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Scura, Wigfield, Heyer, Stevens & Cammarota Blog

The Rise of Auto Loan Delinquencies: How Can Bankruptcy Help?

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According to a recent study conducted by the Federal Bank Reserve of New York, 7 million Americans with auto loans were 90 or more days delinquent in 2018.  More importantly, the study demonstrates that majority of those who were delinquent on their auto loans were low- to middle-income borrowers, under 30 years of age, and with subprime credit scores (credit scores of 620 and lower).

Treatment of Judgement Liens in Chapter 7 & Chapter 13 Bankruptcies

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If someone has obtained a judgment against you and docketed that judgment with the clerk of the superior court in Trenton, then that judgment-creditor has obtained a lien on all your real property located within the State of New Jersey. Often, judgment-creditors think that this act is sufficient to protect their interest in their judgment. However, this blog will evaluate the impact that a bankruptcy filing can have on a judicial lien.

Filing for Bankruptcy with A Side of Divorce Proceeding

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Filing for divorce is never an easy process. This can become more complicated when one of the spouses seeks to file for bankruptcy in the middle of a pending divorce proceeding. This blog will explore the factors that individuals need to consider if they’re looking to file for bankruptcy while their divorce proceeding is pending.

What Can Happen if I Stop Paying my Credit Cards?

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At first, you may skip a payment or two on your credit card payments because you are having a little trouble making ends meet. You intend to catch up the payment next month, but next month you still have trouble making ends meet, so you skip that payment too. Because the effects of skipping a credit card payment are small at first, it is easy to let that payment go if you are forced to choose between paying the credit card bill or paying the utility bill.

Filing Bankruptcy During Retirement in New Jersey

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More retirees in New Jersey and throughout the United States are filing for bankruptcy relief as they struggle to pay basic living expenses. According to a study published by the Consumer Bankruptcy Project, the number of individuals age 65 years and older filing for bankruptcy relief increased by 204 percent between 1991 and 2016.

Debt Relief for Baby Boomers

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With health care costs and inflation soaring, it’s not abnormal for elderly Americans ages 65 and older to seek out divergent financial strategies on debt relief. As their conventional ideals of retirement and later life transform with time, the rate of older folks has spiked to nearly three times the rate in 1991. So what’s behind this trend?

Can an Individual File for Bankruptcy Using A Power of Attorney?

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A Power of Attorney is a unique legal document that permits a designated party for conducting certain transactions on behalf of an individual. Some of these transactions may relate to insurance, property, banking, participating in legal proceeding, and health. A Power of Attorney can be limited to specific transactions or may be general enough to allow the designated party to conduct any transaction that the individual could have conducted. Over the years, our firm has filed numerous bankruptcy petitions using a Power of Attorney and has successfully litigated this issue.

What Happens to a Debtor's Bankruptcy Proceedings Following an Untimely Death?

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The loss of life is tragic for family members and on rare occasions loss of life may occur during a bankruptcy proceeding. If you are a successor-in-interest to a decedent’s estate that is in a bankruptcy proceeding, then you will need to be aware of what happens to debts when the debtor unfortunately passes away. While debts owed by the decedent may not automatically pass onto a successor-in-interest, it is important to be aware that creditors may seek assets from the decedent’s estate to sell and satisfy claims.

Can I Rebuild My Credit After Bankruptcy?

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It’s no secret filing bankruptcy can impact your credit score and reports. Reaching financial recovery through bankruptcy can be a long, jagged road. However, the notion you’re fated to a lifetime of horrendous credit after bankruptcy is completely false. It is absolutely possible to rebuild your credit following filing bankruptcy, provided you know how to.

Do I 'Qualify' for a Chapter 7 Bankruptcy in New Jersey?

Clients often ask if they qualify for a Chapter 7 bankruptcy.  People may not know much about bankruptcy before calling my office, but there is a general anxiety as to whether they will be "forced" into repaying some of their debt.

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