New Jersey Bankruptcy Median Income
New Jersey Bankruptcy Median Income

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...

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Bankruptcy FAQ: Median Income Figures for New Jersey Bankruptcy Cases Effective November 1, 2019
Bankruptcy FAQ: Median Income Figures for New Jersey Bankruptcy Cases Effective November 1, 2019

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...

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Chapter 7 Bankruptcy: List it or Lose It: Debtor Who Fails to Disclose Claim May Lose That Claim
Chapter 7 Bankruptcy: List it or Lose It: Debtor Who Fails to Disclose Claim May Lose That Claim

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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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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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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Chapter 7 Personal Bankruptcy Avoids Foreclosure Deficiency Judgments & Short Sale Personal Income Taxes
Chapter 7 Personal Bankruptcy Avoids Foreclosure Deficiency Judgments & Short Sale Personal Income Taxes

Chapter 7 Personal Bankruptcy Q & A: How Does a Chapter 7 Consumer Bankruptcy Effect Mortgage Foreclosure, Deficiency Judgments, Short Sales, Deeds In Lieu of Foreclosure & Personal Income Taxes. Mortgage Foreclosure - A Chapter 7 Bankruptcy Discharge DOES NOT...

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New Bankruptcy Means Testing Data
New Bankruptcy Means Testing Data

The U.S. Trustee Program has announced new Means Testing Data for Bankruptcy Cases.  The median income for each family size for a Chapter 7 New Jersey Bankruptcy Case for cases filed on or after April 1, 2013 is as follows:...

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Fifth Circuit Allows Deduction for Transportation Ownership for Debtor with No Loan Payment
Fifth Circuit Allows Deduction for Transportation Ownership for Debtor with No Loan Payment

A continuing issue in consumer bankruptcy cases in Chapter 7, 11 and 13, is the manner in which automobile expenses are treated in the calculation of "current monthly income".   As with many aspects of the Bankruptcy Abuse Prevention and Consumer...

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Where is a Bankruptcy Case filed in New Jersey?
Where is a Bankruptcy Case filed in New Jersey?

A common question we get is "where will my case be filed"?  Bankruptcy cases arise from the Federal Bankruptcy Code and therefore are heard and prosecuted in Federal Courts. In legal terms, this is called "jurisdiction". "Venue" is the legally...

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Checklist:  Tax Planning for Individuals filing Chapter 7, Chapter 13, or Chapter 11 Bankruptcy
Checklist: Tax Planning for Individuals filing Chapter 7, Chapter 13, or Chapter 11 Bankruptcy

The following is a short checklist of Tax Planning and Practice Strategies which may be followed by an attorney for an Individual considering the filing of a Chapter 7, Chapter 13, or Chapter 11 Bankruptcy. 1.  Whether to File a Bankruptcy Case? The...

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