Having a rudimentary understanding of what will happen during a Chapter 7 bankruptcy can help eliminate any hesitation or discomfort New Jersey residents may have with the process. Filing for bankruptcy can be unsettling enough, but not knowing how it works can make...
Month: August 2014
You can stop harassing phone calls from creditors
Many New Jersey residents find themselves dealing with more debt than they can handle through no fault of their own. For some reason, debt collectors seem to think that harassing people who are already stressed -- and whose finances are stretched to the limit -- will...
How to complete credit counseling after bankruptcy
Now that you have decided to file for bankruptcy in New Jersey, there are certain requirements that must be met before you can receive a discharge. One of these requirements is credit counseling. This may sound complicated, but, fortunately, the procss can be made...
How does the automatic stay help someone who filed bankruptcy?
When a New Jersey resident files for bankruptcy, something called an automatic stay is instituted. This means that as soon as the person filing for bankruptcy receives a case number, all creditor activity to collect a debt is required to stop. Notification of...
What does bankruptcy mean for New Jersey consumers
Simply put, bankruptcy is the federal court procedure designed to assist individuals and businesses with eliminating debt and paying creditors. New Jersey residents file two types of bankruptcy most often. The first is liquidation (Chapter 7), and the second is...
There are numerous benefits to filing for Chapter 13 bankruptcy
Since the United States Bankruptcy Code changed, not as many New Jersey residents qualify to file for Chapter 7 bankruptcy because they have disposable income, which is the money an individual has left after paying for necessities such as shelter, food and health care...