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Completing your Chapter 13 plan is a wonderful feeling. You’re finally at the end of a long and involved process that has intertwined with your financial life for three or more years. But what happens next? What should you expect? The Final Payment After you make the final payment, the trustee audits your case. Assuming…

Renting an apartment after bankruptcy can seem daunting, but it’s important to remember that you’ve got options. Regardless of whether you filed a Chapter 7 or a Chapter 13, it’s possible to find a rental unit that fits your needs and budget. The housing market may be tougher than ever, but there’s no reason why…

Thinking about filing for Chapter 7 bankruptcy?  It’s not available to everyone. Anyone who wishes to file Chapter 7 must pass the means test. The means test was first established in 2005, under the Bankruptcy Abuse Prevention Consumer Protection Act (BAPCPA).  The means test is a two-part test. The Income Limit Test The first test…

In Bartenwerfer v. Buckley, the nine Justices of the Supreme Court had a rare moment of agreement. They ruled unanimously that a person cannot use the Bankruptcy Code to discharge fraudulent debt incurred by a spouse.  Debts incurred via fraud usually are among the few debts that bankruptcy cannot discharge. The issue was that Kate…

Behind on your mortgage? Few events are more stressful than a potential foreclosure, but here in New Jersey, you do have options. Here are all of the steps you could take to save your home. Option #1: Seek Counseling  On January 24, 2022, the legislature permanently expanded the New Jersey Housing and Mortgage Finance Agency’s…

Nearly 9 out of 10 active service members need help with their finances. Inflation hasn’t helped.  Yet many service members are terrified to file for bankruptcy. You have the same rights to file for bankruptcy as civilians do. While we recommend talking to your commanding officer and an attorney like Michelle, it’s more common than…

Most people depend on employers to survive, so it’s natural to wonder how an employer might treat your bankruptcy. We’d love to tell you there won’t be any impact whatsoever, but the answer is a little more nuanced. Your Current Job Federal law prohibits employers from terminating you, demoting you, reducing your salary, or reducing…

It’s no secret that living in Newark, NJ, costs more than living in other areas of the country. Inflation isn’t helping matters any. So it’s natural to worry about whether Chapter 13 will be a good decision for you. There’s something terrifying about letting a faceless trustee determine how much money you get to live…

As of this writing, foreclosures are surging here in New Jersey. Bankruptcy can be an important tool in protecting yourself from foreclosure. And unfortunately, single-family homeowners aren’t the only ones who are vulnerable. So are small-scale landlords, or those who had the chance to buy vacation properties during better times.  A mortgage cram down might…

Roughly 6% of bankruptcy filers attempt to file bankruptcy pro se, that is, without the help of a bankruptcy lawyer. The temptation certainly makes sense…you’re already worried about money, and you might be afraid that you don’t have the means to pay a lawyer. Yet attempting to file bankruptcy yourself is usually a deadly financial…

If you’re worried about your credit after bankruptcy, we’ve got great news. While it won’t be true for everyone, your credit score is likely to go up after bankruptcy, not down.  Yet there are steps you can take to make your credit score even higher. There are some people who have even managed to obtain…

Roughly 11 million Americans owe back taxes amounting to about $114 billion. Falling behind on your taxes is extremely stressful, but bankruptcy can help. Unfortunately, bankruptcy cannot help with all of your tax liability. Filing bankruptcy will at least stop tax garnishments for the duration of your automatic stay. Keep in mind that you must…