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Bankruptcy Law

Bankruptcy FAQ Part 3: What To Expect Afterwards & How It Affects Your Future

Bankruptcy FAQ Part 3: What To Expect Afterwards & How It Affects Your Future

By | Bankruptcy Law

In this three-part series, we’re answering some common questions about bankruptcy, including what debt is (and isn’t) affected, what to expect from the process, and finally, how bankruptcy affects your future. It’s understandable to have concerns about your ability to recover financially after such a significant step, but it helps to be prepared so you’ll understand the risks and be armed with the knowledge you need to make the most of your fresh start. Can…

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Bankruptcy FAQ Part 2: What To Expect From The Process

Bankruptcy FAQ Part 2: What To Expect From The Process

By | Bankruptcy Law

In part 1 of this series, we talked about which debts do and don’t qualify for discharge and some important things to know about your responsibilities. In this article we’re going to talk about common questions related to the process itself, from what the different chapters mean to what happens as your case progresses. Next up we’ll talk about what happens after bankruptcy, but if you have any questions in the meantime you can always…

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Bankruptcy FAQ Part 1: Your Debt, Risks And Responsibilities

Bankruptcy FAQ Part 1: Your Debt, Risks And Responsibilities

By | Bankruptcy Law

If you’re stuck under a mountain of debt and feel like you’ll never find your way to the light, you may be considering bankruptcy. And that means you probably have a thousand questions about what to do and how your choices will affect you now and into the future. Here are answers to some common questions and concerns about filing bankruptcy in New Jersey, but you should always contact your attorney for counsel that pertains…

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Declaring Bankruptcy: Is Chapter 7 Or 13 Right For You?

Declaring Bankruptcy: Is Chapter 7 Or 13 Right For You?

By | Bankruptcy Law

By the time you start thinking about bankruptcy you’re probably already in the midst of financial hardship. That kind of hardship can take a serious emotional toll, not to mention its effects on your self-esteem. All that means is that by the time you really need to be thinking about bankruptcy, it’s probably the worst time to try to make objective decisions. If you’re feeling overwhelmed by debt, first take a moment to stop and…

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What NOT To Do Before Filing Bankruptcy

What NOT To Do Before Filing Bankruptcy

By | Bankruptcy Law

If you’ve lost a job, been through a divorce or are overwhelmed by medical expenses, you may be considering bankruptcy. Depending on your circumstances, you may choose the debt reorganization of Chapter 13 or complete debt forgiveness of Chapter 7 as the most effective option. Either way, there are some things that you should NOT be doing prior to filing that could adversely affect your outcome. So if bankruptcy seems like it may be a…

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Save Your Home With Chapter 13 Bankruptcy And Lien Stripping

Save Your Home With Chapter 13 Bankruptcy And Lien Stripping

By | Bankruptcy Law

After the real estate collapse in 2008, many homeowners found themselves deep in debt. The terms “underwater” and “bankruptcy” became commonplace, as loan payments became too high to bear and the prices of homes plummeted. As more and more individuals defaulted on their loans, Chapter 13 bankruptcy became a popular option. It includes a key provision that allows for lien stripping, which can relieve you of the burden of second or third mortgages on an…

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10 Common Misconceptions About Bankruptcy

10 Common Misconceptions About Bankruptcy

By | Bankruptcy Law

Declaring bankruptcy isn’t something most people want to think about, whether for personal or business reasons. But the reality is that sometimes it’s necessary – and it may even be your best option when debt mounts. There are myriad misconceptions about bankruptcy, many of which can prevent someone from seeking relief. These are 10 common misconceptions and the truth about them. We’ll be covering each of these in more depth in future posts, but if…

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