Karina Lucid

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So far Karina Lucid has created 55 blog entries.

Switching Bankruptcy Cases from Chapter 13 to Chapter 7 in New Jersey

One of the major decisions an individual faces especially during difficult times is filing for bankruptcy. Unsecured debts brought about by mounting medical bills, credit card debt, and even unpaid utility bills can be hard to deal with especially if your monthly income is very limited. Some may have enough disposable income to file a Chapter 13 bankruptcy petition in [...]


How to File for Chapter 11 Bankruptcy: Business Reorganization

For businesses facing huge debts, avoiding closure and liquidation of assets are made possible by filing for Chapter 11 bankruptcy, commonly known as business reorganization. Under this type of bankruptcy, a business may renegotiate the terms in its contracts and leases, request creditors to discharge debts, and restructure payment plans in order to reach profitability. Declaring corporate bankruptcy will give [...]

Federal Bankruptcy Exemptions in New Jersey

Those who wish to declare bankruptcy have to go through necessary steps in order to enjoy the automatic stay and eventually arrive at a bankruptcy discharge. There are many elements involved in the bankruptcy process, and they have the potential to define one’s experience with personal bankruptcy. One of these influential factors is the list of bankruptcy exceptions that the [...]


No-Asset Chapter 7 Cases

What if I have no assets?  Are you considering bankruptcy? Refer to the bankruptcy code to find out which of the different types of bankruptcy you should file. For personal bankruptcy, the bankruptcy chapters you should pay attention to are either 7 or 13. 7 is the bankruptcy chapter involving liquidation while 13 is all about debt reorganization. A Chapter [...]

New Jersey Bankruptcy Basics in a Nutshell

You’ve probably heard credit card companies claim that people go bankrupt because they can’t control their spending. However, the fact is that you don’t have to misuse your credit cards to go into bankruptcy. People many times in the past have filed for bankruptcy with bankruptcy courts for reasons other than overspending. This blog will discuss New Jersey bankruptcy basics. [...]

Preparing for Bankruptcy in New Jersey

Are you after the bankruptcy protection that filers get when they petition for bankruptcy? If you’re a debtor in financial distress and you think that the automatic stay bankruptcies put in place will give you enough time to work out your financial problems without being hounded by the persistent debt collection efforts of your creditors and other collection agencies, a [...]

Confirmation Hearing for Chapter 13 Bankruptcy

Financial distress can drive people to seek bankruptcy protection. Bankrupt debtors can take a breather from their money worries when the automatic stay takes effect after they file for bankruptcy. Declaring bankruptcy is often considered the last resort, but it’s usually the viable solution for getting out of debt. For assistance on how to file bankruptcy correctly, it’s best to [...]

Automatic Stay in New Jersey Bankruptcy

Debtors get protection from persistent debt collection efforts when they file for bankruptcy under Chapters 7, 11, or 13. These types of bankruptcy trigger “automatic stay”, an injunction that halts all debt collection activities. With an automatic stay in place, creditors and collection agencies must immediately stop all collection efforts. When you file for bankruptcy, you are spared from the [...]

Bankruptcy Exemptions in New Jersey

If you want a solution for your financial problems that won’t cost you everything you own, you may choose to file for bankruptcy under a bankruptcy chapter that allows you to hold on to certain assets through exemptions. The most common personal bankruptcy chapters are 7 and 13; both allow filers to exempt some assets from bankruptcy proceedings. Exempt assets [...]


To Hire or Not to Hire a Bankruptcy Attorney

While bankruptcy cases all share certain similarities, there are different types of bankruptcy, and each bankruptcy case should be evaluated individually when considering the need to hire a bankruptcy attorney. Usually, the legal services of a bankruptcy lawyer are not a requirement in filing for bankruptcy. However, there are particular cases when taking that route is necessary. For instance, it’s [...]

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