Chapter 13 may be a viable option for you if you do not meet the requirements for Chapter 7 bankruptcy. Chapter 13 is also an option if there are certain assets you want to protect from bankruptcy. This blog will offer a brief guide to Chapter 13 bankruptcy. If Chapter 7 Bankruptcy Is Not an Option In many cases, debtors [...]
Everyone enjoys watching an explosive courtroom battle play out on their television screens. However, no one wants their own legal issues to go that route. That’s why mediation is an appealing solution for many New Jersey residents. As you explore different options for your needs, consider these benefits of mediation. Avoids Court Going to court is a highly stressful situation [...]
If you intend to file for bankruptcy, it helps to know crucial information on what is dischargeable or not. Maybe you are asking if tax debt is dischargeable under Chapter 7 or Chapter 13 bankruptcy. Most tax debts are not dischargeable in bankruptcy. You will still owe them at the end of a Chapter 7 bankruptcy case. And, you will [...]
How Long Does Filing Chapter 7 Take? With mounting debt and the incessant calls from collectors, you should not delay sorting out your financial troubles. You might even consider filing for Chapter 7 bankruptcy. However, the most important concern for many is the Chapter 7 bankruptcy timeline. A Chapter 7 bankruptcy case typically takes 3-6 months to complete. It is [...]
Do you get harassing phone calls from creditors? Does the phone ring late at night or early in the morning because of overdue bills? Do you know what they are doing is illegal? Laws Protect You There is a law on how collectors can go about doing their jobs, without unnecessarily causing inconvenience or harassment to the debtors. Case in [...]
Litigation and mediation are both dispute resolution tools. Two, or more, parties can utilized either when there is a dispute that cannot be resolved amicably. Litigation means that one or more of them have decided to bring a lawsuit in front of a court of law. A judge will decide the outcome of their disagreement. A judge makes a decision [...]
When we think of bankruptcy, we think of certain groups of the population. Most commonly, we think of students, younger individuals, and first-time homeowners. However, there is one segment of the American population that is catching up when it comes to filing for bankruptcy. That group is senior citizens. Every year, more and more senior citizens file for bankruptcy. Growing [...]
To qualify for a Chapter 7 bankruptcy in New Jersey, you must meet certain eligibility requirements regarding your current income. One of those requirements is the New Jersey means test. In other words, the test takes into account your financial means and income. Those who make too much money may not be able to file for Chapter 7 bankruptcy. Remember [...]
Bankruptcy and Divorce - Survival Strategies In New Jersey, Bankruptcy and Divorce are both common and scary words. At Lucid Law we see many clients who are either in the process of or have recently completed a divorce. Divorces are emotionally draining and, in New Jersey, they can be very financially draining as well. Our "Bankruptcy and Divorce [...]
"Don't Reclaim! Get Paid on Your 20 Day Claim!" Have a claim for goods sold to a debtor just before bankruptcy was filed? This article may interest you! Often business people are aware that they can file a motion to reclaim goods that were shipped to a debtor shortly before the debtor filed a chapter 7 or a chapter 11 [...]
