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 […]
Can I Keep My Cash In A Chapter 7 Or Chapter 13 Bankruptcy? Read More »
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
How Bankruptcy Can Help With Cars You Can No Longer Afford? Read More »
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
Can I Discharge a Loan I Used to Start a Business in New Jersey? Read More »
Paying a mortgage for your house is a monthly obligation. However, if it becomes too difficult for you to pay your bills, the best option is to walk away. Simply walking away from your mortgage dues, also known as defaulting, will not solve your problems. There’s a high chance that the lender will sue you
I Am Behind On My Mortgage Payments – Can I File For Chapter 7 And Walk Away? Read More »
If you fall victim to credit card fraud in the state of New Jersey, it would be a hassle on your part if you have debts. A lot of the time, debt collectors will not accept your claim about being a fraud victim. Because of that, they can continue to claim that you are in
Can Bankruptcy Filing Help Amend my Debts for Credit Card Fraud in New Jersey? Read More »
If or when you find yourself in financial difficulty, with creditors knocking on your door, you\’ll have two options for dealing with the situation: 1. File for a Chapter 7 discharge of your debt 2. File for a Chapter 13 debt repayment plan Which of these you choose will depend entirely on your personal circumstances,
What Is A Chapter 13 Hardship Discharge? Read More »
In most cases people can see their bankruptcy coming from a long way off because of their spending habits, and the realization that they are currently living beyond their means. But that’s not always the case. Some people don’t take their debts seriously until they receive communication from a creditor or sheriff, advising them that
What Is An Emergency Bankruptcy? Read More »
Having to declare bankruptcy can feel like you’ve made a series of financial mistakes you’ll never recover from. The entire process seems to be surrounded by doom and gloom. Instead you’re being provided with the opportunity to have a clean financial slate in just a few short years, and the United States is one of
When Can I Get a Mortgage After Bankruptcy? Read More »
There are two basic choices available to a business if and when it decides to declare bankruptcy. Chapter 7 and 11 are when a business has hit a financial wall and can no longer stay operational. In filings of this type there is no exit process because the company will cease trading immediately, and investors
What Does it Mean When a Company Exits Bankruptcy? Read More »