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...
"Honestly is the best policy”. While the origins of the phrase are arguably linked to Thomas Jefferson, Benjamin Franklin, and even as far back as William Shakespeare, recent history and daily events lead many to believe that those whose conduct...
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...
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...
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...
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. ...
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"...
A Bergen County New Jersey Chancery Court has dismissed a mortgage foreclosure action ruling that the action was filed outside the Statute of Limitations. See Anim Investment Co. v. Shaloub, F-30508-18 (Ch. Div. June 30, 2016). Bergen County Superior Court...
The United States Bankruptcy Code is a powerful tool which, when used expertly, can provide the most precious remedy debtors who cannot pay their current obligations can possess - time. The remedy of time is not limited to sophisticated large...
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