One of the most common questions debtors ask before filing for bankruptcy is whether they should stop paying their bills or other expenses. After all, if you are already struggling to make ends meet and anticipate having your debts discharged, it may seem like a waste...
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Statute of Limitations: Is There a Time Limit on Debt Collection?
No matter who you are, getting a call from a debt collector can be a daunting experience. Just because you owe a debt, however, does not always mean that you are legally obligated to pay it. Under the law, creditors have a window of opportunity to file a lawsuit to...
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...
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...
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...