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 Courts Rule SBA Must Consider Bankrupt Applicants for Loans
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 for an emergency loan designed to aid employees of small...

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Impact of COVID-19 on Chapter 7 Bankruptcy Discharges
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 Court for taking prompt and reasonable steps to ensure the...

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Sub-Chapter V Small Business Debtors and Confirmation of A Plan of Reorganization
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 hold a status conference “to further the expeditious and economical...

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Sub-Chapter V: Makes It Easier For Small Businesses to Reorganize
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 small business election under Chapter 11 the debt limit is...

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Coronavirus Stimulus Package: Will It Be Enough To Save Small Businesses
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 devastating effect on businesses throughout the country. With New Jersey...

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Coronavirus (COVID-19) and Foreclosure Relief
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 certain mortgages. With the implementation in New Jersey of Executive...

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Supreme Court Rules on Bankruptcy Case Involving Automatic Stay
Supreme Court Rules on Bankruptcy Case Involving Automatic Stay

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...

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Chapter 7 Bankruptcy Case Analysis
Chapter 7 Bankruptcy Case Analysis

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...

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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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