Resumption of Random Audits by US Trustee of Consumer Bankruptcy Cases
Resumption of Random Audits by US Trustee of Consumer Bankruptcy Cases

Resumption of Random Audits of  Chapter 7, Chapter 11, and Chapter 13 Consumer Bankruptcy Cases. Random Audits of Under the Bankruptcy Code, beginning with the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), the Office of the United...

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Can a Homeowner Use Bankruptcy to Eliminate Credit Card Debt in NJ?
Can a Homeowner Use Bankruptcy to Eliminate Credit Card Debt in NJ?

The Decline of NJ Home Prices Now Allows Many Homeowners to Use Bankruptcy to Wipe Out Credit Card Debt. The value of home prices in Middlesex County, New Jersey, almost doubled in less than ten years between 1997 and 2007....

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Mortgage Forgiveness Act Exemption Expired on December 31, 2013 And May Have Major Impact on Homeowners Decision to Pursue Bankruptcy in Foreclosure
Mortgage Forgiveness Act Exemption Expired on December 31, 2013 And May Have Major Impact on Homeowners Decision to Pursue Bankruptcy in Foreclosure

Since 2007, homeowners who conducted short sales and other loss mitigation alternatives on their properties were able to exempt any income associated with their mortgage company's write-off of any debt under the federal mortgage forgiveness act.    However, Congress allowed the...

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New Study Demonstrates that Only 1 in 10 attempts by “Debt Settlement Companies” Prove Successful
New Study Demonstrates that Only 1 in 10 attempts by “Debt Settlement Companies” Prove Successful

New Study Demonstrates that Only 1 in 10 attempts by "Debt Settlement Companies" Prove Successful.   http://nacba.org/News/ConsumerAlertDebtSettlement.aspx Frankly, this supports what experienced Bankruptcy Lawyers have been advising their clients for many years. In many cases, we often advise clients that even...

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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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What Debt Collectors Can and Cannot Do?
What Debt Collectors Can and Cannot Do?

People who are experiencing serious debt problems face many difficult decisions.    If they feel that they are unable to pay their creditors and debt, they may face the difficult choice of whether to consider a Chapter 7 or Chapter...

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Case Highlights Importance of a “Complete” List of All Creditors in Chapter 13 or Chapter 7 Bankruptcy
Case Highlights Importance of a “Complete” List of All Creditors in Chapter 13 or Chapter 7 Bankruptcy

The Bankruptcy Code requires that a Bankruptcy Petition, whether it be a Chapter 7 or Chapter 13 Bankruptcy (or any other Chapter), include a complete list of all debts owed at the time of the filing of the Bankruptcy Petition....

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Treatment of  Automobile Expenses under Bankruptcy Act of 2005
Treatment of Automobile Expenses under Bankruptcy Act of 2005

As with many aspects of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 ("BAPCPA"), practitioners and Courts have struggled with the question of determining the treatment of automobile expenses under the Code. To date, most cases have focused...

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Some Receipts Not Counted as Income in Chapter 7 or Chapter 13 Bankruptcy Cases
Some Receipts Not Counted as Income in Chapter 7 or Chapter 13 Bankruptcy Cases

A main issue in any Chapter 7 or Chapter 13 Bankruptcy case is the calculation of what is known as "current monthly income".    This issue is the often the most important one in determining whether a debtor qualifies for...

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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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