Bankruptcy Court Increase in Filing Fees Effective June 1, 2014
The Judicial Conference of the United States Courts approved amendments to the fees applicable in New Jersey and all Bankruptcy Court cases. The increases below go into effect June…
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.…
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…
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…
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…
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…
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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…
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 13 Bankruptcy. These difficult decisions are often exacerbated by constant, harassing phone calls from debt collectors.
The Fair Debt Collection Practices Act (FDCPA) is Intended to Protect Consumers from Abusive Practices by Debt Collectors.
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, include a complete list of all debts owed at the time of the filing of the Bankruptcy Petition. In addition to the requirements of the Code, it is very important that a Petition contain a complete list to provide notice and best protect the Debtor from future collection efforts and to avoid future costs and time associated with addressing the claims of creditors who allege failure of service. A recent Chapter 13 bankruptcy case from Indiana shows why the failure to list a creditor may affect a case.
