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Posts tagged "Chapter 13"

Should I file for chapter 13?

If you're faced with massive debt that you can't seem to get a handle on, bankruptcy may be the best option for you. Most individuals file for chapter 7 or chapter 13, each of which entails different methods of relieving debt and satisfying creditors. Debt.org explains how chapter 13 works so you can determine whether it's the best option for you. 

What bankruptcy mistakes should I avoid?

Filing for bankruptcy is a good option for people faced with exorbitant debt. Whether filing for chapter 7 or chapter 13, you must adhere to the specific laws regarding eligibility and your financial actions. Debt.org explains some of the common mistakes people make when filing, and what you can do to avoid them.

Avoiding foreclosure through bankruptcy

If you find yourself facing foreclosure on your home in Hackettstown, then people may begin to advise you that filing for personal bankruptcy is the easiest way to ensure that you keep it. Several of those that we members of our team here at Jonathan Stone Attorney at Law have worked with in the past have been given similar advice, only to later discover that bankruptcy is not the automatic answer to foreclosure that it has been made out to be. Before you make this decision, it is important that you understand exactly how bankruptcy can affect foreclosure. 

How can I prevent overspending during the holidays?

Do you spend too much money over the holidays? If so, you’re not alone. Many people find themselves overspending on gifts, food, and entertainment this time of year. Fortunately, there are steps you can take to prepare for the next holiday season right now, as explained by U.S. News & World Report.

Can I discharge a student loan through bankruptcy?

Many college graduates in New Jersey find themselves unable to pay back their student loans, which can sometimes be exorbitant. However, unlike other types of debt student loans are not typically able to be discharged in bankruptcy. According to Forbes, this trend could be changing, which might help students get a handle on debt and prevent future financial hardship.

What are some benefits of Chapter 13?

When it comes to filing for bankruptcy, you may have a number of options in front of you. Some people move ahead with a Chapter 11 bankruptcy, while others turn to Chapter 7 or Chapter 13. It is vital to understand the benefits and possible drawbacks of each option and find out which makes the most sense for your personal financial circumstances. In this post, we will take a closer look at some of the reasons why Chapter 13 can be advantageous. As with any form of bankruptcy, it is essential to have a good understanding of the ins and outs of the process before filing a petition.

How can budget my finances?

If you’ve recently filed for bankruptcy in New Jersey, you may be concerned about rebuilding your finances once again. Creating a solid budget is crucial in this case, as it can help you cover recurring expenses while also putting money aside for the future. Because budgeting can be difficult for many people , Bankrate.com offers the following advice.

What can I expect when filing Chapter 13?

If you’re having difficulty paying off outstanding debt in New Jersey, bankruptcy may be an option for you. In this case, chapter 13 may be helpful depending on your unique financial situation. But what can you expect from the process? USCourts.gov offers insight into what chapter 13 entails and what you need to know when filing.

Credit counseling prior to personal bankruptcy

Many of the Hackettstown residents who come to us here at our offices here at Jonathan Stone Attorney at Law are initially only concerned about what form of personal bankruptcy they should file: Chapter 7 or 13? Yet we counsel them that before they start getting too deep into their plans, they should first seek credit counseling. Like them, you might assume that this is something that we recommend to clients. Yet again like them, you might be surprised to learn that this is not a recommendation; rather, it is a requirement under federal law. 

Mythological tales of the bankruptcy filing

There are many people out there who are brave and decide that filing for bankruptcy is the right move for them to clear out their old debts. You may think that it is facetious to call filing for bankruptcy a "brave" act, but given the reputation bankruptcy has, it truly is a huge step to take. There are also many myths surrounding the process of bankruptcy, and we want to dispel a few of them today.

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