In a decision which probably caused mortgage bankers everywhere to pop champagne corks and party like it’s 1999, the High Court ruled that Chapter 7 debtors are not entitled to strip-off a second lien on residential property. Lien Removal and … [Read more...]
Hard Times Are Everywhere
Atlantic City isn’t the only place where the gambling industry has collapsed, and the host area may well collapse along with it. Lawyers for Caesar’s Palace in Las Vegas are scheduled to be back in an Illinois courtroom to explain why their client … [Read more...]
Crisis Deepens In Atlantic City
A source close to the financial imbroglio in America’s Favorite Playground says that a Chapter 9 bankruptcy is “inevitable,” adding that the city “should have filed bankruptcy a year and a half ago.” The official report from the state-appointed … [Read more...]
Should I File Chapter 7 Or Chapter 13 Bankruptcy?
In a way, both these programs are very much the same. They use the same basic forms and the same judge may hear both types of cases. Most importantly, they both share the same goal. Once the judge issues a discharge order, the debtors and their … [Read more...]
Don’t Let This Happen To You
A pair of recent decisions have some important lessons for your Chapter 7 Bankruptcy case, because they both deal with very common issues. The Wrong Place In Okechuku v. Sharp Management, a New Jersey sheet metal company filed a voluntary Chapter 7 … [Read more...]
Of Chapter 7 And Security Clearances
Workers at Fort Dix, Fort Monmouth, the FBI in Newark, and other employers in The Garden State sometimes hesitate to file Chapter 7 Bankruptcy because they’re afraid of losing their security clearances. While bankruptcy debtors may face some … [Read more...]
Special Asset Issues
Bankruptcy and Special Assets If you have decided to file for bankruptcy as a way to get a fresh financial start, you may have concerns about how the bankruptcy filing will affect certain articles of property. What about any money you have received … [Read more...]
What Property Can I Keep In A Chapter 7?
New Jersey is one of 19 states which allow Chapter 7 debtors to choose between federal and state exemptions. If property is exempt, you get to keep it in a bankruptcy. What are some of the differences between state and federal bankruptcy exemptions … [Read more...]
