When a business petitions for bankruptcy, the business often requires the use of property that is subject to a creditor's lien. For example, a business that has accounts receivable may need the...
October 7, 2015
Bankruptcy,
Debt Management
A levy on a bank account is often the impetus to seek bankruptcy protection. An issue that commonly comes up is what happens to the money held by the bank subject to the judgment creditor's levy. If...
August 31, 2015
Bankruptcy
For the last three years Scura, Wigfield, Heyer & Stevens, LLP has participated in the Rutgers Law School's Bankruptcy Pro Bono Project. The Bankruptcy Pro Bono Project seeks to further two important...
July 13, 2015
Bankruptcy,
Chapter 7
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...