Having to file for bankruptcy a second time is more common than you might think. Maybe it has been a few years since you filed for bankruptcy and you have again found yourself in a financial situation that is too difficult to manage on your own. The good news is that you are not limited …
What if I Have to File Bankruptcy a Second Time? Read More »
Managing your money is not always an easy task, but it does not have to be difficult. Not only am I here to guide you through the bankruptcy process, I am also committed to helping you learn ways to take control of your finances. Many of my clients find themselves living paycheck to paycheck. The …
If you are considering the possibility of filing for bankruptcy, among many other questions you may have, you are undoubtedly wondering “how will bankruptcy affect my day-to-day life?” Rest assured there are some real positives that come with filing for bankruptcy. In fact, the positives outweigh the negatives. People Worry About the Following: Some people …
How will filing bankruptcy affect my daily life? Read More »
Many of my clients ask if they should file for bankruptcy and divorce together. While there is no “one right answer” that fits every case, in general, it is recommended to do them separately. This leaves one more question: which should come first, and which should come second? Again, the answer depends on your circumstances, …
A key concern for practically everyone considering bankruptcy is whether their assets will be protected – i.e. whether or not they will be able to hang on to their home, car, and other assets. While bankruptcy law can be complex, and while everyone’s case is unique, in broad strokes the answer is that all of …
The broad answer to that question is: Mostly no. In general, tax refunds are considered to be part of the assets of your estate like money in the bank. Nj bankruptcy exemptions allow each person to exempt or protect up to $13,000 in any assets, including tax refunds. Absent other substantial assets, refunds are rarely …
Initially, deciding which type of bankruptcy to file for may seem confusing. Let’s see how we can help you in understanding bankruptcies.. There are four basic types of bankruptcies: Chapter 7, Chapter 13, Chapter 11, and Chapter 12. Since Chapters 11 and 12 pertain to corporations or farmers, the average person only needs to understand …
How Do I Know What Type of Bankruptcy to File For? Read More »
Our very first piece of advice: DON’T BE AFRAID OF BANKRUPTCY! It isn’t a moral failing; it is nothing more than a sound business decision. Bankruptcy is designed to give the honest person a fresh start. When should you start filing for bankruptcy? In a nutshell, when you are in an overwhelming, no-way-out financial situation. …
If you are thinking about filing for bankruptcy, then you’re also likely wondering how to talk about it with family members. Here are a few tips to help you discuss your decision to file for bankruptcy with loved ones. Be honest and accountable. It would be helpful for family members to understand the reasons that …
When people are thinking about filing for bankruptcy, they often wonder how much of their debt will be erased or discharged. This is because when debt is discharged, individuals aren’t legally required to pay it back and creditors can’t come after them. Although bankruptcy eliminates some debt, it may not eliminate all of it. This …
Which Types of Debt Are Discharged and Which Remain After Bankruptcy? Read More »
Hundreds of thousands of Americans, including consumers and business owners, file for bankruptcy each year. While many think this situation is the result of overspending, most cases are due to financial hardship such as job loss, costly medical bills, divorce, or a poor economy.
