Individuals Can File Chapter 11 Bankruptcy Contrary to popular belief, Chapter 11 bankruptcy is not just for businesses. Individuals can file bankruptcy under Chapter 7, Chapter 13, , or Chapter 11 of the Bankruptcy Code. Individuals usually only file Chapter 11...
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Bankruptcy Basics
Chapter 7 & Chapter 13 Bankruptcy: Three Fears That Keep People from Filing
There is often a lot of emotion attached to how and when we spend money. For instance, we spend when we are happy and often also indulge in retail therapy when we are bored or sad. While mismanagement of money is sometimes the reason for our financial downfall, more...
New Guidelines Make It Easier to Discharge Student Loans in Bankruptcy
It Just Got Easier to Discharge Student Loans On November 17, 2022 the Biden Administration announced new guidelines in how federal student loans will be treated in bankruptcy. The goal is to make the process for discharging student loans more consistent, clearer, and...
6 Questions to Ask a Bankruptcy Attorney at Your First Appointment
Curious about how bankruptcy works and if it might be right for you? The first step is to set up a consultation with an experienced NJ bankruptcy lawyer. Many people are nervous about this first meeting since it involves discussing something as personal as their...
Guide to Bankruptcy Options for Your Small Business
Small business owners put their heart and soul into starting and maintaining their small businesses. The COVID-19 pandemic has had a significant and unfortunate impact on many small businesses. If your small business is struggling with debt, filing a bankruptcy might...
Will My Employer Find Out About My Bankruptcy
Are you thinking about filing bankruptcy and want to know if your employer will find out? Although all NJ bankruptcies are public record, there are only certain times that your employer will definitely find out. As you consider this path, it is important to know that...
What Deadlines Are There in a NJ Bankruptcy?
There are a number of important deadlines that it is important to be aware of in a NJ Bankruptcy. These deadlines will be included in the Notice of Bankruptcy Filing (Notice), which will be issued by the Court when you file your NJ Bankruptcy. This Notice...
All About Exemptions: An Exploration of Which Assets I Can Keep If I File a NJ Chapter 7 Bankruptcy
Most People Keep All of their Property After a Chapter 7 Bankruptcy A person who files bankruptcy, known as a debtor, is allowed to keep a certain amount of property in order to get a fresh start after bankruptcy. The property a debtor is allowed to keep is called...
Bankruptcy Code Exemption Amounts Increased April 1, 2022
Most people who file a NJ Chapter 7 Bankruptcy get to keep all or almost all of their assets. What property can be kept is determined by bankruptcy exemptions. Bankruptcy exemptions determine what property you can keep. The Bankruptcy Code Section 104(b) provides that...
Debt Consolidation vs. Bankruptcy: Which is Your Best Option?
Are you in debt and unable to pay your bills? If so, it’s probably time to learn about what options are available for you to get rid of your debt. Bankruptcy and Debt Consolidation are two of the most common ways people get rid of their debt. We are often asked,...