New Jersey Bankruptcy Lawyer | New Jersey Bankruptcy Attorney » Chapter 7

What Are You Worried About?

admin — Sun, 04 Apr 2010 18:20:54 +0000

A lot of the client who call my office are worried about one thing or another – especially if they can keep ALL of their property in bankruptcy. Fortunately, for 90% of my clients they have no problem keeping ALL of their property in bankruptcy. When you file bankruptcy in New Jersey you can elect to use the Federal bankruptcy exemptions which are more favorable to debtors than the New Jersey exemptions and a lot of other state exemptions. I do a lot of work in Florida and New York and I can say that working with clients in New Jersey is a lot easier in terms of helping them keep their property. So while you may be worried – don’t be – after our free over the phone consultation you will know with certainty whether or not you can keep all of your property in bankruptcy.

Another important point to keep in mind is that I will need to know all of your assets. Before you give me a call write it down so that I can have all the information available when we speak. How many checking and savings accounts do you have? How many cars are in your name? Do you have term or whole life insurance? If you know the answers to these types of questions then I will be able to help you find out very quickly over the phone whether you can keep all of your assets or not.

I work with clients from all over New Jersey in Atlantic County, Bergen County, Camden County, Passaic County, Ocean County etc. Give me a call and let’s get started.

Unemployment Benefits

admin — Sun, 07 Feb 2010 01:56:11 +0000

I recently had someone call my office who wanted to file for bankruptcy in NJ. Everything looked good except for the fact that this person was receiving unemployment and was also working. This problem did not at all occur to the client. I asked the client – do you realize that you are working and receiving unemployment?! If I file your bankruptcy, you will have big problems. You cannot work and make above a certain amount and receive unemployment. This is not only dishonest, but this is a crime. If I filed this person’s case, this person would be exposed to all sorts of possible problems criminally. In an effort to help my clients, I must be aware of all sources of income. It pays to be a lawyer who knows the law in general, not just specific to bankruptcy.

If you are looking for a bankruptcy lawyer in NJ, then please give me a call so I can help you. I am now meeting clients in Newark, Edison, Atlantic City, and Jackson, NJ. I look forward to working with you.

Why You Should NOT Reaffirm Your Home Loan

admin — Wed, 25 Nov 2009 20:36:43 +0000

Many of my clients are set on reaffirming their loan on their home in a chapter 7 bankruptcy. I want to remind all of you that you can keep your home in a chapter 7 bankruptcy if it can be exempted as well as if you keeping current on your mortgage. There is absolutely no compelling reason to reaffirm the debt on your home in bankruptcy.

If you do not reaffirm the debt on your home then the bank cannot come after you and take back the home unless you stop staying current on your home (which is what they could have done before you filed for bankruptcy). When you file for bankruptcy and we list the home loan debt, that allows you to not be personally liable for the home loan debt if at any time in the future you stop being current on the home loan, the bank forecloses, and gets a judgment for the deficiency against you personally.

Lenders are not sending letters to clients apprising them that they will continue to send them bills for the home loan as usual even if they do not reaffirm their mortgage. So simply put, don’t reaffirm the debt, and continue to make your usual payments to the bank and enjoy your home without any personal liability.

Please give me a call about specific details since I am just touching the surface of the issues in this post. Call me at (973)-272-7691.