The starting point for any "Means Test" analysis is a determination of the debtor's household income in comparison to the median income. Only those debtors with income above the median income are...
November 8, 2011
Bankruptcy
If the suspension is due to unpaid surcharges, the filing of a Chapter 7 Bankruptcy will lead to the immediate reinstatement of driving privileges in New Jersey - that is after the payment of a small...
October 16, 2011
Bankruptcy,
Debt Management
Bankruptcy does not get rid of all types of debt. Some types of debt are presumed to be non-dischargeable: taxes, alimony/child support, government backed student loans. In other instances a creditor...
October 4, 2011
Business Bankruptcy
The Impact of Filing Bankruptcy on a Business
The self-employed are always concerned about the impact the filing for bankruptcy may have on their business. To answer the question, it first has to be...
September 15, 2011
Bankruptcy,
Chapter 11
It is commonly believed that Chapter 11 Bankruptcy is reserved for businesses. While it is true that a business cannot reorganize its financial affairs in a Chapter 13, it is not true that an...
August 3, 2011
Bankruptcy,
Debt Management
If you owe a creditor money, you may think that it is a good thing if that creditor stops attempting to collect the debt. Note, however, that if a creditor cancels or forgives a loan, it may report...
July 23, 2011
Foreclosure
As if it was not hard enough to lose ones home in a foreclosure action, could you imagine being required to write a check to the mortgage company after the home is sold at auction? Many borrowers owe...
June 17, 2011
Divorce,
Bankruptcy,
Family Law
It is well known that the leading cause of divorce is money....or rather the lack of money. What I have come to learn after meeting with many divorced debtors in my bankruptcy practice, is that the...