New Jersey Bankruptcy Median Income
New Jersey Median Income Figures for Means Testing Data Effective November 1, 2019
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…
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…
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…
sub-chapter v small business debtors and confirmation of a plan of reorganization
The goals of Sub-chapter V are to minimize the time and expense of small business reorganization. status conference Within 60 days of the filing, the bankruptcy court is expected to…
Sub-chapter v: makes it easier for small businesses to reorganize
ELIGIBILITY FOR SUB-CHAPTER V ELECTION Sub-chapter V election by a small business requires that the debtor have non-contingent, liquidated debts (secured and unsecured) totally not more than $2,725,625..00 (presently for…
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coronavirus stimulus package: will it be enough to save small businesses
The Coronavirus outbreak has caused the unprecedented shutdown of businesses by the government. While this may be necessary to control the spread of the virus, the shutdown is having a…
Coronavirus (COVID-19) and Foreclosure Relief
As federal and state governments continue to seek responses to the Coronavirus (COVID-19) pandemic, the federal government announced relief measures for mortgage delinquencies and a moratorium on foreclosure activities for…
Supreme Court Rules on Bankruptcy Case involving automatic stay
In Ritzen Group, Inc. v. Jackson Masonry, LLC, 589 U.S. ___ (2020), the United States Supreme Court unanimously ruled that where a creditor seeks “relief” from the “automatic stay” in…
