If you have a house that is worth less than what you owe to the mortgage company, you could certainly surrender the property as part of a bankruptcy proceeding whether it is a Chapter 7 or a Chapter 13. If you did this, you would be absolved of any personal liability on the note (the… Read more »
Posts Categorized: Chapter 13 Bankruptcy in NJ
Can my creditors sue co-signers (like my parents) on credit card debt, a car loan, or student loans?
If you file a Chapter 7 there would be nothing to stop a credit card company from suing your parents as co-signers as they are responsible for the account, just as you are. The bankruptcy would take care of your liability on the debt and would discharge it, but it would not have any impact… Read more »
I owe the DMV: If I file for bankruptcy, can I get my license back?
We received the following question from a user: I owe the Department of Motor Vehicles more than $10,000 in surcharges and, as a result, my license is revoked. If I file a bankruptcy, can I get my license back? Here’s what Jeff Jenkins had to say: Surcharges are presently dischargeable in either a Chapter 7 or a… Read more »
Am I able to file for another Chapter 13 despite doing one recently?
We received the following question from a user: I recently filed a Chapter 13, unfortunately I am not sure if my attorney did what he was supposed to do. In any event, my mortgage company has started to foreclose on my property. My question is, am I able to file for another Chapter 13 despite… Read more »
New Jersey Bankruptcy in 2015: Everything You Need to Know
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 »
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 »
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").