Bankruptcy Info

Winds of Change Can Bring Us to a Better Place

December 12, 2013

At times all of us:  have been rejected, have made mistakes, have not been accepted for a position, had financial problems, etc.

You must keep moving forward and don’t give up with your long-term visions or plans for your life.

I have heard many say:  “I’m too far in debt so I just keep spending and charging – what is another $100 when I owe $70,000 to my creditors”.     The debt gets larger and larger until they make a change to do something to turn their lives around. Continue reading…

Do I Earn too Much to File for NJ Bankruptcy Protection?

December 2, 2013

I have been representing debtors in bankruptcies for over 20 years.

There are common misconceptions about earnings:

  •  “Bankruptcy is only for the unemployed”       or
  •  “I earn way too much to qualify for  bankruptcy”.

The truth is you cannot earn too much which makes you ineligible for bankruptcy. In fact, in a bankruptcy reorganization for individuals (Chapter 13), there is a requirement that the debtor have sufficient income to cover his/ her basic living expenses.

Most of my clients are employed.  Many of my clients had rather high incomes yet still qualified for bankruptcy.     By high incomes I mean $100,000 to $200,000 per year. One of my clients actually earned over $300,000 per year.

How is this possible? Continue reading…

Bankruptcy Filings Down 14% for March 2013

December 1, 2013

Bankruptcy filings for the twelve month period ending March 31, 2013, fell 14.4 percent when compared to bankruptcy filings for the 12-month period ending March 31, 2012, according to statistics released by the Administrative Office of the U.S. Courts. March 2012 bankruptcy filings totaled 1,170,324, compared to 1,367,006 bankruptcy cases filed in the 12-month period ending March 31, 2012.

Similarly, bankruptcy filings in New Jersey are down 19% during the same time period.

Continue reading…

New Mediation Program will be instituted for NJ Bankruptcy – Pending General Order

November 26, 2013

New Mediation Program will be instituted for contested NJ Bankruptcies:

There will be a new mediation program implementation set to begin April 1, 2014.  This is a court-supervised mediation program to facilitate resolution of contested matters and adversary proceeding for debtors, creditors and parties in interest. Continue reading…

Bankruptcy Filing – Honesty and Integrity

I’m sure many of you have read or heard about Teresa and Joe Giudice, co-stars of the reality show Real Housewives of New Jersey.

Their Chapter 7 Bankruptcy filing in New Jersey has hit the media and also the Government and taken front stage.

They are being charged among other items – Bankruptcy Fraud. Continue reading…

Would you Call Abraham Lincoln a Loser? Keep that in mind the next time you are discouraged about your financial situation.

November 19, 2013

Many people express shame and disgust when they contact me about filing for bankruptcy.

They feel like a loser.  They feel beaten down and they feel their live is over.  Nothing can be further from the truth.

A Bankruptcy can be a way for you to get a fresh start and wipe your slate clean and become debt free.

In fact, there are many famous people (Including Abraham Lincoln) who have filed bankruptcy and later rebounded bigger and better than ever. Continue reading…

Is Bankruptcy the Right Option for You?

Filing for NJ bankruptcy is a step that you may be thinking
about to help with your current debts. In order to determine if bankruptcy is
in fact the best option for your case, it is crucial to review all outstanding
debts and monthly income. Bankruptcy can allow you to rise above an
overwhelming amount of debt and pave the way to a stronger financial future. Continue reading…

What Will Happen After I File for NJ Chapter 7 Bankruptcy?

MonthlyBillsFiling for NJ Chapter 7 bankruptcy is a decision that can set you up for a brighter future by eliminating your outstanding debts. Being aware of the next steps can encourage you to feel confident and put you at ease in your decision. Understanding what happens after you file your initial petition for NJ Chapter 7 bankruptcy will ensure that the process goes as smoothly as possible. Continue reading…

Singer Dionne Warwick Files for NJ Chapter 7 Bankruptcy

“Do You Know the Way to San Jose” or…….. Newark New Jersey Bankruptcy Court? 

DionneWFor the past 50 years, Dionne Warwick has been recognized as a music icon. The songstress has released dozens of studio albums, a handful of live recordings and won five Grammy awards. Her extensive profile includes three songs in the Grammy Hall of Fame, including “Walk On By.” When she’s not making music, Ms. Warwick has acted, hosted TV shows and held a position as an UN Ambassador. Dionne has charted over 50 singles in the length of her career than all other female vocalists, except Aretha Franklin. Continue reading…

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