People who find themselves filing for bankruptcy for the first time often imagine being left with nothing more than the clothes on their back when the process is complete. But nothing could be further from the truth. The goal of the bankruptcy process is not to punish you – otherwise it wouldn’t allow you to […]
What are the available exemptions in the bankruptcy filing? Read More »
If or when you find yourself in financial difficulty, with creditors knocking on your door, you\’ll have two options for dealing with the situation: 1. File for a Chapter 7 discharge of your debt 2. File for a Chapter 13 debt repayment plan Which of these you choose will depend entirely on your personal circumstances,
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In most cases people can see their bankruptcy coming from a long way off because of their spending habits, and the realization that they are currently living beyond their means. But that’s not always the case. Some people don’t take their debts seriously until they receive communication from a creditor or sheriff, advising them that
What Is An Emergency Bankruptcy? Read More »
Altruism can be a double-edged sword because it can take away just as much as it gives. A perfect example of such high-minded ideals took place in the state of New Jersey after the 2008 housing and financial crisis that almost brought the United States to its knees. New Jersey was already on record as
The Foreclosure Moratorium in New Jersey Made Matters Far Worse Read More »
Having to declare bankruptcy can feel like you’ve made a series of financial mistakes you’ll never recover from. The entire process seems to be surrounded by doom and gloom. Instead you’re being provided with the opportunity to have a clean financial slate in just a few short years, and the United States is one of
When Can I Get a Mortgage After Bankruptcy? Read More »
We tend to have this idyllic image of what retirement looks like. It’s one of playing with your grandkids, enjoying leisurely holidays and living the life you want. After all, shouldn’t you be able to live out your Golden Years as you see fit after working your whole life? Unfortunately a growing number of senior
Bankruptcy Filing Booms Among Older Americans Read More »
The stereotypical image of a bankrupted person is a forty something who lived beyond their means their entire life. Somebody who has spent their hard-earned money on frivolous things like sports cars and exotic holidays until they finally ran out of money and had to petition the bankruptcy court to bail them out. You’d never
The Reasons More Older Americans Are Filing For Bankruptcy Read More »
When you file for bankruptcy you are petitioning the US court system to assist you in resolving your financial woes. This is one of the many rights afforded to you as a US citizen. Unfortunately, some people view the bankruptcy process as an opportunity to not only discharge their debts, but to walk away from
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You invested a lot of time and effort in choosing your home and then making it your own. That’s why it’s so difficult to imagine not being able to live there because you have to declare bankruptcy. But petitioning for bankruptcy doesn’t mean you’ll lose your home, especially if you file for Chapter 13 –
Keeping Your Home In A Chapter 13 Bankruptcy: What You Need To Know Read More »
Having missed mortgage payments is not something most people expect to have happen when they first buy their home. In fact, nobody ever signs up for a mortgage thinking they’ll ever miss a payment. But even more worrying is the fact that you might be facing foreclosure on your home in the near future because
How Fast Can a Bank Foreclose in New Jersey Read More »