Yet again, New Jersey has been ranked to have the highest number of home foreclosures in the United States. In 2017, New Jersey had nearly 70,000 properties go through foreclosure. Despite the fact that this number is the highest across the country, it is still lower than the 74,000 foreclosures that New Jersey saw in … Continued

About Bankruptcy  Bankruptcy is a choice that may help if you are facing serious financial problems. You may be able to cancel your debts, stop collection calls, and get a fresh financial start. Bankruptcy can help with some financial problems, but does not guarantee you will avoid financial problems in the future.  If you choose … Continued

Summary — All Waiting Period Requirements The following table summarizes the waiting period requirements for all significant derogatory credit events. Derogatory Event Waiting Period Requirements Waiting Period with Extenuating Circumstances Bankruptcy — Chapter 7 or 11 4 years 2 years Bankruptcy — Chapter 13      2 years from discharge date 4 years from dismissal … Continued

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