Five Tips to Ensure an Effective Bankruptcy
You have the right to file for bankruptcy protection, no matter how financially distressed you are. The purpose of court-ordered bankruptcy protection is to stop creditors from seizing assets that you depend on for your survival. When applicants submit documents complete with accurate information and follow the filing procedures correctly, the chances that the court will accept your application [...]
How Often Do Chapter 7 Bankruptcies Get Denied, and Why Does This Happen?
Federal law grants individuals and companies the right to file for bankruptcy protection. When you do this, the court negotiates with your creditors to discharge some of your debts and to develop a plan to repay others. No one can stop you from filing for bankruptcy protection, not your creditors, business partners, ex-spouse, or even the IRS. One of [...]
Five Signs You Need to Consider Bankruptcy
Stereotypes are among the main reasons that people who are eligible for bankruptcy protection do not consider the option of filing for bankruptcy. They are worried that people in their communities, as well as lenders and prospective employers who see their credit reports, will assume that they lived beyond their means, asked the court to erase their debts, and [...]
How Much Does it Cost to File Bankruptcy in New Jersey?
If you keep getting deeper into debt even when you live very modestly and spend every penny of your paycheck, after housing, transportation, and grocery costs, on debt repayment, it might be a good idea to file for bankruptcy. Everyone has the right to file for bankruptcy protection, regardless of their age or marital status and no matter the [...]
How Does Bankruptcy Affect Your Spouse?
The mental association that most of us have with filing for bankruptcy is that it is something that unmarried people do; in other words, if you are married, then you and your spouse are together for richer or for poorer, but if you are single, you can incur and discharge debts at will. Recently divorced people account for a [...]
New Jersey Bankruptcy Trends for 2024: What to Expect
As we approach 2024, it's crucial to understand the evolving landscape of bankruptcy in New Jersey. At our boutique bankruptcy law firm, we stay ahead of the curve, analyzing trends and preparing to guide our clients through the complexities of bankruptcy. Anticipated Increase in Bankruptcy Filings Recent trends indicate an uptick in bankruptcy filings. This year marked a significant [...]