Bankruptcy Info

Stimulus is Helping or Delaying Bankruptcies?

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Stimulus is Helping or Delaying Bankruptcies? 63% Decrease in NJ Bankruptcy Filings May 2019 Vs May 2020 New Jersey Bankruptcy filings for all cases:   Chapters 7, 11, 13, and adversary proceedings are down: May 1 – May 29, 2019     Total filings =   2,577 May 1 – May 29, 2020    Total filings =      946 Decrease:       1,631   […]

Bankruptcy Info

Smoking Expenses Helped Wife to File Chapter 7

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>Smoking May Be Bad for His Health But Good for His Wife’s Bankruptcy Background Wife Filed Chapter 7 Bankruptcy Non-Filing Spouse’s income is considered for household income Non-filing Husband had a $600 per month smoking habit. Court Ruling Cost of Husband’s smoking habit is not available to pay wife’s creditors Wife qualified for Chapter 7 […]

Bankruptcy Info

He What? Licked a prisoner’s ear. Now I have heard everything – and wants to exempt in Bankruptcy

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Background Correction Officer Ordered a prisoner to not only expose various parts of her body but also licked her ear. Prisoner filed a Court action against the Correction Officer. Correction Officer defaulted in the case. 2 years later, the Correction Officer appeared at a judgment hearing to contest liability. District Court determined that the liability […]

Bankruptcy Info

Credit Cards – 170 million Hold 1 or More

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Credit cards are the most frequently used financial product in America, with 60% of consumers— nearly 170 million — holding one or multiple cards. By the end of 2018, total credit card balances were around $900 billion, according to an August 2019 report by the Consumer Financial Protection Bureau.  Now may be the best time […]