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Scura, Wigfield, Heyer, Stevens & Cammarota Blog

Exempt vs. Non-Exempt Property in an NJ Bankruptcy Case

When you file for bankruptcy in New Jersey, there are myriad different aspects of your life that will be affected. While most should be positive, there may be some things that come along with bankruptcy that you weren’t expecting. As your trusted local NJ bankruptcy attorneys, we at Scura are here to help you determine which assets will be affected during bankruptcy filing and set your mind at ease.

6 Bad Financial Habits That Are Signs You Should Consider Bankruptcy

In many circumstances, you take on debt because something unexpected happens. You or a loved one may lose a job or face long-term health problems. In other situations, however, the need to file bankruptcy may arise because you have developed some poor financial habits that trap you in a cycle of taking on more and more debt.

The Impact of a Judgement of Possession on Your Lease in Bankruptcy

Has falling behind on your NJ lease obligation caused your landlord to initiate eviction proceedings against you? If so, has the New Jersey landlord also obtained a judgment of possession for the premises? This blog will explore your options if you are currently facing this scenario through a bankruptcy proceeding in New Jersey.

How Bankruptcy Can Stop A Wage Garnishment

Generally, individuals file for bankruptcy after their creditors begin collection actions for repayment of outstanding debts. These actions may include written notices and daily phone calls. However, if the creditor is unable to obtain consensual repayment, they may seek additional legal remedies, including a wage garnishment order.  When an individual experiences a wage garnishment, it is likely they are facing a financial hardship and garnishment will exacerbates the situation.

Retaining Your Property after a Foreclosure Sale?

Has your property recently been foreclosed upon at a sheriff sale leaving you scrambling to try to retain it? There is an avenue of the law that may provide you with a potential solution through a preference action in a bankruptcy proceeding. However, as this blog will explore, it is an unsettled area of the law meaning that different parts of the country have ruled in different ways on this issue. Despite the uncertainty, pursuing this legal avenue may be your last best hope.

Overwhelmed by Credit Card Debt? What You Can Do Now

Did you know that 34 million Americans admit to paying their credit card bills late? Credit cards can be extremely useful when trying to establish credit or to use in case of an emergency. However, when they are used improperly, credit cards can plunge you further into debt than you had ever imagined. And as your debt builds up over time, it can become increasingly difficult to get your finances back on track.

Types of New Jersey Bankruptcy Exemptions

New Jersey is one of the wealthiest states in the U.S. However, all of that income comes at a price—New Jersey also has high property taxes and even higher rent prices. It is in the top five most expensive locations to purchase a home in the United States. The U.S. average credit card debt is $6,304.26, but it is $8,406.60 for those in New Jersey.

Selling Property in a Bankruptcy Case

Do you own real property that has equity in it, but are in default on your mortgage obligations? If so, then bankruptcy could be an option for you to be able to sell the property to protect the equity in the property.

How Are Medical Bills Treated in Chapter 13 Bankruptcy?

Medical bills are one of the biggest financial burdens that Americans worry about each year. Different from your monthly credit card bills or mortgage payments, medical bills can often be so large threat they become a scary afterthought that most people simply don’t want to deal with. For this reason, medical bills are also one of the most common reasons that Americans seek debt relief through Chapter 13 bankruptcy.

Can I File Bankruptcy if I Own a Business? [Video]

[David Stevens, Esq. answers your questions about owning a business and filing for bankruptcy ]

That's a question I'm asked very often, and the answer is of course you can. The issue is not whether you own a business. The question is does the business have such value that it's a concern for us, and even if it did, how do we treat that value in a bankruptcy context?
 

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