in those much anticipated 'golden years.'

After Bankruptcy: Plan for Good Financial Health

after bankruptcy plan.jpgIf you are considering bankruptcy or have just filed, you are probably looking forward to exiting a dark time. Financial problems can happen to anyone-but no matter the level of accomplishment or income you may have achieved, people often feel embarrassed when they file Chapter 7 or Chapter 13 bankruptcy. Hundreds of thousands of people file bankruptcies every year in the United States, often doing so after years of struggling to keep up with the ever-increasing cost of living. And as you may have experienced, mild financial problems escalate quickly when an unexpected (and expensive) event occurs like the loss of a job, illness, divorce, and more.

Managing Your Stress Levels When Money is Tight

Managing Your Stress Levels When Money is Tight.jpgYou can probably relate to the ups and downs of trying to get by financially today. Millions of others around the US are feeling the stress of balancing the household budget also, especially as the cost of living continues to rise while wage increases for many either are insufficient or are completely nonexistent. The way we feel when we have a positive grip on our finances can be hard to describe-but the reverse can often be defined as disturbing, anxiety-inducing, and downright nightmarish. Much of this stems from feeling helpless-and you very well may be somewhat helpless to pay numerous bills, especially if you have been hit hard by a medical issue, unemployment, divorce, overwhelming student loan debt and more.

On the Verge of Bankruptcy & Divorce: Filing with a Strategy in Mind

on the verge of.jpgAs most will attest, marriage and money can be a complex combination. When you got married, you and your spouse likely merged finances with a positive outlook, looking forward to all the benefits of a strong partnership. As the years pass though, there are inevitable challenges which must be weathered together-and finances are often connected to them in one way or another.

Our bankruptcy attorneys will help you escape debt and
face the future with optimism.

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