Does It Make Sense to Pay Debt Collectors in Newark, NJ?

When debt collectors are dialing day and night it is easy to start feeling scared, pressured, and depressed. Some people ignore every letter and call, which can be dangerous in its own way because this strategy can lead to a lawsuit. But scrambling to pay debt collectors can be even more dangerous, especially if you…

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7 Signs It’s Time for Newark, NJ Residents to Consider Bankruptcy

Bankruptcy is a big step, and it’s not always easy to know when you should take the plunge. Yet many people wait far too long to file. They scramble, dip into their retirement funds, and throw good money after bad. Fortunately there are some clear-cut signs that you can use to determine whether bankruptcy is…

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Can Bankruptcy Save Your Newark, NJ Home?

Bankruptcy can save your home in some cases. In fact, avoiding foreclosure is one of the primary reasons that our clients come to us for help. Saving your home isn’t simple. Here are the factors that will need to be taken into consideration as we attempt to help you.  Your Equity A certain percentage of…

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Why You Shouldn’t Use Retirement Funds to Pay Debts in Newark, NJ

A favorite tactic of debt collectors is to pressure you into taking money out of your retirement accounts to pay them off. Yet this is one of the worst financial moves you can possibly make.  Here’s why paying debts this way makes absolutely no sense at all. Almost all retirement funds are exempt in bankruptcy.…

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Filing Bankruptcy Without Your Spouse in Newark, New Jersey

Believe it not, you don’t have to file bankruptcy with your spouse if you don’t want to. Bankruptcy filing is associated with a social security number. That doesn’t mean your bankruptcy won’t touch your spouse, or your spouse’s financial life. Your social security numbers are listed in certain databases as associated numbers. You may have…

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How Do Bankruptcy Exemptions Work in Newark, NJ?

A bankruptcy exemption allows you to protect some of your property during bankruptcy. If you declare a Chapter 7 bankruptcy the trustee is usually allowed to sell off some of your property to pay off your debts. Exempt property isn’t touched. An experienced bankruptcy lawyer can make good use of exemptions to protect what matters…

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Handling Debts to Friends and Family Members in a Newark, NJ Bankruptcy

If you owe money to friends or family members you’re hardly alone. Nearly 60% of Americans have lent monet to friends or family members. Yet if you don’t handle these debts correctly upon filing for bankruptcy you can end up in a lot of trouble. Here’s what you need to know. Friends and Family Members…

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How to Prepare for Your 341 Hearing in Newark, NJ

When you file for bankruptcy the court will schedule a “341 Hearing,” or a “meeting of the creditors.”  This hearing is a chance for your creditors to ask questions about your assets and liabilities, as well as your income and expenses. It’s an opportunity to confirm facts that you’ve stated when you filed your bankruptcy…

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How to Stop Wage Garnishment in Newark, NJ

There are few things more frightening than being slapped with a debt collection lawsuit. If collectors are successful with their suit, they’ll end up garnishing your paycheck. Any creditor can try to garnish your paycheck. That means your employer gets a court judgment, which can threaten your job. Even if you keep your job it’s…

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Biden’s Covid-19 Relief Plan Proposal

On February 5th, 2021, President Biden proposed his Covid-19 relief plan. His plan aims to ease financial struggle. In this 1.9 trillion relief package he introduced a $1,400 stimulus check restricted to people with lower incomes. If an individual makes $75,000 or below (couples who make $150,000 or below) they are entitled to receive full…

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Navient ordered to return $22 M

On February 9th, the New York Times reported that the government student loan provider Navient overcharged the government $22 million in student loan subsidies. This began from a 2009 investigation by the Department of Education inspector general during the George W. Bush administration. A whistleblower in the Education Department discovered this massive amount owed to…

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Consolidated Appropriations Act

On December 27, 2020, President Trump approved the Consolidated Appropriations Act, 2021. This is a $2.3 trillion bill that combines the $900 billion stimulus relief for the COVID-19 pandemic in the United States with a $1.4 trillion spending bill that prevents a government shutdown. The bill will provide stimulus payments of $600 for individuals and…

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Protecting your home through the Cares Act

According to an article in CPA Practice Adviser, 79% of U.S. adults are experiencing stress from financial instability during Covid-19. However, it’s good to know your home is safe during this time. On March 19, 2020, Governor Murphy announced  Executive Order No. 106 which prohibits removing individuals from their homes pursuant to an eviction or…

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The talk of New Bankruptcy Provisions

On December 9th 2020, US Senator Elizabeth Warren and House Judiciary Committee Chairman Jerrold Nadler announced the possibility of a new bill called the Consumer Bankruptcy Reform Act of 2020. The Act will replace chapter 7 and 13 bankruptcy with a single system available to all consumers which would reduce filing fees and create a…

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PG&E Struggles to Remain Out of Bankruptcy Amid Victim Claims

PG&E (Pacific Gas and Energy) is struggling to come up with a plan to avoid filing for bankruptcy in the midst of constant blackouts and wildfires that have ravaged California. As California’s largest utility, the state is threatening to take over due to a lack of an agreement between the company, fire victims and its…

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