Filing for Chapter 7 bankruptcy can provide much-needed relief if you are struggling with excessive debt. However, any red flags in your financial history could allow the bankruptcy trustee to challenge your right to relief. As you prepare your paperwork, keep an eye...
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How Chapter 7 can affect past-due rent payments
Chapter 7 bankruptcy is a legal process. It allows individuals who want a fresh start to eliminate certain debts by liquidating their assets. In New Jersey, this process can erase past-due rent payments, offering relief to filers. Automatic stay The median gross rent...
Will filing for bankruptcy affect your retirement accounts?
Financial challenges can arise unexpectedly, leading individuals to explore their debt relief options. Bankruptcy is one valid solution, but you might have concerns about the impact it can have on your retirement savings. You can protect your future by understanding...
How to complete a Chapter 13 repayment plan
One of the main features of Chapter 13 bankruptcy is the repayment plan. By carrying out this plan, you repay your creditors at least part of what you owe them, helping you avoid selling your property to pay your outstanding amounts. It takes anywhere from three to...
Can going shopping before filing for bankruptcy be fraud?
If you are in financial straits, filing for bankruptcy may be a logical solution. The decision can provide the necessary relief from debt and can provide a fresh start. But what about the spending habits leading up to that moment? If you indulged in a shopping spree...
Avoid these actions when filing for bankruptcy
A thick swamp of misconceptions and negative associations surround bankruptcy, causing many to hesitate to use the debt-clearing tool. One major one is that only financially irresponsible individuals file for bankruptcy and that it is a shameful action. However,...
How bankruptcy’s automatic stay stops creditor harassment
Many people in New Jersey have trouble staying on top of their bills, and if you count yourself among them, something like an unanticipated medical expense has the potential to make your growing debt seem insurmountable. If you are facing an ongoing stream of calls...
How Chapter 7 and Chapter 13 bankruptcies differ
Many New Jersey residents find themselves facing seemingly insurmountable debt, which might be due to unexpected medical expenses, mounting credit card bills or other factors. If you count yourself among those struggling to stay afloat, you may be wondering whether...
The cost of medical problems
The tie between medical problems and financial issues has continued to increase, and with it, so has the concern of many Americans. Recent studies have shown that as medical issues continue to sweep across the nation, so too do unpaid bills and the fear of filing for...
Dispelling 3 common bankruptcy myths
Bankruptcy bears a long legacy of association with poor money management and other unpleasant stereotypes. Many individuals see it as shameful, something to hide. However, it is nothing but a tool provided by the government to aid individuals in reducing their debt...