What is the Difference Between Chapter 13 and Chapter 7 Bankruptcy?
What is the Difference Between Chapter 13 and Chapter 7 Bankruptcy?

A Chapter 13 bankruptcy involves a reorganization of your existing debt and a Chapter 7 bankruptcy is a liquidation of assets. In order to be eligible for a Chapter 7 filing, you must be below the median income level for...

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Illinois Man Pleads Guilty to Misapplication of Funds and False Bankruptcy Statements
Illinois Man Pleads Guilty to Misapplication of Funds and False Bankruptcy Statements

Lekevie C. Johnson, a former Champaign, IL pastor, pleaded guilty on December 1st to federal program misapplication, student loan misapplication, and false statement in bankruptcy. Johnson operated a not-for-profit corporation that received federal grant funds from the United States Department...

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Defendants Convicted of Bankruptcy Fraud in Massive Foreclosure Scam
Defendants Convicted of Bankruptcy Fraud in Massive Foreclosure Scam

A Cincinnati jury found a Hamilton, OH man and a Brooklyn, NY woman guilty of multiple crimes, including bankruptcy fraud, in relation to a foreclosure scam that affected more than 750 homeowners across the country. 66-year-old Lorin Kal Buckner and...

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Alex Jones Files for Bankruptcy After Massive Civil Verdict
Alex Jones Files for Bankruptcy After Massive Civil Verdict

Alex Jones, a radio show host and conspiracy theorist, recently filed for bankruptcy. In 2012, after the tragic shooting at Sandy Hook Elementary, Jones began to spread his conspiracy theory that the government had planned this massacre, that no one...

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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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