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Scura, Wigfield, Heyer, Stevens & Cammarota Blog

Defending Against a Construction Lien Claim

If you are a property owner who has had a construction lien filed against your property, you may have defenses allowing you to discharge the lien at the lien claimant’s expense. Liens against property are problematic because they can prevent transfers of the property or impede your ability to obtain a mortgage. This article will explore some of the defenses available in the event a construction lien has been claimed against your property.

Injunctive Relief In Foreclosure Actions

Even before a foreclosure judgment is entered, a mortgage holder may be entitled to injunctive relief restraining a homeowner from collecting or receiving rents if it can show that it will undoubtedly suffer immediate, irreparable harm in the event the restraints are not granted.   It may also be able to obtain a court order compelling the tenants of the mortgaged premises to pay rents to a receiver.

Don't Get Tricked by Extra Fees In a Bankruptcy Retainer Agreement

Understanding the Different Types of Bankruptcy Retainers

Attorneys’ fees for a bankruptcy will always vary from attorney to attorney. For the most part, when you’re hiring an attorney to handle your bankruptcy case, you will be quoted a retainer amount plus the court costs associated with the filing. If the retainer is on an hourly basis, the client will be responsible to pay for services in excess of the retainer amount. If the retainer is for a flat-fee (or a one-time payment), there should be no additional charges by the attorney (with the exception of a few situations mentioned below). Regardless of whether the retainer is on an hourly basis or a flat-fee, the retainer amount should cover most, if not all, of the administrative aspects of the bankruptcy.

Top 10 Tips To Buying Car Insurance In New Jersey

1) Get Plenty of Uninsured/Underinsured Motorist Coverage

Underinsured/Uninsured Motorist Insurance Coverage is the most important insurance on your car that you can carry. In NJ, besides basic auto policies, all auto policies are required by law to have underinsured/uninsured motorist coverage in the minimum amount of $15,000 per person/$30,000 per accident. This minimal coverage is not enough. If you want to protect yourself and your family, you should increase your limits of uninsured/underinsured motorist coverage.

What You Need to Know About Chapter 11 Bankruptcy

There are several types of bankruptcy, and each type varies depending on certain characteristics of the debt. For example, individuals can file Chapter 7, 11, and 13. Corporations must file either Chapter 11 bankruptcy or Chapter 7. Family farmers will generally file Chapter 12 bankruptcy. Knowing the benefits and drawbacks, as well as the requirements to qualify as a debtor, will be helpful in determining which type of bankruptcy will work for your particular situation.

The Impact of a Sheriff Sale & Your Options In New Jersey Bankruptcy

In the aftermath of the 2008 financial crisis, many people have found themselves facing foreclosure wondering what their options are.  When a secured lender files for foreclosure, the end game (unless a modification is entered into between the parties) is for the secured lender to take the property to sheriff saleThis blog will explore the impact of a sheriff sale and your options through the bankruptcy code that are at your disposal.

Why Do I Still Owe Money After A Foreclosure Or Repossession?

Commonly, we receive calls from potential clients asking why they owe money to a creditor after their home was sold at a sheriff’s sale or a lender repossessed their automobile. Generally, the potential client is referring to a deficiency judgment.

If a debtor’s mortgage lender forecloses on a home, or if a car lender repossess a automobile for missed payments, and the lender cannot resell the property to satisfy the originating loan, then the debtor may be required to pay the “deficiency”. This can be terrifying, because many individuals believe that the sheriff’s sale or repossession was the end of any collection efforts.  Luckily, filing for bankruptcy can eliminate your personal liability for a deficiency judgment.

What Type of Creditor Claims are Listed in a Bankruptcy Petition?

In its simplest terms, a creditor is a person or entity who is owed money by a different person or entity. In bankruptcy, creditors are primarily categorized into three separate classes, which depends on whether the creditor maintains an interest in collateral the debtor owns, or receives special treatment in accordance with the United States Bankruptcy Code. The primary classes of creditors are secured creditors, unsecured creditors, and priority creditors. This blog will outline the differences of these three classes of creditors.

What Happens After I File Bankruptcy?

When you begin considering filing for bankruptcy, you likely have many questions about the process itself and what will happen after everything is all said and done. Your financial future may look very different after you file bankruptcy. Many of your long-term goals are still attainable after you go through the bankruptcy process—and it may not take as long as you might think. 

Dischargeability of Equitable Distribution in Chapter 7 and Chapter 13

The chapter of bankruptcy that an individual files is extremely important.  There are several different chapters of bankruptcy and each has a set of rules and laws that govern them.  If the incorrect chapter of bankruptcy is filed, it may not be easy to change between chapters without yielding an objection from a creditor or the trustee.  In addition, there may be additional fees and/or  legal expense to get into the correct chapter. 

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