A chapter 7 debtor (as opposed to a trustee) may bring such actions for his or her own benefit (as opposed to for the benefit of the debtor's estate) in limited circumstances. To bring the avoidance...
April 21, 2015
Bankruptcy,
Chapter 7
Chapter 7 Trustees are compensated in two ways. First, they receive a flat $60 fee per case. Second, in the event there are assets to liquidate, the trustee will receive "reasonable" compensation in...
December 15, 2014
Bankruptcy
After a successful bankruptcy, a person is discharged from most debts - meaning the person no longer has any personally responsibility for the debt. What many New Jersey residents don't know,...
November 10, 2014
Bankruptcy
New Jersey Bankruptcy Court
When most people think of going to court, they think of the local courthouse located in the county in which they reside. Bankruptcy is a federal matter, however, and not...
June 30, 2014
Bankruptcy,
Chapter 13,
Chapter 7
Most people have a basic understanding of the difference between a chapter 7 bankruptcy and a chapter 13. Simply put, in a chapter 7 case, most debtors are not paying anything to creditors. In...
January 20, 2014
Bankruptcy,
Debt Management
If a purchase was made on a store card - say a refrigerator from Sears, furniture from Raymour and Flanigan, or a computer from Best Buy - it is very likely the creditor holds a security interest in...
November 4, 2013
Bankruptcy,
Repossession
Many people have questions about what to do with their car loan during bankruptcy. There are a few different options, so make sure you know the details before you make a decision.
When filing for...
August 5, 2013
Bankruptcy,
Debt Management
A year ago, in September of 2012, my client filed for chapter 7 bankruptcy and obtained a discharge - he had a judgment creditor about to levy on his assets. He had some tax debts which he disputed...
March 21, 2013
Bankruptcy
The Census Bureau has published updated median family income. Individuals who earn more than the median income are required to take a "Means Test" to determine if they qualify for Chapter 7. The...
March 18, 2013
Bankruptcy
Educational savings accounts are a great way to save money for college but if you are considering filing for bankruptcy, you should speak to an experienced bankruptcy attorney about the timing of...