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As a small business owner, you have put your time, money and energy into building your business. If your small business is struggling with unmanageable debt, bankruptcy might provide a way to address the debts, Bankruptcy is not a one-size-fits all solution. The right...
If you are having difficulty paying your bills, filing might help you get rid of some if not all your debt. To be eligible to file a Chapter 7 bankruptcy you must pass the bankruptcy means test. The only time you don’t need to pass the means test is when most of your...
As Americans are living longer, financial challenges as we age are becoming more common. Even if you have spent your entire life working hard, making sound financial decisions and saving money, the combination of increased healthcare costs, inflation and reduced...
At Levitt & Slafkes, P.C. we stress to our clients the importance of being honest when listing their assets in a Chapter 7 Bankruptcy. Bankruptcy is truly meant to help the honest debtor. It is a big mistake to intentionally hide assets when you file bankruptcy....
The start of a new year can bring renewed hope and the motivation to create a meaningful change. If you are starting 2026 feeling overwhelmed by bills you can't pay, stressed by harassing creditor calls and texts, or afraid of losing your house or car, bankruptcy...
We are often asked whether married couples must file bankruptcy together. The short answer is no. Married couples are not required to file bankruptcy together. Whether you should file jointly, individually, or not at all depends on your unique financial situation. At...
If you haven’t been able to pay your bills and creditors have gotten judgments against you, it is likely that judgment liens have been placed against your home. A common question we hear at Levitt & Slafkes, P.C. is, “will filing bankruptcy remove the judgment...
If you’re thinking about filing bankruptcy, one of your main questions is likely whether the bankruptcy will get rid of your debt. This answer depends a lot on whether your debt is secured or unsecured. In this blog, we’ll discuss the difference between secured and...
If you can’t pay your debt and are not eligible or shouldn’t file a Chapter 7 bankruptcy, a Chapter 13 bankruptcy might be right for you. Chapter 13 can also help you if you are behind on your mortgage and want to save your home from foreclosure. This blog will...
Most people who file a NJ Chapter 7 Bankruptcy get to keep all or almost all of what they own. Bankruptcy exemptions determine what property you can keep. The Bankruptcy Code Section 104(b) provides that exemption amounts and other dollar amounts are adjusted for...