Bankruptcy

To determine whether or not bankruptcy is an appropriate solution for debt relief, New Jersey courts have established a means test. Understanding Chapter 7 means test A means test is a way for the state to determine whether a person qualifies for Chapter 7 bankruptcy....

When New Jersey consumers file for bankruptcy, they have a right to choose between the state bankruptcy exemptions and the federal bankruptcy exemptions. These exemptions protect some level of property of the filer as they go through the bankruptcy process. On April...

Residents of New Jersey may want to learn more about filing for bankruptcy. Many think that you lose everything, but that is not the case. In fact, you may eventually end up with an improved credit score. According to financial advice, there are many myths that...

New Jersey residents who have trouble paying off their debt might need a helping hand. Bankruptcy is often a good option for alleviating the burden. Before filing, you often receive a bankruptcy certificate. It’s important to know what it is and how it works. What is...

Vice President Kamala Harris announced that the federal government is making more strides toward assisting individuals who are struggling with medical debt. Harris says she understands that some families are scared to bring their children and other loved ones in for...

A trustor or trustee who is in debt might consider filing for bankruptcy in New Jersey. It's important to know if and how a trust qualifies for bankruptcy. Qualifying for bankruptcy The U.S. Bankruptcy Code states that an individual can file for bankruptcy for a...

Sometimes, consumers in Woodland Park, New Jersey, get overwhelmed with debt and consider filing bankruptcy. Consumers can remove certain unsecured debts, such as medical, in Chapter 7 bankruptcy by selling nonexempt property. However, not all consumers are eligible...

Many myths exist regarding bankruptcy, and one misconception may center on the debtor's overall income and obligations. Beliefs that only wealthy New Jersey residents seek bankruptcy protection are inaccurate. Low-income earners could find themselves dealing with...

When consumers in New Jersey see no way out of debt, bankruptcy allows them to discharge certain unsecured debt. However, not all unsecured debts qualify for discharge, such as domestic obligations. It is commonly believed that student debt cannot get discharged, but...

If you file for Chapter 7 bankruptcy in New Jersey, you may be at risk of losing property, such as a home, car or expensive jewelry. However, the federal government provides you with a variety of exemptions that may make it easier to protect the equity built up in...