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...]
Congress To Reconsider Student Loan Dischargeability
A Maryland Democrat wants to turn back the clock to the disco days of the mid-1970s, at least as far as student loans are concerned. Last month, Maryland Democrat John Delaney introduced House Resolution 449, which would remove paragraph 8 from … [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...]
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...]
Dealing with an Aggressive Creditor
Protecting Yourself from Creditor Harassment Most of us want to pay our bills in a timely manner, and we often try hard to work with creditors when we get behind. But some creditors are relentless, calling and writing incessantly in an attempt to … [Read more...]
