President Biden signed the “COVID-19 Bankruptcy Relief Extension Act” into law on March 27, 2021. Now, personal and small business bankruptcy relief provisions of last year’s CARES act are extended another year up until March 27, 2022.
In New Jersey, after a buyer and seller sign a contract for purchase/sale of real estate, such as a house, there is typically a three-day attorney review period. This three-day review period is a required clause in real estate contracts. In this three-day period, your attorney may review the contract, and either negotiate changes with the other side or void the contract. Beyond this three-day review period, the terms of the contract are final.
Wear and tear injuries are often overlooked by employees, dismissed as nothing significant, even though these injuries, developed over time, can merit workers’ compensation aid as occupational claims. When people discuss workers’ compensation, they imagine critical and dramatic injuries. They imagine someone at a factory, their arms crushed under gears. They imagine drivers T-boned against a building front.
However, many people dismiss the prevalence of injuries that develop over time. Exposure to some chemical or repetitious physical actions can, over time, result in serious and painful injuries that are just as debilitating as a more dramatic and immediate injury. You are entitled to occupational claims for wear and tear injuries.
A Merchant Cash Advance (“MCA”) allows an MCA provider (“buyer) to purchase future credit or debit card sales from the merchant (“seller”). The payback amount depends on the merchant’s sale volume. Merchant Cash Advances differ from loans because the buyer of the future receivables takes on the risk of non-payment. When a Merchant Cash Advance is constructed correctly, it will not be considered a loan and will not be subject to state usury laws. However, while the original intent was to provide small businesses with an alternative to traditional loans, predatory lenders have disguised their usurious loans as MCA’s to circumvent state usury laws and charge interest rates that exceed the maximum allowed.
The price of living can sometimes be high, and often we will be faced with eviction, something that everyone in New Jersey wants to stop. How does one stop an eviction when it starts? This is the question every single renter has asked, especially under times of financial distress. Maybe you were laid off. Maybe your rent is increasing. Either way, your landlord has sent you an eviction notice, one that demands your immediate attention.
It is highly possible that you are in the middle of an eviction right now, facing off against odds that might leave you stranded and without a home. In this event, what are some measures you can take to avoid eviction? And is bankruptcy a solution that might help you?
When you are behind on your mortgage payments, it is only a matter of time before you ask how long you have before the foreclosure process begins.
In New Jersey, when you take out a mortgage loan, your property serves as collateral for that loan. If you fail to meet your due payments, your home may be taken from you by your lenders and creditors. Your lender or creditor has a lien on your property, which makes them legally justified to foreclose on their collateral.
That means you might lose your house and home when the lender – with the assistance of the county sheriff -- sets out to sell your property to pay off the outstanding debt to the lender that you have accrued. This is referred to as a Sheriff Sale. It is the final step in the process known as foreclosure. From start to finish, how long does a foreclosure take in the state of New Jersey?
When you file for bankruptcy, you are often struggling to overcome the fees and debts that have smothered your financial status, so when you are offered a solution to escape that debt, your first question is “Well, how much will it cost me?”
Ultimately, bankruptcy will probably save you more than it will cost you. If your debts are piling up and you stand to lose your house, your car, your property – then filing for bankruptcy is a small price to pay. However, there are fees along the way that you will need to make to push the process along.