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Scura, Wigfield, Heyer, Stevens & Cammarota Blog

Guillermo J. Gonzalez


Recent Posts

Can a Debtor Keep a Credit Card In a Chapter 7 Bankruptcy?

Credit Cards and Chapter 7 Bankruptcy

Personal Credit Cards

A common question that many individuals contemplating bankruptcy ask during our firm’s free consultation is whether they can retain a credit card during bankruptcy.  In almost all cases, once a credit card institution receives notice of the bankruptcy filing, it will almost immediately cancel the debtor’s credit card.

Avoiding Foreclosure with Mortgage Loan Modifications Made Simple

Due to unforeseen life circumstances, many individuals fall behind on mortgage payments, which will eventually lead to foreclosure proceedings. In order to avoid foreclosure, or during the foreclosure process, an individual may seek a loan modification from the lender. A loan modification is a permanent restructuring of the mortgage terms to provide a more affordable payment to the borrower. In general, the primary goal is to help the borrower reduce their monthly mortgage payments to 31% of their gross income.

What are the Top Five Mistakes Individuals Make After a Car Accident?

Being involved in a car accident can be extremely emotional. A car accident occurs quickly and the victim may be overwhelmed with questions from the other drivers, police officers, and medical personal. In fact, I have heard from multiple victims that they did not realize they were injured until after their adrenaline from the accident had ceased. Notwithstanding, if you are involved in a car accident, this blog will outline five common mistakes victims make following the accident.

Can an Individual File for Bankruptcy Twice?

Even after an initial bankruptcy filing and discharge, many individuals find themselves in insurmountable debt due to unfortunate life circumstances, for example - substantial medical bills from an unexpected incident. As a result, our law firm often receives inquiries from individuals seeking to file for bankruptcy a second or even third time. Luckily, an individual can file for bankruptcy as often as they’d like. However, there are certain time limitations on how often you can file and still receive a discharge. This blog will discuss the time limits of filing for bankruptcy and still receiving a discharge.

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.

The Ultimate New Jersey Bankruptcy Pre-Filing Checklist

Prior to filing for bankruptcy, your attorney will request a series of documents in order to ensure that your bankruptcy petition is accurate. The more information that a potential debtor can provide, the better. Strategically, your attorney wants to be prepared to explain any potential issues to the Court and the Trustee appointed to your particular case. Therefore, prior to filing for bankruptcy, collect the following documents and provide them to your attorney for his or her review.  All documentation provided must be up-to-date before the bankruptcy petition is filed.

How Much Time Do You Have to File a Personal Injury Lawsuit?

Following a personal injury accident, issues related to that accident occur quickly. Whether it’s filing claims with insurance companies, taking time off work while recovering, scheduling appointments with various doctors, physical therapy, coping with the financial strains of lost wages, and possibly surgery. At times the entire process can be overwhelming and it can become difficult to track time. Understandably, it’s natural to prioritize immediate concerns versus matters that can be set aside to a later date, including seeking legal representation. However, it’s important to keep in mind that you have a limited amount of time to file a personal injury lawsuit.

Should I make my Start-Up Company a Limited Liability Company or a Corporation?

As a full service law firm, Scura, Wigfield, Heyer, Stevens & Cammarota LLP provides legal services and advice to both established corporate entities and start-up companies. One of the most common questions that individuals looking to launch a start-up company ask is: What type of business entity should I form? Our firm has extensive experience with Limited Liability Companies, C-Corporations, S-Corporations, Partnerships, and Sole Proprietorships. Notwithstanding, the most common types of business entities are LLCs and Corporate Entitles, C-type and S-type. This blog will focus on the legal issues related to the two most common business entities. Lastly, please speak with a tax professional prior to forming a corporate entity to determine which tax classification is best for your business purposes.

Are Income Taxes Dischargeable in Bankruptcy?

One of the most common misconceptions in bankruptcy is that income taxes are never dischargeable. In fact, you can discharge some back federal and state income taxes in Chapter 7 and Chapter 13 bankruptcy matters. Likewise, the penalties and interest attached to those taxes are dischargeable. However, the dischargeability of income taxes is limited to a specific set of circumstances that was recently clarified by the Third Circuit Court of Appeals.

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