These days, everyone seems to be preoccupied with their credit scores. That can be a factor in having your rental application accepted, getting that new car loan, and generally affecting the cost of your borrowing money and paying back debt. There are many ways for you to hurt your credit score. Here are a few: […]
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From our experience, we know that people file for bankruptcy for a number of reasons. Unemployment, death of a spouse, a costly illness or a divorce all may lead people to decide that bankruptcy is their best course of action. There are a number of fallacies that people have about filing for Chapter 13 and Chapter
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Most bankruptcies filed in the United States are either under Chapter 7 or Chapter 13. The kind that you file depends on a few criteria, including your income, assets, debts, and your financial goals. Here is a quick thumbnail of the differences between Chapter 7 and Chapter 13 bankruptcies. Chapter 7 is a liquidation bankruptcy
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Bankruptcy exemptions protect your property from your creditors. You have two choices when filing for bankruptcy in New Jersey. When you file you can choose between using the state exemptions or federal exemptions. Determining which set of exemptions to use is a crucial decision. Federal exemptions are usually more favorable. The federal bankruptcy exemptions available
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If you intend to file for bankruptcy, you might be concerned about the effect it might have on your employment. Can your employer find out about your Chapter 7 or 13 bankruptcy? Can you be fired because of the bankruptcy? And can a possible employer deny you a job because you filed for bankruptcy? No
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When you call my office to discuss the possibility of filing for bankruptcy, I will give you a detailed initial consultation to gather your personal facts so that I can advise you whether bankruptcy is right for you. If we agree, then we send you a packet to fill out with all of your financial
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People seeking relief from their liabilities may include gambling debts. Particularly in New Jersey, there are many casinos in the region as well as online gambling, as well as the proposed sports betting which may be legalized here. The problem gambler may easily lose control and find himself in substantial debt. The answer to whether
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Part of filing for bankruptcy is listing all of your assets on the petition. Most people have checking and savings accounts and want to know if they are protected once they file. At least part of your personal property is exempt under the Bankruptcy Code, see https://www.middlesexcountybankruptcyattorney.com/2013/11/ For debtors who do not own a home, the
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Can you keep your life insurance policy if you file a New Jersey consumer bankruptcy? That depends in part on what kind of life insurance policy you have. A term insurance policy, in which you pay a periodic premium in exchange for a death benefit, is unaffected by the United States Bankruptcy Code. However, a
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A client was recently convicted of driving under the influence and called for advice. New Jersey has some of the toughest laws in the nation for these situations. A driver convicted of DUI for the first time in New Jersey is required to pay court fines to the municipality where the offense occurred. S/he is
Can I Discharge Motor Vehicle Surcharges and Court Fines in Chapter 7? Read More »
The Whelan law firm has been committed to excellence for over 30 years. With offices located centrally in New Jersey, we are able to provide businesses and individuals with excellent legal services.
