The decision to seek bankruptcy relief is difficult, but it comes from a place of necessity and strength. When deciding to file a Chapter 13 bankruptcy it is important to have a clear understanding of the process. Chapter 13 Bankruptcy Chapter 13 bankruptcy basically...
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Chapter 13 Bankruptcy
How Does A NJ Chapter 13 Bankruptcy Work
If you are drowning in debt but aren’t eligible or shouldn’t file a Chapter 7 bankruptcy, a Chapter 13 bankruptcy might be for you. This blog will explain what a Chapter 13 bankruptcy is, who qualifies and what the process is like. Qualifications to File a Chapter 13...
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...
Chapter 13 Debt Limits Increased Again on June 21, 2022
On June 21, 2022 the President signed into law the Bankruptcy Threshold Adjustment and Corrections Act . Among other things the Act increased the Chapter 13 debt threshold to $2.75 million. Both secured and unsecured debt counts towards this single limit. Previously...
New Debt Limits for Chapter 13 Became Effective April 1, 2022
While there are several kinds of bankruptcy, most people file either a Chapter 7 or a Chapter 13 bankruptcy. Chapter 13 is often used for individuals with regular income that have a large amount of equity in a home or a car and wish to keep those assets. In a NJ...
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,...
What Can I Spend Money on When Planning on Filing Bankruptcy in NJ?
If you are thinking of possibly filing bankruptcy in the near future, you might be wondering whether there are limits on how you can spend your money and on what you can spend it. The general answer is that you should be careful as to how you spend your money before...
10 Things You didn’t know about the NJ Foreclosure Process
The foreclosure process in NJ can be very confusing and scary. In the more than 30 years that we have helped people save their homes, as foreclosure attorneys in NJ, we have been asked many questions about the NJ foreclosure process. This blog will address 10 of the...
Understanding the Different Types of Bankruptcies
Filing for bankruptcy means you are unable to pay your existing debts. If you successfully file for bankruptcy, your existing debts are cancelled, which allows you to rebuild your finances and move forward. However, unless you have filed for bankruptcy previously or...