What bankruptcy means for your personal finances Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. The number of people 55 and older filing bankruptcies has skyrocketed since 1991, and that’s even more true for those 65 and older. Bankruptcy can offer a fresh start if you’ve fallen on tough times and are unable to […]
6 Tips for Avoiding the Worst Student Loan Repayment Traps
Submitted by New Jersey Bankruptcy and Student Loan Debt Lawyer, Lee M. Perlman. Whether or not you believe the allegations, the jaw-dropping dossier of sins that the Consumer Financial Protection Bureau accuses the nation’s largest student loan servicer of committing is useful for two crucial reasons. First, it’s a reminder of just how much can […]
A Debt Collector’s Day
Originally published in the New York Times here. Credit Golden Cosmos NOBODY likes debt collectors. But a great many of us have to deal with them. A recent study by the Urban Institute found that roughly one-third of all Americans have a debt in collections reported on their credit file. For many debtors, that […]
Continuations of Proceedings could Violate the Automatic Stay
It is well known throughout the legal community that when a debtor files for bankruptcy everything surrounding the bankruptcy comes to a halt. This includes any other cases or hearings that are brought in state court or otherwise. In a recent case an overzealous creditor learned the consequences of pursuing litigation against a debtor who […]
Post Petition Inheritance May be Property of the Bankruptcy Estate
In a recent Chapter 13 case, a Trustee’s motion to modify a debtors confirmed plan to include a debtors post petition inheritance was granted. The debtor with a monthly income of $2,096, who had unsecured debt amounting to more than $20,000, had notified the bankruptcy court that he would be receiving between $25,000 and $40,000 […]
Why You Should FIle Bankruptcy Now…and Why Delaying Makes You Feel Better
Originally published in the Bankruptcy Law Network here It’s an old saying among bankruptcy attorneys that their clients should have seen them at least a year ago. If they did, they wouldn’t have done all of the things that cost them lots and lots and lots of money: Taking money out of retirement programs to […]
