Bankruptcy can provide relief for individuals and businesses drowning in debt, offering a chance to restructure finances under court protection. In New Jersey, like elsewhere, assets fall into two categories during bankruptcy: exempt and non-exempt. Knowing the...
Bankruptcy
Know whether to file for Chapter 7 or Chapter 13 bankruptcy
New Jersey residents dealing with personal financial challenges who have made the decision to file for bankruptcy have taken the first step toward getting their finances in order. However, people are frequently unsure of which chapter is best for them. In general,...
Avoid mistakes that can jeopardize your Chapter 7 bankruptcy
For those who have amassed credit card debt, medical expenses and other unsecured debt, Chapter 7 bankruptcy might be the most worthwhile option. Still, there are common mistakes that can hinder the plan and it is important to avoid them. Know all the facts about...
How to cope with the emotional ramifications of bankruptcy
Personal bankruptcy can provide you with the renewed lease on life that you want. But for many, the process is complicated by the emotions they feel during the bankruptcy process. Some think that bankruptcy is an indication that they’ve failed in life, while others...
Signs that it’s time to consider personal bankruptcy
Since you’ve found your way to our blog, you’re probably wondering if it’s time to seek out bankruptcy protection. Merely asking that question is a big first step, but a lot of people are hesitant to move forward with the process. You shouldn’t be. A successful...
Discharging medical bills in bankruptcy
When a person is sick and needs treatment, they are often focused on feeling better without thinking about the cost. Unfortunately, medical care can be very expensive and they may not be able to pay their medical bills, even with insurance. They may choose to file for...
Keeping your home when you file for bankruptcy
You may be in a situation where you are struggling with overwhelming debt that you know you cannot pay back but you are afraid to file bankruptcy because you do not want to lose your home. This is understandable. Losing a home is a frightening and stressful...
Qualifying for Chapter 7 bankruptcy
There are two options for New Jersey residents interested in filing for bankruptcy: Chapter 7 and Chapter 13. Before filing for bankruptcy, you will need to make sure you meet the eligibility requirements. Any individual with debts (both secured and unsecured) less...
An overview of Chapter 7 and Chapter 13 bankruptcy
With rising prices on everything from groceries to housing, sometimes borrowers are not able to pay what they owe through no fault of their own. They may want to consider filing for bankruptcy. Chapter 7 bankruptcy Chapter 7 bankruptcy is usually used by borrowers...
Exploring bankruptcy alternatives
While filing for bankruptcy relief is a constitutional right, there may be more productive ways out of a debt mess. People in steep debt are subject to so much overwhelm, they don’t realize help is out there. Though it might take some resolve to stay the course, there...