New Jersey Bankruptcy and Foreclosure Defense Law Blog
What Happens When You Declare Bankruptcy?
Given the current economic climate, many Americans are forced to consider what happens when you declare bankruptcy. Whether a job loss, illness, divorce, or another unexpected turn of events has you looking at bankruptcy, here's your guide to understanding the...
Bankruptcy & Divorce : 5 Things to Consider in Deciding Which to File First
Bankruptcy & Divorce are two of life’s most difficult challenges. They often occur together as financial stress might lead to divorce and divorce itself might cause financial problems. As a result, you may be thinking about filing for both bankruptcy and divorce...
3 Things to Consider When Your Small Business Can’t Pay its Debts
As a result of the pandemic many small businesses have shut their doors and many more are struggling to survive. A significant number of small businesses continue to accumulate debt and many cannot meet the day to day expenses necessary to continue operating. Small...
Owner of Triple Crown Winner American Pharoah Files for Personal Chapter 7 Bankruptcy in New Jersey
Many Americans are currently struggling to get by or are just barely hanging on. If you have fallen behind on paying your credit cards, medical debt, rent or other bills it is important to know you are not alone. Many famous people have filed for bankruptcy in order...
5 Options that may be Available after a Mortgage Forbearance Ends
Mortgage Forbearance 101 A mortgage forbearance is when your mortgage servicer or your lender allows you to stop or reduce your mortgage payments for a limited period of time. Your mortgage servicer is the company to which you send your mortgage payments. A mortgage...
Can I Get Rid of My COVID-19 Medical Debt in Bankruptcy?
There have been many news stories about people receiving large bills as a result of COVID-19 care. Hopefully you are not one of them. This really causes double financial problems-loss of income as a result of being sick and medical bills. Sometimes this result from...
Extra $600 CARES Act Unemployment is Over. Should I Use My Retirement Money to Pay Credit Card Debt?
The CARES Act, passed by Congress in response to COVID-19, eliminated the penalty for early withdrawal of retirement funds. This was done to provide a source of assets for those struggling to pay their bills. The extra $600 weekly federal unemployment supplement that...
My PPP Loan Proceeds Are Being Used Up: What Next?
According to a recent Goldman Sacks survey, by the first week of August approximately 84% of businesses will have exhausted the loans that they have received from the government through the Paycheck Protection Program (“PPP”). Yet, New Jersey remains in Stage Two of...
New Jersey Allows Foreclosure Judgments to be Entered
Early on in the COVID-19 pandemic the New Jersey courts placed a hold on the entry of final judgments of foreclosure. That meant that although foreclosures were allowed to be filed, the cases could proceed only up to the filing of a motion for a final foreclosure...
Attorney Bruce Levitt Wins a Lawsuit and Helps a Family Get Back Their Home Lost to a Tax Lien Foreclosure
Bruce Levitt of Levitt and Slafkes is proud to announce a victory in New Jersey State Court in the case of BV001 REO Blocker, LLC v. HB (USA) Properties, LLC, Docket No. F-002097-19 (Sup. Ct. N.J. April 17, 2020), where he successfully vacated a tax lien foreclosure...