Receiving timely and affordable medical care is important for New Jersey residents; however, obtaining medical care that is affordable is not always the case when a diagnosis, treatment and surgery are required and a patient does not have insurance coverage. Hospital bills can accumulate and add up to a large outstanding debt. For some residents in New Jersey, medical debt can be a huge burden, causing some to consider debt relief options to escape his or her financial challenges.
Wells Fargo has initiated a policy of freezing a debtor's bank account upon the filing of a chapter 7 bankruptcy and thereafter sending notice to the trustee asking for direction on what to do with the held funds. Some courts have found that this is an improper interference with a debtor's exempt assets, but other courts have held that the policy is consistent with Bankruptcy Code requirements.
When a company or a small business in New Jersey is no longer productive, is not producing a constant cash flow or are enduring financial problems, it might be a good idea to think of various strategies to address these issues. If business debt is the problem, filing for business bankruptcy is just one debt relief option to consider. Companies and business may also want to contemplate debt reorganization and other methods in order to keep the business running, allowing it to thrive well into the future.
One of the major concerns that face homeowners that are delinquent on their mortgage is that in addition to losing their homes they may also face a deficiency judgment. A deficiency after a foreclosure is the difference between what is owed on the mortgage and what the bank recovered on the house after a sheriff sale. The problem in the current economy is that many houses are upside down in that more is owed than the home is worth, thus leaving a borrower exposed to a significant liability after the bank takes the house to sheriff sale.
No matter the size of a business or company, financial problems could present themselves. New Jersey readers of this blog might be familiar with the issues surrounding the Revel Casino in Atlantic City. While the business bankruptcy proceedings were initiated awhile back, the casino is still dealing with complications regarding its sale.
The banks are not stepping up and making a high enough percentage of mortgage modifications permanent. Our firm represents many individuals on loan modifications and it is becoming increasingly difficult to successfully obtain favorable and permanent loan modifications. The banks are giving these trial modifications, but then not making the loan modification permanent.
Bicycles are one of the most vulnerable vehicles on the roads and are even more vulnerable than motorcyclists. In 2010, almost 800 bicycle fatalities were reported with an estimated 515,000 bicycle related injuries. Owing to the gravity of the problem, New Jersey law makes a lot of provisions regarding bicycle safety norms.
Initial Supreme Court Opinion Protecting ERISA Retirement Plans
The law has been well settled since 1992, by a Unites States Supreme Court decision, shielding debtors' interests in qualified Employee Retirement Income Security Act (ERISA) plans. Stated clearly, creditors could not touch ERISA retirement plans in bankruptcy. Thus, this Supreme Court opinion was used by bankruptcy attorneys to argue that other related retirement plans were also exempt from the reach of creditors.
Wayne, New Jersey, resident would agree that injury from a sudden accident can have a severe impact on a person's physical as well as emotional well-being. In addition to the physical and emotional trauma, accident victims and their families also deal with financial difficulties that arise from lost income and expenses incurred for medical treatment.
One can suffer injuries of any nature. What if the injuries that one has sustained are due to someone else's negligence? Injuries of such a nature are not uncommon in New Jersey or elsewhere around the U.S. One can always file a complaint against such injuries and demand compensation. Premises liability laws provide a safety net for people injured in someone else's property.