bankruptcy

Understanding Chapter 7 Bankruptcy in New Jersey: A Step-by-Step Guide

Bankruptcy, bankruptcy filing, Chapter 7 /

Introduction Bankruptcy can be a daunting and complex process, but for many individuals facing financial hardship in New Jersey, Chapter 7 bankruptcy offers a fresh start and relief from overwhelming debt. If you’re considering this option, it’s crucial to understand the process thoroughly. This step-by-step guide will walk you through the key aspects of filing […]

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Gambling Debts and Bankruptcy, Are They Dischargeable?

Bankruptcy, Bankruptcy discharge, bankruptcy filing, Bankruptcy Fraud /

Gambling and bankruptcy frequently go hand-in-hand. The unmistakable excitement, the regret, and the worry of facing the reality of losing everything were the causes of one’s miseries. These circumstances appear to be occurring as gambling becomes more accessible with the rise of internet gambling and fantasy sports. Loss of employment, unforeseen costs, excessive spending, the

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Can I Keep My Cash In A Chapter 7 Or Chapter 13 Bankruptcy?

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Declaring bankruptcy has long-term financial and credit repercussions. If you are one of the many individuals laid off from work, or if you are a businessman who has no chance of regaining your company, bankruptcy is your final resort. Since Chapter 7 and Chapter 13 bankruptcy are two very distinct legal choices with different possible

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How Bankruptcy Can Help With Cars You Can No Longer Afford?

Bankruptcy, bankruptcy filing, Chapter 13, Chapter 7 /

Two main types of bankruptcy are Chapter 7 and Chapter 13. These procedures help people liquidate some of their assets and pay off their debts. While chapter 7 generally involves selling some of your assets, chapter 13 is focused on paying off other debts. If you own a car, the vehicle may be affected by

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Can I Discharge a Loan I Used to Start a Business in New Jersey?

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Have you ever taken the time to notice how many small businesses close their doors while major corporations always manage to stay financially comfortable? Consider a specific scenario: when an individual was given a bank loan to start their business in New Jersey.  An unexpected hurdle hindered them from paying off the remaining balance of

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Do Married Couples Have To File For Bankruptcy Together?

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Under bankruptcy law, married couples can file a joint bankruptcy petition. But, it is not typically the best option for many couples. Sometimes, it makes sense for married couples to file for bankruptcy jointly. However, it can be hard to do since both spouses must include their income in the individual bankruptcy. On the other

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What You Need to Know About Keeping Investment Property In Chapter 13 Bankruptcy

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You can safeguard all your properties if you file for Chapter 13 of the bankruptcy law. However, this does not guarantee that you’ll never have to pay a portion of it. Read more to know. What You Can Do Under Chapter 13 Bankruptcy You can retain, or explicitly exclude or exempt, limited equity of the

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You Must File Bankruptcy In Good Faith, Not As An Attempt To Game The System

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Anyone who declares bankruptcy is presumed to be acting in good faith. Ideally, this is to be using the procedure as intended (a means of assisting debtors in controlling their debt and finances again). A bad faith filing, on the other hand, arises when someone attempts to game or exploit the system for purposes other

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