Before congress overhauled the Federal Bankruptcy Code in 2005, banks and credit card companies spent millions in lobbying efforts in an attempt to make bankruptcy the “option of last resort” rather than a convenient way for consumers to wipe out credit card debt, which seemed impossible to pay. Legislators on both sides of the isle […]
NJ personal bankruptcy law
Chances are, if you are considering bankruptcy, you already owe more than you can afford to pay. You may be tempted to “cut corners” and try filing bankruptcy without the aid of an attorney. Or you may consider using a “bankruptcy petition preparation service.” You may do so, but you should know the risks you
Lets begin by explaining what a reaffirmation agreement is, and why and/or how it may apply to you. A Chapter 7 Bankruptcy is filed to wipe out all of the debts you may have. A reaffirmation agreement is an agreement whereby you agree to keep a specified debt. So why on earth would you ever
In true Lawyer fashion, “it depends!” Upon filing a petition in Chapter 7, all of your assets become part of an “estate” which is under the control of the Court Appointed Trustee. You are entitled to certain exemptions under the federal code Read More Here…
Perhaps collection agencies are calling you incessantly. You can’t afford to pay your debts at this time, and other creditors are threatening to bring suit. You are stressed beyond belief, and you can’t stand another embarrassing threat.