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Robert J. Yonkee Jr., 54, was charged in a federal court with bankruptcy fraud. He allegedly provided false information about his assets and concealed property in his Chapter 7 bankruptcy filing. Mr. Yonkee is facing severe penalties, including 5 years in prison,...
Seventy years ago the New York City Opera was founded. After working to bring opera to the public, it recently was forced to filed a Chapter 11 bankruptcy case. Apparently the Opera's last-ditch effort to raise $7 million fell short. The opera company claimed it has...
On September 18, 2013, our very own Bruce Levitt served as a moderator and speaker at the "Advanced Consumer Bankruptcy" seminar. The focus of the seminar was to educate attorneys on ways to assist consumers struggling with paying their mortgages and daily bills. The...
When you file for Chapter 7 bankruptcy, the automatic stay immediately is effective and protects you from collection activity. Many clients ask what happens to debt that is secured by collateral such as a home, vehicle, boat, motorcycle or other asset. It is important...
When you have a friend, family member or acquaintance that is facing serious financial struggles, it is human nature to want to help. However, if you decide to loan that person money, it is important to understand that you have two options: Consider the "loan" to be a...
If you are currently involved in litigation or you believe a lawsuit will be filed against you soon, you may be curious how a bankruptcy filing can help. There are many issues related to filing a Chapter 7 or Chapter 13 in relation to the timing of a lawsuit, so it is...
Many people are not sure if they make too much money to file for bankruptcy protection. It can be stressful to make a decent salary but to still be overwhelmed with debt. A Chapter 7 bankruptcy allows a debtor to discharge or eliminate unsecured debt such as credit...
When a debtor files for Chapter 7 bankruptcy, the New Jersey bankruptcy courts require certain specific documents to be filed with the court. The skilled lawyers at Levitt & Slafkes can help you complete the required paperwork and ensure that your filing is...
Garnishment is a tool used by creditors to collect money from you after they have obtained a judgment against you. Bankruptcy is a tool consumers can use to discharge or eliminate their debt. Many debtors file for bankruptcy protection as a means for stopping the...
We have all heard the stories of banks improperly foreclosing on homeowners and the "robo-signing" scandals. As a result, banks have been forced to re-examine foreclosures to verify that homeowners did not lose their homes as a result of falsified paperwork or other...