Bankruptcy Info

Fines and Penalties in Municipal Court are Dischargeable in Chapter 13 Bankruptcy

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BACKGROUND: Debtor filed for Chapter 13 Bankruptcy and listed the Neptune Township Municipal Court as a creditor. Debtor’s driver’s license was suspended by the Municipal Court for non-payment of fines and penalties.  The Bankruptcy Court entered  an order voiding the Municipal Court’s suspension of Debtor’s driver’s license. Debtor’s Chapter 13 case was discharged and the […]

Bankruptcy Info

CORONAVIRUS UPDATE

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Options available for remote or in-person meetings. As always, my initial bankruptcy consultations are provided at no charge.  I look forward to in-person consults again but I am still offering you the choice.   So much is lost when you cannot meet face to face. Below are precautions my office is taking to protect you for […]

Bankruptcy Info

Cannot Hide Under the LLC Umbrella and Want the Court to Pierce the Veil for Bankruptcy

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Background: Debtor had several businesses that were limited liability corporations (LLC).   The Debtor’s personal residence was owned by his LLC as an asset. During a period of 14 years, Debtor transferred his home between his LLC and himself and did several refinances.  Debtor files for bankruptcy and his residence is owned by the LLC.   Debtor […]

Bankruptcy Info

Slick Deal Ends Up Bad for Debtor

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Background: Company Principals sold their Company A to Company B All become employees of Company B that bought them out One month later, all 3 principals did the following: Left Company B Went to work for a competitor Took trade secrets to their new employer Recruited a significant amount of employees Company B that bought […]

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   […]