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New Jersey judge may face bankruptcy

| Jun 16, 2011 | Personal Bankruptcy |

Personal financial strain is not uncommon for today’s economy. More and more individuals are faced with mounting debt, harassment from creditors, and bankruptcy. The sad fact of the matter is that no one is exempt from financial pressure. People from every walk of life can be plagued by bankruptcy and personal debt. In fact, a respected New Jersey judge is now engaged in a battle with creditors who say he owes them millions.

Creditors have filed numerous lawsuits against the judge in efforts to collect debts they say he owes them. Further, prosecutors allege that the judge inappropriately attempted to sell property to his wife in an effort to avoid his creditors. He is also involved in several debt related lawsuits. To make matters even worse, the judge is also faced with tax liens because of an inability to pay his state and federal taxes.

The judge is currently taking unpaid leave from work in an effort to concentrate on defending himself. The judge told reporters that he has been enduring some creditor harassment. He states that an executive for First State Bank called him late in the evening and threatened to hire a vicious attorney and to make his life miserable.

As tension in the situation mounts, the judge has begun to endure scrutiny in every facet of his finances from personal to business. He may be forced to file for bankruptcy and is struggling difficulties with his colleagues as a result of the public records release. Regardless of whether or not he chooses to seek bankruptcy relief, his life has already been significantly impacted by the debt. This situation goes to show that no one is safe from financial struggles, not even judges.

Source: Loansafe.org, “Creditors Say Judge Owes Them Millions,” Alex Ferreras, 14 Jun, 2011