More on Bankruptcy
There are 3 scenarios when a chapter 7 bankruptcy can be a great tool: 1. You mean I can still save my home, EVEN if I don’t qualify for a loan modification or a chapter 13 bankruptcy?? It is still possible to save your home from foreclosure even if you don’t qualify for a loan modification[Read More…]
Here is what to expect from your bankruptcy lawyer in New Jersey – it usually starts with a phone call,
then a meeting. If we decide to proceed, once we have all of your documents and other financial information, we start compiling your bankruptcy petition.
Bankruptcy enables a person who is unable to pay their creditors to resolve all outstanding debts. This is achieved by either: dividing assets (if there are any) among creditors, or preparing and submitting a plan that the debtor can afford to repay some or all creditors over time. This process is supervised by a bankruptcy trustee[Read More…]
Don’t Qualify For A Chapter 13 Bankruptcy But Still Want To Save Your home From Foreclosure? There is still hope. It is possible that you tried and failed to get a loan mod, and then also discovered that a chapter 13 bankruptcy was not a good option for you. But, there may still be one[Read More…]
Bankruptcy Will Reshape Your Idea of Success If I posed you the question, “Who do you imagine when you think of people who have filed for bankruptcy?,” do you picture a failed business owner, someone who is overall terrible at money management? Or, would our future president run through your head? It may come as[Read More…]
Real Housewives of New Jersey Bankruptcy Fraud admitted to by Teresa and Giuseppe “Joe” Giudice, the married stars of Bravo’s hit TV show “The Real Housewives of New Jersey.” They both plead guilty in federal court in Newark to several mortgage and bankruptcy fraud charges against them. This can happen to you just like it[Read More…]
Navigating The Foreclosure Process: Where Should I Start? If you’re saying to yourself, “I want to save my home from foreclosure but don’t know where to start,” then you’ve come to the right place. Here is what you should do. 1. Educate First and foremost in navigating the foreclosure process and deciding where to start,[Read More…]
We have the best payment options in the business. We know payment is an important consideration in choosing bankruptcy as an option and in choosing the best bankruptcy lawyer. Big banks and credit card companies have had laws passed that makes it difficult or impossible for many people to file bankruptcy and to get[Read More…]
Lenders Must Determine If Consumers Have the Ability to Repay Payday Loans That Require All or Most of the Debt to be Paid Back at Once “The CFPB’s new rule puts a stop to the payday loans debt traps that have plagued communities across the country,” said CFPB Director Richard Cordray. “Too often, borrowers who[Read More…]
Myth Two: You will lose important assets. One big reason people hesitate to file bankruptcy is the fear of losing important assets. If you’re concerned about your house and cars, it’s time you know the truth. Let’s dispel Myth Two: You Will Lose Important Assets. The truth is: Bankruptcy can help you[Read More…]
Bankruptcy is easy to file when you meet the legal criteria to do so. In fact, more bankruptcies are being filed in America now that at any other time in history.
Medical debt can quickly become a nightmare, especially if you don’t have health insurance. Sometimes filing for bankruptcy can help if your medical debt is so much that you can’t afford to pay it.
