“Life in the Sweatbox”: Debtors Frequently Struggle for Years Before Filing Bankruptcy
“Life in the Sweatbox”: Debtors Frequently Struggle for Years Before Filing Bankruptcy

Banks, consumer lenders, and the politicians who enjoy their financial support, often argue that those seeking a fresh start in the Bankruptcy Courts seek to discharge their debt when they encounter the slightest bump in the financial road.  They contend that...

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Bankruptcy FAQ: New Median Income Figures for New Jersey Bankruptcy Cases Effective April 1, 2018
Bankruptcy FAQ: New Median Income Figures for New Jersey Bankruptcy Cases Effective April 1, 2018

The U.S. Trustee Program has announced new 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...

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Bankruptcy FAQ: 2017 Chapter 13 Debt Limits
Bankruptcy FAQ: 2017 Chapter 13 Debt Limits

  Bankruptcy Code Chapter 13 Debt Limits Section 109(e) of the Bankruptcy Code establishes debt limits for a debtor, or married couple, to qualify for relief under Chapter 13 of the Code.   As with many monetary amounts in the...

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Did Obama Care Cause the Continuing Decline of Consumer Bankruptcy Filings
Did Obama Care Cause the Continuing Decline of Consumer Bankruptcy Filings

Bankruptcy filings have dropped from 1,536,799 in 2010 to 770,846 in 2016. How Much of the Decline Was the Result of the Affordable Care Care Act.? In an article “How the Affordable Care Act Drove Down Personal Bankruptcy” dated May...

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Chapter 13 Bankruptcy Debtor Required to Dispute Legally Unenforceable Proof of Claim
Chapter 13 Bankruptcy Debtor Required to Dispute Legally Unenforceable Proof of Claim

Supreme Court Holds that Debt Collector Who Filed a Claim in the Bankruptcy Court Barred by the Statue of Limitations Did Not Violate the Fair Debt Collection Practices Act, 15 U. S. C. §1692 et seq. In Midland Funding, v....

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Chapter 7 Bankruptcy Case and New Jersey Wage Garnishments
Chapter 7 Bankruptcy Case and New Jersey Wage Garnishments

  Bankruptcy Court Holds Consumer Debtor’s Wages, Garnished Within 90 Day Period Prior to Filing Chapter 7 Bankruptcy, Are a Preference A recent decision, Tower Credit, Inc. v. Schott (In re Jackson), 2017 U.S. App. LEXIS 4369, is highlights one...

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Chapter 7 Bankruptcy Case Highlights Conflict of Public Policy in Bankruptcy Code
Chapter 7 Bankruptcy Case Highlights Conflict of Public Policy in Bankruptcy Code

Former CEO Who Filed Chapter 7 Personal Bankruptcy Denied Discharge of Debt Owed to Employees by Insolvent Corporation The Bankruptcy Code provisions relating to a Chapter 7 Bankruptcy case seek to achieve two objectives which frequently conflict with one another. ...

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Chapter 7 Bankruptcy:  Failure to Discharge Judgment Liens Can Be Costly Error
Chapter 7 Bankruptcy: Failure to Discharge Judgment Liens Can Be Costly Error

A case decided by the Bankruptcy Appellate Panel of the Sixth Circuit, In re: McCoy, No. 15-8056 (6th Cir. 2016), illustrates why New Jersey attorneys representing debtors filing a Chapter 7 or Chapter 13 Bankruptcy Petition diligently do their "homework"...

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Small Business Debt – How the American Dream Can Become a Nightmare for Small Business Owners
Small Business Debt – How the American Dream Can Become a Nightmare for Small Business Owners

Owning and operating a small business is, for many, the American Dream.  Unfortunately, the dream has become a nightmare of inescapable debt for many those who have retained us to represent them because they did not understand the “spill-over” consequences...

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Attorney Cannot Discharge Malpractice Judgment in Bankruptcy By Claiming He Was Clueless
Attorney Cannot Discharge Malpractice Judgment in Bankruptcy By Claiming He Was Clueless

The provisions of the United States Bankruptcy Code are intended to provide fair and orderly relief for the “honest but unfortunate debtor” who can obtain a “fresh start” by distributing available assets, if any, to creditors and discharging debts "unhampered...

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