Filing a bankruptcy is a big decision and it can be a little overwhelming. We’ve put together this list of all the important things you need to know so that you can make your decision with all the facts in 2015. Types of Bankruptcy There are two main types of consumer bankruptcy: Chapter 7 and… Read more »
Posts Categorized: Chapter 13 Bankruptcy in NJ
Can I Discharge A Loan I Used To Start A Business In New Jersey?
At the end of the bankruptcy process, the debtor receives a discharge of her unsecured debts. This prohibits creditors from ever trying to enforce their claims against the debtor. Certain debts are not discharged, such as student loans, some taxes, child support, and others, but most debts are wiped out. What about a loan used… Read more »
Surviving Casino Closures: Unemployment in Atlantic City
The famous Atlantic City casinos are closing, which means thousands of Atlantic City residents are finding themselves unexpectedly unemployed. The casinos have been struggling for years, but stiff competition from Las Vegas and casinos in surrounding states have simply overwhelmed the boardwalk. Four casinos have closed already in 2014. As of September 2014, Atlantic City… Read more »
Collection Lawsuits in New Jersey
You’ve missed a few payments on a debt and you’ve gotten notice that you’re in default. Now you’re worried about a lawsuit. How does a debt collection lawsuit work in New Jersey? Receipt of Notice You’ll know your creditor has filed a lawsuit against you when you receive a summons and a complaint. The complaint… Read more »
Debts After Bankruptcy in New Jersey
Filing for bankruptcy doesn’t stop the world from turning. You still have your job, your family, and the rest of your life to think about. Bankruptcy may also not take care of all of your financial worries. Some debts extend past bankruptcy. You should make the decision to file for bankruptcy with the long game… Read more »
Credit Card Debt in New Jersey
According to the Federal Reserve, Americans owe a total of almost $857 billion in credit card debt. That amounts to more than $7,000 per household. This is the third largest source of debt in the country, after mortgage debt and student loan debt. Consumers are sucked into the credit card debt cycle when they pay… Read more »
How long will my Chapter 13 bankruptcy take?
You work hard to provide for yourself and your family, but sometimes that paycheck just isn’t big enough to make ends meet. If you’re struggling with debt but have a steady income, Chapter 13 bankruptcy might be the solution to your debt troubles. Bankruptcy is no one’s first choice, but it may be a better… Read more »
Bankruptcy Alternatives in NJ: Can You Avoid Chapter 7?
What are the top alternatives to filing for bankruptcy? Filing for bankruptcy is a serious decision – one that stays on your credit report for the next seven to ten years. It will affect your ability to take out loans, rent an apartment, and make any large purchases. Bankruptcy can also provide tremendous relief to… Read more »
Chapter 13 Bankruptcy and a Second Home
Keeping Investment Property in Chapter 13 Bankruptcy In re Amos – NJ: In re Amos, 452 B.R. 886 (D.N.J. 2011), a bankruptcy case out of New Jersey, teaches us some important lessons. When you file for chapter 13 bankruptcy, keep in mind that your second home is not considered a reasonable expense. A New Jersey Family… Read more »
Creditors Must Respect Your Bankruptcy Case
A creditor who disposes of your property after receiving notice that you have filed for bankruptcy has violated the automatic stay and you are entitled to damages The automatic stay is a core precept of bankruptcy. It prevents creditors from pursuing action against the debtor while bankruptcy is in process. The Bankruptcy Court stands between… Read more »
Our Senior Partner, Jeffrey E. Jenkins, Esquire, has been a Board Certified Bankruptcy Attorney since 1995. In addition to the above book, Mr. Jenkins has co-authored a Number 1 Bestselling Book in 2015 with Business Development Expert Brian Tracy entitled "Success Today". Mr. Jenkins has also been interviewed regarding various bankruptcy matters on National Television (ABC, CBS, NBC, and Fox) on the "Get Real" show with host Kristi Frank (star of the television show "The Apprentice").