Luke, 42, and Bridgette 42, With Very Limited Options, Moved On With A Fresh Start: A Foreclosure Case Study
Luke took a step back and reality set in that his home was finally going to be sold at a sale and he and his family would have to move from their home of 10 years: if he didn’t take any action, he would have to move without time to prepare and he would owe[Read More…]
Is A Short Sale Or Deed In Lieu Of Foreclosure Better For My Credit Than A Sheriff Sale? Many people ask, “Isn’t a short sale or deed in lieu of foreclosure better than a sheriff sale on my credit?” To answer this bluntly, no. Unfortunately, if your home is in foreclosure, your credit was already ruined once[Read More…]
Many people struggle to make their mortgage payments, you are not alone. If you’re saying to yourself “I’m beginning to fall behind on my mortgage payments, what should I do now?” Here are some quick and powerful tips that will help you: To answer the question “I’m beginning to fall behind on my mortgage[Read More…]
Bankruptcy Filing Fees Can Be Paid In Advance. Not everyone is aware that the chapter 7 and chapter 13 filing fee can be paid for in installments. At time of filing the bankruptcy petition, an application is made which is almost always granted which allows the filing fee to be paid in 4 equal installments.[Read More…]
Are You Facing Foreclosure? Bankruptcy Can Help. Loan Modification, Bankruptcy, or Both? Loan Modifications Are Frustrating To Say The Least. Many homeowners contact their mortgage company to try to obtain a loan modification only to become frustrated by the process. Mortgage lenders route your to a call center where you talk to a different[Read More…]
Bankruptcy Can Allow You To Catch Up On Missed Mortgage Payments And Save Your Home From Foreclosure If you’re struggling to make your mortgage payments and have determined that the solutions listed in: I’m Falling Behind On My Mortgage Payments, Are There Ways To Fix The Problem?, don’t work for you, then a bankruptcy may[Read More…]
Famous People Who Filed Bankruptcy. There have been many famous people who filed bankruptcy. Sometimes they do it because they got themselves into financial difficulty, other times they do it simply as a strategic business move. Either way, if they can do it, so can you. Take a look at the list: you may very[Read More…]
You may think your loss or reduction of income is only temporary – and hopefully you are right. But there are better ways to handle bills than to use your 401(k) or IRA. Don’t do it. This is really a lesson in waiting too long for help. So many people over the last several[Read More…]
If You Can’t Save Your Home From Foreclosure: Prepare For A Bright Future Using A Chapter 7 Bankruptcy. You may have entered the foreclosure process with the mindset of wanting to save your home, but you discovered that you can’t save your home from foreclosure. Try this strategy – benefit from the lengthy process of[Read More…]
Great! You did a short sale and now your mortgage lender sent you a 1099C to pay income tax on the amount of the loan that was not paid at the sale. What? Do you have to pay tax after a short sale? Answer: maybe. The IRS treats forgiven or cancelled debts as income. Under[Read More…]
Bankruptcy Trustees in New Jersey. Here is a list of Bankruptcy Trustees in New Jersey for easy reference. Chapter 7 Bankruptcy Trustees work on behalf of creditors in a chapter 7 bankruptcy case. Their job is to make every attempt to pay creditors from any assets a person might have in a chapter 7 bankruptcy.[Read More…]
Chapter 7 Bankruptcy – the total discharge. Call Todd Murphy Today! 862-217-2361. We are here to take your call at convenient days and time: Mon. – Thurs. 9:00am to 8:00pm Fri. 9:00am to 5:00pm Saturdays 9:00 to 3:00pm Is Chapter 7 Bankruptcy Right for You? Are you suffering from unmanageable credit card debt, medical bills,[Read More…]
Avoid Foreclosure and protect other assets If you own a home, condo, automobile, or other valuable property, you may want to file for Chapter 13 bankruptcy to protect your assets. At Todd Murphy Law, we will help you find the right debt solution. Contact an experienced Chapter 13 Bankruptcy Lawyer if: you want to eliminate[Read More…]
Repo Man Aided by Technology Recently there has been a lot of discussion in the press about subprime auto loans and how the lenders are taking advantage of consumers – many of whom have recently had their debts discharged in bankruptcy – with high interest rates, excessive fees, and aggressive collection practices. Some have[Read More…]
Chapter 13 Bankruptcy is essentially a repayment program. If you follow the repayment schedule that you and your attorney set up with the court, your unsecured debt is discharged at the end of the program.
Have You Filed Bankruptcy, And Are You Wondering, “Can I Apply For A Loan Modification After A Bankruptcy?” The answer is yes. You can still apply for a loan modification after a bankruptcy. Sometimes using a bankruptcy and loan modification in combination with one another can achieve the most desirable outcome in helping you save[Read More…]
Yes – in many cases. Bankruptcy is a very smart choice for most individuals who are having trouble with too much debt. It is a government sanctioned program designed to help you while giving you every protection available under the law. One benefit of filing for Chapter 13 bankruptcy is that it can stop foreclosure. Chapter[Read More…]
New Jersey Statute NJSA 2A:17-36. Adjournments of sale of real estate. NJSA 2A:17-36. Adjournments of sale of real estate provides that a sheriff or other officer selling real estate by virtue of an execution may make two adjournments of the sale, and no more, to any time, not exceeding 14 calendar days for each adjournment.[Read More…]