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

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

One of the biggest accomplishments for many people in New Jersey is to become a homeowner. It often takes years of saving and hard work to own a home. Of course, when a financial situation changes and an individual can no longer afford to make mortgage payments, foreclosure may be in one’s future. The concept of … Continued

The idea of filing for bankruptcy can be pretty daunting for many people but it can also be the first step towards a successful financial future. When an individual starts to think about bankruptcy, they may be unsure of which type of bankruptcy they should file for. However, there isn’t much of a decision because … Continued

One of the most common misconceptions concerning bankruptcy fraud is that amending a petition or schedule to supply missing information (or to correct inaccuracy) in an original filing will protect the debtor from a bankruptcy criminal charge. In the classic context, a debtor omits an asset from the schedules. At the meeting of creditors, the … Continued

If you want to keep your vehicle in a Chapter 7 your choices are “reaffirmation” and “redemption.” Reaffirmation is much more common. You and the lender agree to repay the loan as if you had not filed bankruptcy. You’re recommitting to pay the loan, “reaffirming” that you want to pay it. Redemption is much less … Continued

You may ask “why should I be concerned about signing a 60 or 72 month car loan if I can afford the payment?” The answer, in a word, is “depreciation.” Cars and trucks are depreciating assets. That is,  they go down in value with each day and each mile of wear and tear. When you get … Continued

Learn something from the Real Housewives of New Jersey. Don’t hire just anyone to handle your bankruptcy. So what happened to Teresa Guidice?  She and her husband got into the real estate flipping business, her husband signed off on a lot of papers he shouldn’t have, not always using his own name, and then the … Continued

A debtor might want to pay off a debt, even though that debt will be discharged in a bankruptcy case. For example, a debtor might want  to keep a car. A reaffirmation agreement is an agreement to pay that debt, even if it would have been discharged. Reaffirmations are voluntary and not required by law. … Continued

When we are in court, we frequently see people acting as their own lawyers.  And it is ugly. Very ugly.   The best comparison is probably between bankruptcy law and a car’s transmission. Its fairly easy to get a transmission off of a car when it isn’t working, and even open it up.  And even pull … Continued