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Bankruptcy and Beyond
I was recently invited to speak to a group of businesswomen in Hunterdon County - Bankruptcy and Beyond. The presentation addressed some important FAQ's about consumer bankruptcy cases. Questions like: Do I qualify? What will happen to my credit? Can't I just negotiate with my creditors instead of filing for bankruptcy? The complete power point is attached. It is a [...]
New Supreme Court Justice’s first published opinion is a “win” for the Credit Card companies.
Recent Supreme Court decision, Ransom v FIA Card Services, reminds consumer debtors and their attorneys to watch how they calculate their deductions for the "means test"! A debtor in bankruptcy who owns a vehicle and does not have a loan or lease payments may not deduct the expense of having that vehicle for purposes of calculating eligibility for a chapter 7 bankruptcy or [...]
Chapter 7 Means Test – Prospective Client Q&A
Prospective Client Question: If one's income is more than the means test in NJ, can they still file a chapter 7? Debt is substantial (many times my income) and includes debt that is non-dischargeable. Do own home but am way behind in payments. Answer: The short answer is: maybe. There is a complex form used to determine if you have [...]
Having Trouble Making Your Chapter 13 Plan Payments?
When I discuss Chapter 13 plans with my clients I know that it is important to be realistic. After all, five years is a long time. You file your petition and receive a confirmation of your plan. Meanwhile, life continues with all of its ups and downs. Your car might break down, you may find yourself with medical bills you [...]
A note about – Reaffirmation Agreements
I recently had a friend send me an email sharing her post-chapter 7 frustration with her mortgage company. The mortgage lender ("Lender") sent her a "reaffirmation agreement" during her bankruptcy case. Just FYI, this is fine; they are not violating the automatic stay by sending such a request. Her attorney did not explain the reaffirmation request to her and months [...]
Bankruptcy Timeline in a Nutshell
When considering a Chapter 7 filing one of the concerns people often have is how long the process will take. Chapter 7 Bankruptcy cases have a set schedule of events. Within 90-120 days after the initial filing, cases usually reach completion. Of course, unless problems arise such as form improper filings or a failure to disclose information about assets. Here [...]
Must Have’s in a Bankruptcy Case
Perhaps oversimplifying, but this is a good article to guide anyone who is in need of assistance in a bankruptcy case. I like it because it highlights some of the things I really stress: (1) only hire someone you feel comfortable working with (2) avoid "mills" where you will be treated like a number; and (3) hire a real bankruptcy [...]
Cracking the Code (What Environmental and Commercial Real Estate Attorneys Need to Know About the Bankruptcy Code)
Join me on November 29th from 1:00 p.m. to 4:00 p.m. in Times Square (exact address will be posted closer to the event) for a 3 hour LIVE presentation on Bankruptcy, Commercial Real Estate and Environmental Law. Outline: Part one: introduction (10 mins) Part two: bankruptcy basics (60 mins) Part three: hands on (review petition, docketsheet) (20 mins) Part four: [...]