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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....
If you are having a tough time paying your bills, bankruptcy might be a way for you to eliminate some or all of your debt. You must pass the bankruptcy means test to be eligible to file a Chapter 7 bankruptcy. The only times you do not have to pass the means test is...
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...
An individual does not usually choose to file a Chapter 11 bankruptcy. If they do choose to file for Chapter 11 it is because they do not qualify for a Chapter 7 or a Chapter 13 bankruptcy. The reason it is less popular is that a Chapter 11 bankruptcy is a more...