All auto insurance policies in New Jersey require the consumer to choose from one of two options with respect to their right to bring a lawsuit. The two options are: (1) the lawsuit or verbal or tort threshold or (2) the no tort threshold or no lawsuit threshold. Under different policies, the tort options (your right to sue) are referred to as these various names but mean the same thing. Under option (1) you are limiting your ability to sue for certain injuries. Under option (2) you can sue for any injury.
[John J. Scura III, Esq. explains what to do if you are feeling tricked by your insurance company after an accident in New Jersey]
I wrote a blog on the worst tricks insurance companies use in trying to deny people fair money for their claims after an accident. As a follow up, I wanted to explore what to do if insurance companies use one of these tricks on you and how to best protect yourself going forward:
[John J. Scura III., Esq. explains the type of auto insurance coverage you should have in New Jersey]
The least explained but most important insurance in New Jersey is Uninsured and Underinsured Motorist Insurance (UM/UIM) Coverage. Insurance agents do not explain this insurance fully, leaving you potentially in trouble with not enough insurance in cases involving serious injuries.
State law in New Jersey requires that insurance companies offer Uninsured and Underinsured motorist coverage as an option up to at least $250,000 for each person and $500,000.00 covering each accident for bodily injury. Insurance companies also have to offer a $500,000 single limit option for uninsured and underinsured motorist coverage. You can also have these limits increased further by purchasing an umbrella policy.
[John J. Scura III, Esq. explains how Chapter 13 bankruptcy can help you save your house in four minutes]
I wanted to go over some issues with respect to Chapter 13 bankruptcy.
Chapter 13 bankruptcy can help save a house from foreclosure:
Chapter 13 bankruptcy, primarily, is used for someone trying to save a house from foreclosure. It's probably the number one reason we use Chapter 13. I'd say, 70% to 80% of our cases are for that reason. The Chapter 13 is a powerful legal strategy. No matter what stage of foreclosure your house is in ... In New Jersey, you can file the Chapter 13 bankruptcy, file a plan of reorganization, and catch up on any amount you fell behind on the mortgage.
[John J. Scura III, Esq. explains four of the common myths and misperceptions in bankruptcy in three minutes]
I wanted to go over some common myths and misperceptions in bankruptcy. I get a lot of calls from clients, potential clients, about what happens with a bankruptcy.
"What do I lose? What types of debts can I wipe out?"
There are a lot of misunderstandings about bankruptcy and how it works, and what you can do and can't do.
Insurance companies spend billions of dollars each year in marketing to convince the public that they have your best interest at heart. Let’s take a look at some of the slogans: State Farm - Like a good neighbor State Farm is there; Allstate – You’re in good hands with Allstate; Geico -15 minutes could save you 15% or more on car insurance; Progressive – Think easier, think Progressive; Chubb- Peace of mind; Prudential – Let Prudential be your rock or Bring your challenges.
I have represented people against insurance companies for 25 years and can tell you unequivocally that these insurance companies will do anything they can to deny you fair money for your loss whether it be personal injury, property damage or economic loss. In your toughest time of need you will not be in their “good hands” and they will not be your “good neighbor.” Protect yourself and your family after an accident and understand they are not in any way trying to help you.
Ten of the worst tricks insurance companies use in trying to deny people fair money for their claims after an accident are as follows:
Having a good credit score is important for an individual in our economy. The higher your credit score the better rates you are going to obtain on loans, which will save you money over the course of repaying the loan. Thus, a solid credit history can have a significant impact on your quality of life, how much money you pay on loans as well as determine whether you can get loans at all.
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.
Changes in Chapter 13 Bankruptcy Law Treatment of Condominium Association Liens
Over the past year, New Jersey bankruptcy law concerning condominium association liens and their treatment under a Chapter 13 plans of reorganization has dramatically changed.
U.S. District Judge Freda Wolfson recently ruled in favor of a homeowner’s claim for breach of contract after the mortgage company failed to honor a permanent modification after the homeowner completed all of the requirements of the trial modification.