When you are struggling financially, you may be wondering if you have sufficient debt to qualify for bankruptcy protection. The good news is that there is no minimum amount of debt required to file a Chapter 7 or Chapter 13 case. Your eligibility to file a personal...
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Year: 2014
5 Mistakes to Avoid Before Filing Your Bankruptcy
When you are preparing for a bankruptcy filing, there are certain mistakes you want to avoid. Failure to do so could result in your bankruptcy discharge being less effective and, in more serious cases, render you ineligible to obtain a discharge of your debt. Below...
What Debt Can I Eliminate in Bankruptcy?
When we meet with new clients, we are often surprised at the amount of confusion and misunderstandings that surround the topic of bankruptcy. There has been a lot of discussion lately about what types of debts cannot be discharged in bankruptcy, so this blog will...
Don’t Let Credit Card Debt Take Over!
Many of our clients have been responsible with their finances all of their lives, but they had an unexpected negative event occur in their life that devastated them financially. The most common examples of negative events that lead to a bankruptcy filing are loss of a...
Can I Keep My Car in Bankruptcy?
Many people who meet with us want to know if they can keep their car if they file for Chapter 7 bankruptcy. This is very important because the car is needed for many people to get to work or to school As with most things, the answer is "it depends." However, most...
Bankruptcy Basics
On November 17, 2014 our very own Bruce Levitt will be the moderator and a speaker at a seminar sponsored by the New Jersey Institute for Continuing Legal Education (ICLE) called "Bankruptcy Basics 2014." This program is designed for lawyers who do not handle...
Buying a Home Post-Bankruptcy
One of the most common questions we get from our clients is whether they can buy a home after filing for bankruptcy, and if so, how long they must wait to be eligible to do so.The short answer to the first question is "yes," you will be able to buy a new home...
Post-Bankruptcy Budgeting Tips
When you emerge from bankruptcy, you have a fresh financial start. Thus, it is important to have a clear strategy for re-establishing good credit and finances after bankruptcy. Below are a few tips to consider: Establish your household budget. It is important for your...
How Bankruptcy Can Improve Your Health
When you are facing financial troubles, it can result in a wide variety of emotions. Financial distress often causes embarrassment, depression, shame and anger. Allowing these emotions to build and go unresolved can have a significant negative impact on your health....
Should Your Elderly Parent File Bankruptcy?
If you are like many adults, your role with your parents has shifted. You are now the caretaker and they are in need of your assistance. When you have a parent that is struggling financially, it is natural to want to help them. In today's economy, many grown children...