The Bankruptcy Code sets specific limits on the amount of debt that a person can reorganize in a Chapter 13 bankruptcy. There are separate limits for both secured debts and unsecured debts. These debt limits are calculated per each debtor where a married couple files a joint chapter 13 bankruptcy case. These “debt limits” [...]
Filing bankruptcy is an important step for many businesses and individuals struggling with debt, law suits, foreclosures, and other issues that “trigger” their need for financial relief. For the majority of businesses and people that file bankruptcy, the debt relief they obtain in bankruptcy vastly outweighs the cost of filing bankruptcy. This is especially true [...]
Bankruptcy is a big deal. It’s a powerful, complex and, for most people, a very confusing concept. Bankruptcy in New Jersey is especially complex in 2021 due to new laws and regulations related to the pandemic. We’ve created this guide to make it easier for you to understand the most important bankruptcy concepts, from a [...]
