Chapter 7

When contemplating bankruptcy, several concerns may arise. The first is usually what happens to my credit and finances once I file for bankruptcy. But one concern may be about the court process itself. If you’ve never been to court, or possibly even more so if...

If you are struggling with debt and have been unable to pay your bills, creditors have ways to recover that money. One way to do so is with wage garnishment. If this occurs, your employer will be court-ordered to withhold a portion of your income until the debt is...

Part of the process of petitioning for bankruptcy under Chapter 7 ("liquidation" bankruptcy) is that the debtor must compile a list of property in his or her possession. The bankruptcy court and the bankruptcy trustee will use this list to determine what property may...

Working with a trustee in bankruptcy is an essential part of the bankruptcy petition and process, but for many people the question of who these trustees are and precisely what their role is can be a mystery. This post provides some basic information on the topic.In a...

Many law firms in New Jersey will tend to focus on specific areas of the law. At [nap_names id="FIRM-NAME-2"] & Associates, our focus is on bankruptcy law, along with foreclosure law and the law as it relates to consumer debts like credit cards.Other law firms may...

Chapter 7 bankruptcy is also referred to as "liquidation bankruptcy." This can be a very scary and intimidating phrase for those who have spent a lifetime acquiring the necessities of life; those essential elements of the American dream, such as a home and a...

Sometimes married couples find themselves in conflict over finances, which can ultimately lead to filing for a divorce. In such an eventuality, bankruptcy can be a mechanism to help each party deal with the money issues pertinent to divorce. Divorce and bankruptcy by...

Trying to achieve a fresh start is a common reason given by New Jersey residents for filing for bankruptcy. Student loan debt can pose financial challenges in a Chapter 7 or a Chapter 13 bankruptcy, because of special rules that make discharge of such debts extremely...

Chapter 7 bankruptcy is conversationally referred to as "fresh start" bankruptcy because, unlike its Chapter 13 counterpart, it eliminates or "discharges" most consumer debts. But Chapter 7 should not be mistaken as a means of completely doing away with all personal...

If you have reached the point where you are considering Chapter 7 bankruptcy as an option for debt relief -- and assuming that you qualify to use Chapter 7 bankruptcy -- then your next inquiry may be how the Chapter 7 process works.To begin with, you will file a...