What Is Bankruptcy? Bankruptcy is a legal proceeding in which a person who cannot pay his or her bills can get a fresh financial start.  The right to file for bankruptcy is provided by federal law, and all bankruptcy cases are handled in federal court. Filing bankruptcy immediately stops all of your creditors from seeking … Continued

If you get a foreclosure complaint or a notice of intent to foreclose, which will come as a certified letter, go see an attorney right away because you will need to make a plan to get control over the situation. Whether you want to keep the house or not, it’s important that see an attorney … Continued

A foreclosure is the process where your mortgage company takes back the title to your house. Title is a legal term and essentially means who owns what. I have title to my house. If I look it up in the town’s records, you see my name right next to it just like yours. In New … Continued

A Chapter 13 bankruptcy is the bankruptcy where you propose a re-payment plan. Now, the difference between a Chapter 13 and a Chapter 7 is in a Chapter 13 you propose a plan to repay some creditors. For example, you are behind on your mortgage but you want to keep your house, you can force … Continued

Many people who file for bankruptcy are worried that they will lose everything that they own as a result of their filing. However, debts are dischargeable during bankruptcy. Debts that are dischargeable in bankruptcy are, except for a really limited list that Congress went through the trouble to write out, are generally all of them. … Continued

The law in the State of New Jersey was changed in 2006 for bankruptcy where before you file your case, you have to do credit counseling. Conveniently enough, you don’t actually have to go anywhere. These classes are all online and they all have 1-800 numbers if you don’t have a computer. It takes about … Continued

When people hear bankruptcy, they automatically assume they are going to lose everything they own. Luckily, that is not the case. Depending on your circumstances and the type of bankruptcy that you file for, you may be able to keep a lot more than you think. The things that you can hold onto in bankruptcy, … Continued

Filing for bankruptcy is not an easy decision to make but in some situations, it becomes the only thing that you can do. It is very daunting but it is more common than people think. The benefits for filing bankruptcy depend on the person. The most common conversation I have is that you can do … Continued

A lot of clients come to our firm and ask whether or not they can reaffirm their mortgage. Super technically, you can only reaffirm as to personality, which is a fancy way of saying assets other than land. A mortgage is a lien on land, so it can’t be reaffirmed, right? Well, maybe. When you get a mortgage, … Continued