Bankruptcy is one of the most negative events that can appear on a consumer credit report. Anyone who tells you otherwise is either sugar-coating the truth or is not very experienced in these matters. The key phrase is “one of” the most negative … [Read more...]
The Check Is In The Mail
As of February 20, the IRS says it processed about 50 billion 2014 income tax returns. 83 percent of these filers received an average refund of $3,120. The number may be somewhat skewed, since taxpayers who anticipate large refunds tend to file … [Read more...]
Is Atlantic City The Next Big Municipal Bankruptcy?
Two prominent Wall Street rating firms recently downgraded Atlantic City to near-junk status, after Gov. Chris Christie appointed an emergency management team to handle the finances of America’s Favorite Playground. Last month, both Moody’s and … [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...]
Exceptions to the Automatic Stay
Exceptions to the Automatic Stay under the Bankruptcy Laws When you file for protection under Chapter 7 or Chapter 13, the automatic stay under the Bankruptcy Code immediately goes into effect, prohibiting your creditors from calling, writing or … [Read more...]
‘Real Housewife’ Changes Addresses
Erstwhile reality TV star Teresa Giudice surrendered to federal authorities in Connecticut to begin her 15-month prison sentence for bankruptcy fraud. After she completes her term, her husband, Giuseppe Giudice, will begin serving a 41-month … [Read more...]
When Do I Start Receiving Bankruptcy Benefits?
In some ways, your financial fresh start occurs the moment you file for bankruptcy, as your creditors are immediately prevented from taking actions against you or your property to collect their debts. The debts are then officially wiped out when you … [Read more...]
Stopping a Home Foreclosure with Bankruptcy
Bankruptcy and Foreclosure Proceedings If you are struggling to meet your financial obligations, and have fallen behind on your mortgage payments, you may be worried about a foreclosure proceeding and the loss of your home. You may be considering … [Read more...]
The Means Test
The Means Test in Bankruptcy Before 2005, persons seeking to file bankruptcy could generally choose between a Chapter 7 liquidation proceeding and a Chapter 13 reorganization. However, as a part of the revisions to the federal Bankruptcy Code in … [Read more...]
