Chapter 13

If you have decided to file for personal bankruptcy in New Jersey, you might be wondering what the differences are between filing for chapter 7 bankruptcy and filing for chapter 13 bankruptcy. Though the situation is stressful and all the new information can be...

In consumer bankruptcy, there are two major facets. One is chapter 7, in which debts are essentially forgiven. The other is chapter 13, in which the consumer must pay back the debts in a restructured payment plan. Within this, there are three different forms of debt....

We have written extensively in previous posts about the difficulties many students in New Jersey and elsewhere are having with the enormous amount of debt they have when they complete their college education. Students leaving college with five- and six-digit student...

Sometimes words can appear to be similar, but on closer inspection they have different meanings. If you have been thinking about a Chapter 13 bankruptcy as a debt reduction mechanism, you may have heard the terms "dismissal" and "discharge" both used in connection...

One of the biggest issues people have with bankruptcy is the realization that creditors may obtain access to their assets or income streams. Though there is some truth to this, there are also protections in place to prevent creditors from simply seizing whatever...

What may be the most significant difference between a Chapter 7 "liquidation" bankruptcy and a Chapter 13 bankruptcy is the latter's use of a repayment plan to satisfy debts to creditors.But what goes into crafting a repayment plan? What kinds of debts does it cover,...

Previously we have written about some of the differences between the two most common forms of personal bankruptcy: Chapter 7 and Chapter 13. One of the more significant of those differences is that while Chapter 7 discharges many debts completely, it may still leave...

Filing for bankruptcy is a valuable option for many who are struggling with mounting debt. The debt relief provided by filing for bankruptcy can make it easier for someone to deal with their debt, even if it takes a little longer than anticipated. As was the case...

When people hear "bankruptcy," most people probably assume that a person is going through a Chapter 7 bankruptcy. It is a relatively quick form of bankruptcy (usually lasting months) that allows the filing individual to get rid of old unsecured debts. Now, other debts...

While the economy is slowly improving in the wake of the recession, many homeowners are still struggling in the aftermath of the housing crisis. This is particularly true in New Jersey, where nearly eight percent of homes are behind on mortgage payments. Compared to...