Seeking bankruptcy protection from creditors is a step that should not be taken lightly. But if you have reached a point where that has become a serious consideration, you may be aware that there are two types of bankruptcy available to individuals: Chapter 7 and...
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Chapter 7
Hockey team files bankruptcy after owing fans and creditors
Sports fans and investors alike look forward to riding the ups and downs of the season with their favorite team year after year. Unfortunately, some New Jersey season ticket holders and charitable organizations have been recently deprived of that opportunity-- and...
Income gap linked to disproportionate student loan debt
So what’s a young person to do? Go to college, get a degree, get a better job, but be forever saddled by student loan debt? Or enter the working world without a degree but without student loan debt? Seems like a catch-22. But the decision is actually even...
Supreme Court to decide treatment of inherited IRA in bankruptcy
A case argued before the U.S. Supreme Court recently could drastically change the way retirement funds are handled in bankruptcy court. Currently, certain retirement funds such as IRAs are protected under the U.S. Bankruptcy Code and that same protection is extended...
Use of non-attorney bankruptcy preparer may impede debt relief
A recent trend in legal matters has been the growth of the do-it-yourself industry and non-lawyers helping people prepare legal forms and documents. In some very simple legal matters, this may be sufficient. But some areas of law require more expertise and experience....
One-quarter of families have medical debt concerns
Medical debt is one of the more stubborn types of debt for New Jersey residents to carry. High medical bills often lead families very deeply into debt.The Centers for Disease Control and Prevention released a reported in January that states that one-quarter of all...
Many New Jersey residents need relief from medical debt
Medical expenses are still the number one reason many households in New Jersey are forced into overwhelming debt. The hope of some that the Affordable Care Act would curb the rise of the cost of healthcare has been discouraged by glitches on the health care exchange...
Bankruptcy filings expected to soar as economy improves
Bankruptcy filings have been on the decline for the past few years, but financial experts say that the pattern could reverse this year as the economy continues making slow improvements. Yes, you read that right: An improved economy can actually result in more people...
‘Because they can,’ bank goes after people even after Chapter 7
When someone is approved for Chapter 7 bankruptcy, the debt relief agreement is supposed to take effect and relieve the filer of the agreed upon debts. A specific change that a bankruptcy filing should enact immediately is the end of creditor calls and harassment.So...
Medical debt is source of stress and legislative actions
Most people will carry some medical debt with them at points in their lives. Everybody makes doctor's visits. If they have kids, they make various visits a year. Plus, life hands people unexpected health situations. Maybe someone gets really sick. Or maybe someone is...
