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Scura, Wigfield, Heyer, Stevens & Cammarota Blog

How Do You Stop an Eviction in New Jersey?

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?

How Much Does it Cost to File Bankruptcy in 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.

How Do You Rent a New Apartment After Filing for Bankruptcy in NJ?

When you file for bankruptcy, you often feel marked by the filing. Whether you’re buying a new car or looking for a new apartment to rent, you remain conscious that your bankruptcy will follow you. Bankruptcy remains reported for a time on your credit score.

If you intend on finding a new apartment or a new house to rent, you will need to be open about your financial history. This includes any past bankruptcy filings or prior evictions. Some landlords will obviously reject people if they do not feel your records satisfy their needs for a tenant. This can be highly stressful for people who needed bankruptcy relief.

If you are looking for a new place to live and are afraid that bankruptcy will hold you back from success, then you may want to consider a few factors before moving forward in order to know where you stand and how you can convince a landlord to give you a new lease on an apartment.

Is it Better to File Chapter 7 or Chapter 13 Bankruptcy in New Jersey?

When someone researches bankruptcy for the first time, they come across individuals discussing their experiences with two entirely different forms of bankruptcy: Chapter 7 or Chapter 13. Bankruptcy, with its numerous chapters and subchapters, might be an overwhelming to an ordinary person. It might take hours of research, for example, before one realizes that Chapter 11 is usually only an option for businesses and not private individuals trying to eradicate debt.

Without an experienced bankruptcy professional guiding your way, Chapter 7 and Chapter 13 might seem like nebulous concepts. How do you know, for example, whether you should consider liquidation? How do you know which option can better help you reorganize your credit and dispel unsecured debt? In cases like these, you need to consider what Chapter 7 Bankruptcy and Chapter 13 Bankruptcy both bring to the table, how they can help you understand and navigate your financial situation, and what you should do when and if you choose to file for bankruptcy as an individual in New Jersey.

Are Merchant Cash Advances Legal in New Jersey?

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 Can You File Emergency Bankruptcy in New Jersey?

There is a pile of envelops, unopened, piling like a mountain outside your door – so dense and heavy you cannot escape your home. The statements from the bank reveal your accounts are empty. You have no lines of open credit left. The accumulating unpaid dues are too much. Your credit score is in the gutter. Bankruptcy is your best option right now, and you need it now.

Bankruptcy always feels like an emergency. Financial difficulties are urgent matters that drag us into the muck. Debts and unpaid bills tether us to weights that plunge us into a financial oblivion from which there seems to be no escape. Or, at least, that is how it appears. No situation is ever as hopeless as it appears when you are experiencing it. Your problems have solutions.

Emergency bankruptcy is one such solution. However, what differentiates an "emergency bankruptcy" from an ordinary bankruptcy? As it turns out, very little.

Scura Represents The First Subchapter V Bankruptcy Plan for an Individual

We are proud to present the first consensual Chapter 11 Subchapter V Bankruptcy Plan of Reorganization for an individual debtor. Here, the Debtor’s proposed plan of reorganization was approved by the US Bankruptcy Court for the District of New Jersey on September 8, 2020, and was primarily handled by one of Scura’s attorneys, Carlos D. Martinez, Esq. This is a groundbreaking case for bankruptcy law and for the implementation of the new Small Business Reorganization Act

The Chapter 7 Bankruptcy Engagement Ring Scandal – Can a Ring be Liquidated?

Marriage is a life-altering event for so many people. However, so is bankruptcy. When the two become embroiled in one another, things can quickly unravel into a complicated, involved mess. Such is the case with one of our clients, who we refer to as Moon, who wished to file for bankruptcy, only for one conditional gift to fall into a legal gray area.

Moon wished to be married. He had already proposed to his bride-to-be, who wore an engagement ring on her finger. The ring was valued at $30,000, making it quite the valuable stone. However, in the months following his proposal, Moon realized he might need to consider filing for bankruptcy. Specifically, Chapter 7 Bankruptcy. Often referred to as the Liquidation Chapter, Chapter 7 Bankruptcy involves the filing debtor to retain certain assets while the remaining assets, if any, are sold and distributed pro rata to his/her creditors in an effort to partially satisfy the debts that are not wiped thanks to filing. The filing debtor’s assets are determined at the time of filing.

While Chapter 7 Bankruptcy would erase all of Moon’s financial woes, filing introduced a new concern: would he be forced to sell-off the engagement ring he gave to his fiancé to settle his debts?

10 Ways to Improve Credit After Bankruptcy

It is not an understatement to say that filing for bankruptcy can impact your credit score. Many fear the intense impact such a filing can have on their score, fearing apocalyptic repercussions of such a deal. Many of these anxieties are exaggerated responses, since very often bankruptcy can have a positive impact on those who need relief most. Filing for bankruptcy can result in score improvement between two months and one year of filing if you had serious delinquencies on debts prior. However, those with perfect credit scores or those whose debts primarily that do not show up on New Jersey credit reports, such as medical bills, will often see a significant drop in their credit score after filing for bankruptcy.

Collectibles and Bankruptcy: Keep Your Hands of My Princess Diana Beanie Baby

Everyone possesses something that carries with it great emotional value. It can be a possession we cherish, put on display, tell others its worth, and maintain even as years – decades, even – pass. Some are willing to spend extraordinary amounts of money to get a hold of a collector’s item. Old Civil War weapons, old car models, old film props – all are collector’s items worth thousands to the average collector but worth all the money in the world to those who treasure them.

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