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...
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...
New Jersey Foreclosure Process Several years ago, we published a post called New Jersey Foreclosure: From Complaint to Sheriff’s Sale which turned out to be one of our more popular posts. Since there have been many changes in the foreclosure...
Effective July 2019, Critical changes to NJ Law on Adjournments of Sheriff Sales For many years, New Jersey property owners who wished to adjourn - or delay - a Sheriff’s Sale of their property acted under a long-standing New Jersey...
In Ritzen Group, Inc. v. Jackson Masonry, , 589 U.S. ___ (2020), the United States Supreme Court unanimously ruled that where a creditor seeks "relief" from the "automatic stay" in a bankruptcy case and is denied that relief, the creditor...
In a ruling which is sure to have future implications, the Third Circuit Court of Appeals, in In re: Denby-Peterson, No. 18-3562 (3d Cir. 2019), that a secured creditor does not have an affirmative obligation under the automatic stay to...
How a Chapter 7 Trustee may settle (or not settle) claims of a Chapter 7 Bankruptcy Debtor A recent case out of a Bankruptcy Court in Massachusetts highlights some important rights and restraints of a Chapter 7 Bankruptcy Trustee. In...
The U.S. Trustee Program announces Means Testing Data for Bankruptcy Cases. The median income for each family size for a Debtor (or married Debtors) to qualify for a Chapter 7 New Jersey Bankruptcy Case for cases filed on or after...
The United States Bankruptcy Code, when used in a timely and systematic way, is a powerful law that may allow both consumer and business debtors to wipe out some debts and to substantially restructure others. To protect the filing debtor...
One of the first things we advise all of our clients about filing bankruptcy is the requirement that a debtor disclose all required information. Whether filing a Chapter 7 Bankruptcy, Chapter 11 Bankruptcy or Chapter 13 Bankruptcy, the Bankruptcy...
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