Individuals facing increasing debts or business-owners finding it hard to manage finances are most often found to be considering bankruptcy. Whether it has been the result of over-usage of credit cards or sudden fall in business, the creditors will never take it easy on you if you falter on the repayment plan. This is why, people are seen […]
Why It Is Essential To Consult a New Jersey Bankruptcy Lawyer Read More »
In an ideal world your bankruptcy filing should be plain sailing, with both sides agreeable to the final outcome and the courts findings and final decision, and in most cases that’s exactly what happens. Unfortunately, money is a very powerful motivator for human beings and can cause separate lawsuits to be raised as part of
Adversary Proceedings in Bankruptcy: How Do They Work? Read More »
When you file for bankruptcy the courts appoint an impartial third party, known as a trustee, to manage your bankruptcy filing, including all assets and documentation related to the case itself. The actual responsibilities of the trustee will depend on whether or not you’re filing for Chapter 7 or Chapter 13 bankruptcy. The purpose of
Role of the Trustee in Chapter 13 and Chapter 7 Bankruptcy Cases Read More »
It’s a sad fact of life but your car will devalue more quickly than any other asset in your possession. There’s a commonly held belief that you lose 10% of your car’s value the split second you leave the showroom, which puts forward a strong case for only ever investing in a high-quality, used automobile.
Cramdown of Car Loans in Bankruptcy Read More »
When you file for Chapter 7 bankruptcy all of your non-exempt assets become property of the “bankruptcy estate”. A trustee is then hired to administer this estate, ensuring that all of your assets are managed and liquidated in such a way that creditors would obtain the maximum compensation. There are two basic types of Chapter 7 filing:
What is an Asset Chapter 7 Case Read More »
If, like tens of thousands of others, you’ve found yourself in the unfortunate position of living in a home which is now worth less than the mortgages you’re paying on it then you may want to consider an option of personal bankruptcy. In situations like this you might feel you’re going to be financially crushed
Stripping off Second Mortgages in Bankruptcy Read More »
When you file for bankruptcy, there is an automatic stay put on any pending lawsuits or judgments against you thanks to the protection offered by bankruptcy laws in the United States. This means that any debts or judgments against you which are filed while you’re going through bankruptcy stop immediately, preventing you from having
Judgment Lien After Chapter 7 Discharge Read More »
Having to worry about filing for bankruptcy is already a serious enough problem to face as a single person, but if you’re already married then you will also then need to factor in the impact that the bankruptcy might have on your marriage, and vice versa. In many cases the financial collapse of a couple’s
Marriage and Bankruptcy Read More »