AM I ELIGIBLE TO FILE A CHAPTER 7?

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Even if you think you have a lot of debt, you may not be eligible to file a Chapter 7 and walk away from it. WHAT IS THE MEANS TEST? To file a Chapter 7 bankruptcy, your household income over the last six calendar months cannot exceed the median income for a household the size … Continued

Dealing with Credit Card Debt during Covid 19

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Over 110 million Americans have credit card debt with past due balances. As if Covid19 has not been stressful enough, the weight of this extra debt with either a loss in income or an uncertainty about future income can be overwhelming. While bankruptcy can help with that by potentially wiping it out, here are some … Continued

How does the automatic stay benefit people?

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During the bankruptcy process, the automatic stay has been shown to ease the process for individuals. With the automatic stay in place, individuals cannot be contacted from their creditors. Creditors are barred from contacting debtors, which can stop harassment from them. This can take a weight off the individual’s shoulders by allowing them to focus … Continued

What is business bankruptcy?

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Business bankruptcy refers to Chapter 11 bankruptcy. This bankruptcy process has been known to help business owners keep their businesses afloat. When their businesses are suffering financially, they can file for Chapter 11 bankruptcy to help. Through this process, it will allow the business to remain open and operating on a daily basis. This can … Continued

What options do individuals have when filing for bankruptcy?

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If trouble with finances continues to pile up, it may be time to consider your bankruptcy options. Through bankruptcy, individuals are able to create a financial plan to mend their finances and prepare for a better future ahead of them. Although bankruptcy may have a bad stigma, it is not something to avoid at all … Continued

Wells Fargo Foreclosure Mishap: A Cautionary Tale About Needing an Attorney

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Over time, helping people hold onto their lives with bankruptcy has expanded to a more complicated thing than just knowing bankruptcy laws. To really help someone in financial trouble, a lawyer needs to know about lending laws, consumer protection laws, and property ownership laws. Wells Fargo now admits that a computer error incorrectly calculated about … Continued

What should I bring to my bankruptcy consultation?

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When an individual is struggling to stay afloat financially, they may be feeling overwhelmed about the future. If the individual is being contacted by various creditors, are having wages garnished, or is in jeopardy of losing their house to a foreclosure, they should consider filing for bankruptcy. Bankruptcy is a wonderful tool that can allow … Continued

Student Debt Bankruptcy Discharges

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Today we heard that we were able to help a client to get rid of about $250,000.00 in student loans with a bankruptcy discharge.   In Hunter v. NJHESSA, the debtor had borrowed a lot of NJCLASS loans, and after graduation, found she could not pay them and continue to pay her rent, eat, and all … Continued

How can I rebuild my credit after a NJ bankruptcy?

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One of the biggest concerns that many people have when they are thinking about bankruptcy is how they will rebuild their credit afterward. The truth of the matter is, your credit is going to take a hit but that doesn’t mean it is doomed forever. It will take some work to get your credit score to … Continued