Congress Passes Bill Making it Easier to File for Bankruptcy
Congress Passes Bill Making it Easier to File for Bankruptcy

On June 7, 2022, the U.S. House of Representatives passed bill S.3823, which is now expected to be signed by President Biden. This bill will increase the debt limits that a debtor – individual, married couple, or business – to...

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BANKRUPTCY FAQ: MEDIAN INCOME FIGURES FOR NEW JERSEY BANKRUPTCY CASES EFFECTIVE NOVEMBER 1, 2020
BANKRUPTCY FAQ: MEDIAN INCOME FIGURES FOR NEW JERSEY BANKRUPTCY CASES EFFECTIVE NOVEMBER 1, 2020

New Jersey median income changes effective November 1, 2020, will impact bankruptcy cases. The U.S. Trustee Program announced updated information on New Jersey median incomes. The changes are important for Chapter 7 Bankruptcy cases and Chapter 13 bankruptcy repayments. New...

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COVID-19 Bankruptcy Relief Extension Act Ends on March 27, 2022 – Act Now
COVID-19 Bankruptcy Relief Extension Act Ends on March 27, 2022 – Act Now

In Chapter 11 Bankruptcy, there is what is known as a Subchapter V. There are significant benefits for a small business to file Subchapter V instead of a typical Chapter 11.  This includes two (2) complicated but important concepts: “Absolute Priority”...

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GBC REOPENING Policy – JUNE 2021
GBC REOPENING Policy – JUNE 2021

As New Jersey has announced the loosening of restrictions in response to the Coronavirus (COVID-19) pandemic, Gillman, Bruton & Capone, (“GBC”), is happy that we are able to reopen our offices to the public again effective June 1, 2021. Our...

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Social Security Benefits will have record low increase in 2021
Social Security Benefits will have record low increase in 2021

The Social Security Administration (SSA) announced that benefits will increase by 1.3% in 2021 for the annual cost of living allowance (COLA). Obviously, social security benefits are essential for older Americans to maintain current in their household expenses. The historically low COLA...

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Social Security Benefits will have record low increase in 2021
Social Security Benefits will have record low increase in 2021

The Social Security Administration (SSA) announced that benefits will increase by 1.3% in 2021 for the annual cost of living allowance (COLA). Obviously, social security benefits are essential for older Americans to maintain current in their household expenses. The historically...

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Bankruptcy Law Changes Approved by House Committee
Bankruptcy Law Changes Approved by House Committee

The U.S. House Judiciary Committee has approved two (2) important potential changes to the Bankruptcy Code to protect consumers who are faced with overwhelming debt. STUDENT LOAN DEBT The Committee passed H.R. 2648, the Student Borrower Bankruptcy Relief Act of 2019...

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Cover Your Assets: Asset Protection for New Jersey Business Owners
Cover Your Assets: Asset Protection for New Jersey Business Owners

Going into business for yourself is a risky endeavor. From investing in goods and services and hiring employees to simply carrying out the daily tasks related to your business, each step is fraught with risks. This is especially true given...

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Bankruptcy Courts Rule SBA Must Consider Bankrupt Applicants for Loans
Bankruptcy Courts Rule SBA Must Consider Bankrupt Applicants for Loans

Judge Cynthia C. Jackson of the U.S. Bankruptcy Court for the Middle District of Florida became the latest judge to rule that the Small Business Administration cannot reject an applicant for an emergency loan designed to aid employees of small...

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Impact of COVID-19 on Chapter 7 Bankruptcy Discharges
Impact of COVID-19 on Chapter 7 Bankruptcy Discharges

The Coronavirus (COVID-19) pandemic has affected even the New Jersey Bankruptcy Court normal process of entering a discharge in a Chapter 7 Bankruptcy case. We applaud the New Jersey Bankruptcy Court for taking prompt and reasonable steps to ensure the...

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