New Jersey Chapter 13 Bankruptcy Rules, Laws and Alternatives
To help you to learn more about bankruptcy, the New Jersey bankruptcy attorneys at Scura, Mealey, Wigfield & Heyer, LLP, created the following articles that explain chapter 13 bankruptcy, as well the rules, process and options regarding bankruptcy. Note: This information is not meant to provide legal advice.
For a free consultation with a New Jersey bankruptcy attorney, contact Scura Mealey Wigfield & Heyer or call 866-930-2075 today.
General Chapter 13 Bankruptcy Information
- Chapter 13 Bankruptcy FAQs - Most people are not familiar with bankruptcy laws unless they have gone to law school. If you are considering for chapter 13 bankruptcy, learn the basics of this bankruptcy code.
- Best Time To File Bankruptcy - There are many issues to consider on the exact timing of the filing of your bankruptcy case.
- What filing for chapter 13 bankruptcy can and cannot do for you -
- Fair Debt Collection Practices Act Prevents Debt Collection Agencies from Taking Certain Actions -
- Waiting Time Between Multiple Bankruptcy Filings - If you have ever filed a bankruptcy before, the prior bankruptcy filing may the ability to file a new bankruptcy, under what chapter the client can file under, and whether the client is eligible for a discharge.
- Tax Returns Must Be Filed by Chapter 7 and Chapter 13 Bankruptcy Debtors.-The new bankruptcy laws require that all debtors file their tax returns up to the date of the filing of the bankruptcy and produce them to the Chapter 7 or Chapter 13 trustee.
- How to Improve Credit After Bankruptcy
Chapter 13 Bankruptcy & Keeping Your Home
- Options to Deal with the Increase in Foreclosure Filings - There are various options if you are in foreclosure, including a chapter 11, chapter 13 or chapter 7 bankruptcy which you may be eligible to reorganize or wipe out certain types of debt and save your home.
- Automatic Stay in Bankruptcy - One of the most basic benefits of a bankruptcy is that when you file for bankruptcy, something called the automatic stay immediately stops any lawsuit filed against you and most actions against your property by a creditor, collection agency, or government entity.
- Obtaining Protection from a Foreclosure or Sheriff Sale with the Automatic Stay - A bankruptcy is a powerful tool to stop a mortgage foreclosure. With a chapter 13 or 11 bankruptcy, a person can restructure the amount behind on the loan and pay off the arrears over time.
- Important Reasons for Filing a Chapter 13 Bankruptcy Before a Sheriff Sale - Learn why if a debtor or consumer waits until after the sheriff sale, they will in all likelihood lose their property.
- Short Sales and Deeds in Lieu of Foreclosure - A short sale or deed in lieu of foreclosure may allow you to sell your home or give back the deed to the bank or mortgage company in order to avoid a deficiency judgment.
- Chapter 13 Bankruptcy Strip Off or Cram Down Strategy In Decreasing Home Value Market
Chapter 13 Bankruptcy & Other Property
- Restructuring Loans with Secured Creditors - Unlike a chapter 7, in chapter 13 bankruptcy proceedings, you can take the amount you have fallen behind, such as on a house or car, and pay that arrearage amount over the life of a 60 month or five year plan
- Creditors must return repossessed property, such as a car, even after the repo has occurred upon the filing of the bankruptcy.
- Cramming Down or Strip Off a Second Mortgage, Third Mortgage or More on real estate that is worth less than the amount of the first mortgage in a Chapter 13 bankruptcy and wipe it out.
Tax Debt & Bankruptcy
- Wiping Out or Discharging IRS Tax Debts in Bankruptcy - Contrary to popular belief, you can wipe out certain types of IRS debt obligations.
- Calculating the Three (3) Year Time Period for Discharging Taxes in Bankruptcy - You have to wait 3 years after the tax return was due before you can file bankruptcy in order to be eligible to wipe out the tax debt.
Regional Bankruptcy Information
- The Essex County bankruptcy filings and foreclosures are on the increase.
- The Hudson County bankruptcy filings and foreclosures are on the increase.
The New Jersey bankruptcy law firm of Scura, Mealey, Wigfield & Heyer, LLP, with offices in Wayne and Hoboken has been serving the legal needs of residents and businesses throughout the Hoboken metro region and eastern New Jersey since 1972. Contact us to schedule a free initial consultation about your Chapter 13 bankruptcy today.
