The events of the last year and a half have hit very differently depending on your job and lifestyle. Many people have struggled with making ends meet either because they have lost their job or their business is failing. When your debt becomes out of control,...
Chapter 13 Bankruptcy
Chapter 13 bankruptcy and home loans
Even today, bankruptcy carries some stigma in New Jersey. However, debtors should understand that bankruptcy can actually be a great way of wiping their slate clean and starting to rebuild. That's what it's intended to do. And for most people, filing for bankruptcy...
You shouldn’t file for bankruptcy without telling your spouse
Although you can file for bankruptcy without notifying your spouse, it is generally not a good idea to do so. This is especially true if you're seeking to eliminate joint debts such as a second mortgage on your New Jersey home. In such a scenario, your spouse may...
As a sole proprietor, you can file for Chapter 13 bankruptcy
With your start-up business, you made a go of it as a sole proprietor. For the first 18 months, matters went well as you expanded your client list, added more employees and looked to the future. Then the COVID-19 pandemic struck. The work dried up because your...
Auto lease options with Chapter 13 bankruptcy
New Jersey residents who file Chapter 13 bankruptcy must choose one of the two options available to them if they are leasing a car at the time of the filing. Debtors can either continue making payments on the lease or take the vehicle back to the dealer. Before making...
Addressing common misconceptions about filing for bankruptcy
New Jersey residents who are facing financial challenges might consider bankruptcy but are dissuaded by misconceptions about it. Dismissing bankruptcy out of hand before gathering accurate information is often a mistake. Learning the facts is essential to knowing...
Handling Chapter 13 bankruptcy in New Jersey
There is no word in the world of financial information that carries with it a more negative connotation than “bankruptcy.” Most people consider it the end of a disastrous road that has ended in financial ruin. However, there is no shame in having file bankruptcy. No...