Essex County Bankruptcy Blog
Can bankruptcy stop foreclosure and repossession?
If you have fallen behind on your mortgage payment or car note and are struggling to catch up, bankruptcy might be a viable solution for your circumstances. You might find yourself wondering if it can stop lenders from foreclosing on your home or repossessing your...
Some still cannot stop foreclosure despite economic growth
The most recent data regarding foreclosures across the country, including here in New Jersey, indicates that numbers have finally fallen to pre-mortgage crisis levels. Much of this is attributed to economic growth and the fact that lenders are clearing out foreclosed...
Bankruptcy can stop harassing phone calls from creditors and more
Many New Jersey residents find themselves in financial distress for one reason or another. By the time they consider filing bankruptcy, creditors could be calling incessantly and demanding payment. Fortunately, one of the benefits filers enjoy is that filing for...
U.S. District court reverses ruling on Chapter 13 plan
In many instances, appeals of an order entered in a U.S. Bankruptcy Court here in New Jersey or elsewhere are heard by the U.S. District Court in the same geographic area. Recently, a ruling that approved a Chapter 13 bankruptcy plan was reversed by an out-of-state...
The truth about Chapter 7 bankruptcy
When New Jersey residents are in financial distress, they might begin to think that bankruptcy would be a viable way to deal with the overwhelming amount of debt they incurred for whatever reason. Unfortunately, there are so many myths surrounding Chapter 7 bankruptcy...
You may keep some property, and some debts, in bankruptcy
New Jersey residents could have some misconceptions regarding bankruptcy. Many people believe that the court will require them to give up all of their property. Others believe that they will be able to discharge all of their debts. Neither of these statements about...
Should bankruptcy be an option for student loan debt relief?
This question seems to be gaining some traction in political circles. With nearly $1.5 trillion dollars in student loan debt across the country, some sources say that something needs to be done before another nationwide economic crisis occurs. Re-instituting...
Medevac helicopter rides can push people into bankruptcy
Any New Jersey resident who has been involved in a serious accident or suffered from a medical emergency knows how high the medical bills and other expenses can get. Many of those people have filed bankruptcy in order to be free from the overwhelming amount of health...
Understanding the Chapter 7 bankruptcy process
Once a New Jersey resident has decided to file for bankruptcy, it will be helpful to understand how the process works. A Chapter 7 is a liquidation, which means that the trustee could sell any non-exempt assets in order to pay creditors. In many cases, all of a...
Mortgage underwater and do not want to keep your home? Now what
This might seem like an odd question, but it is one that many people ask themselves. Not everyone in who owns a home here in New Jersey or elsewhere wants to fight to keep it. If your mortgage is underwater and you do not want to keep your home, you could be asking...
