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What Should I Say at the Meeting of Creditors in Bankruptcy Court?

Saturday , 5, October 2013 Comments Off on What Should I Say at the Meeting of Creditors in Bankruptcy Court?

Bankruptcy Lawyer in Lakewood NJ. What Should I Say at the Meeting of Creditors in Bankruptcy Court? The most stressful part of the bankruptcy process for consumers seems to be their appearance before the trustee assigned to their case. Every consumer debtor who files for Chapter 7 or Chapter 13, will be examined by the […]

Will I lose my home if I File Bankruptcy?

Saturday , 5, October 2013 Comments Off on Will I lose my home if I File Bankruptcy?

Bankruptcy Lawyer in Toms River NJ. Will I lose my home if I file bankruptcy. Here is how it works. Section 362 provides that the filing of a bankruptcy operates as a stay against all acts to acquire property of the debtor or to recover a claim against the debtor that arose prepetition. Therefore any […]

Bankruptcy Lawyer in Brick NJ. What is a preference transfer in Bankruptcy?  The Bankruptcy Code allows debtors to keep assets with no equity or up to a fixed dollar amount, through a process of exemptions.  These exemptions are tools provided by the Bankruptcy Code to protect your assets and truly give you a fresh start. In […]

Bankruptcy and Divorce.

Saturday , 5, October 2013 Comments Off on Bankruptcy and Divorce.

Bankruptcy Lawyer in Jackson NJ. Bankruptcy and divorce; how do they affect each other? This is a very common question that is posed in our offices. Many of times our clients are recently divorced.  Because of the divorce they need to file bankruptcy due to the lost income which the ex-spouse had brought to the […]

Bankruptcy Lawyer in Point Pleasant NJ. When debtors have decided to file bankruptcy the looming question on their minds is commonly how long will it take before I have credit again? Unfortunately the answer is not in black and white and the answer fluctuates with the economic times. As the Great Recession has set in […]

Getting sued in Bankruptcy Court: Adversarial Proceedings.

Wednesday , 25, September 2013 Comments Off on Getting sued in Bankruptcy Court: Adversarial Proceedings.

Bankruptcy Lawyer in Berkeley NJ. Cases can be deceiving and sometimes even what appears to be a straight forward Chapter 7 consumer bankruptcy filing results in what’s called an adversarial proceeding. This is just a unique name given to a federal lawsuit filed within a pending bankruptcy proceeding. Bankruptcy Rule 7001 sets forth what is […]

Since the Bankruptcy Reform package “BAPCA” was passed in 2005 we have been stuck with a bright line formula called the means test. This test compares your income from the previous 6 months with allowable expenses which are taken from an IRS tax table. The test is pass or fail. However and experienced bankruptcy attorney […]

The good news is that the bankruptcy will stop the creditors as soon as the petition is filed. We always tell our clients that the time which will be necessary to get them filed is very dependent on how quickly the clients can get us the information that we need to prepare the bankruptcy petition. […]

When filing for Bankruptcy a consumer debtor may choose to liquidate under Chapter 7 or reorganize under Chapter 11 or 13. See 11 U.S.C. § 109(e) Many debtors are ultimately seeking a discharge which is may be granted by order of the bankruptcy court. See 11 U.S.C. § 727(a)(1). A  debtor who successfully obtains court […]

Bankruptcy: Borrowing for College Tuition 101

Tuesday , 24, September 2013 Comments Off on Bankruptcy: Borrowing for College Tuition 101

In most cases a bankruptcy should have no impact on eligibility for federal student aid. Title IV grant or loan aid (including the Perkins loan program) will not be denied an applying student who has filed bankruptcy exclusively on the record of their past Bankruptcy. Financial aid administrators are not permitted to use a former […]