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Chapter 7

Will I lose my home in Chapter 7?

If you believe Chapter 7 bankruptcy is a viable option for you, you might wonder if you can keep your house. Not everyone who files for Chapter 7 holds on to their mortgage. However, it is possible to own your home after the process, depending on your situation....

Can I keep my vehicle if I file bankruptcy?

When you file bankruptcy, the court requires that you list all of your liabilities and assets. In Chapter 7 bankruptcy, the court may seize your assets, sell them and use the profits to repay your creditors. While this may seem like the court will take everything you...

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...

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...

Conversion motion in Chapter 7 bankruptcy denied

On the one hand, the U.S. Bankruptcy Code allows filers to convert their bankruptcies from Chapter 7 to Chapter 13. On the other hand, what New Jersey residents might not know is that such a conversion is only permitted if the provisions of another section of the code...

Property exemptions in Chapter 7 bankruptcy

Many New Jersey residents who are overwhelmed by debt want to file for bankruptcy liquidation. However, they might fear that they will have to surrender all of their property to pay their creditors. Fortunately, there are property exemptions for those who are eligible...

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