Posts Categorized: Chapter 7 Bankruptcy

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 »

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 »