The Cassidy Law Firm Blog

Fortunately, in the 21st century no one goes to debtor’s prison when they are unable to pay their bills. Even a business can file for bankruptcy protection when it becomes clear the business cannot remain afloat without pursuing bankruptcy. If you own a small business and are struggling financially just to keep the business afloat it may be time for you to consider bankruptcy. A business may file chapter 7 just like an individual debtor can.

Over the past several years the number of bankruptcy filings across the United States has reached record levels. If you are considering bankruptcy you undoubtedly have a number of questions about the process and life after bankruptcy. Only an experienced Monmouth County bankruptcy attorney can answer specific questions about your situation; however, some general information may be helpful in the meantime. For example, if you file a Monmouth County chapter 13 bankruptcy you will need to submit a proposed repayment plan to the bankruptcy trustee. Understanding how your repayment plan payment is determined is certainly useful if you are considering bankruptcy.

If you are like the average American you count on every penny you receive in your weekly paycheck. If you realize that a substantial chunk of your paycheck is missing one week, therefore, it can be a substantial blow to your budget. This actually happens to hard working people like you every day in Monmouth County, New Jersey because of an old debt. When a creditor obtains a judgment against you, the creditor may then proceed to use all lawful means available to execute on the judgment, including garnishing your paycheck. One way to stop garnishment is by filing for bankruptcy protection.

People often struggle for months, even years, with financial difficulties before finally considering bankruptcy as an option. Unfortunately, valuable assets can be lost along the way that could have been saved had the debtor considered bankruptcy earlier. One thing that does finally prompt many debtors to consider bankruptcy is the threat of foreclosure on a home. If you have been threatened with foreclosure in Ocean County, or have actually received notice that foreclosure proceedings have been initiated, you may be able to save your home by filing bankruptcy.

Your Home and Mortgage in a Monmouth County Bankruptcy from Derek Cassidy

Learn more about mortgage in a Monmouth County bankruptcy in this presentation.

If you have questions regarding your home and mortgage when you file for a chapter 7 bankruptcy in Monmouth County New Jersey contact The Cassidy Law Firm to speak with an experienced New Jersey Bankruptcy Attorney.  The Cassidy Law firm is located in Monmouth County New Jersey.  We help clients file for bankruptcy in Shrewsbury, Long Branch, Red Bank, Asbury Park, Monmouth County, Ocean County, and all of New Jersey.  Contact us today for a free no obligation consultation.

*We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

Ocean County Prosecutor Joseph D. Coronato recently announced that three men have been charged in connection with the February 6, 2013 drug induced death of 23 year old Jamie Caravella of Toms River. Two of the men, Rufus A. Young, 41, of Freehold and Pedro A. Valentin Jr, 23, of Perth Amboy, New Jersey have been arrested. Warrants have been issued for the third suspect, Paul E. Robinson, 24, of Toms River, New Jersey. All three suspects face serious charges relating to the death of the young woman.

Chapter 12 bankruptcy is a specialized, limited form of business bankruptcy meant for farms and fisheries. It is available for all sizes of farms and fisheries, including small family operations. However, the business filing a petition must be a commercial operation — hobbyist fishermen, for example, who sell a few fish to neighbors for extra money would not qualify.

If the fear of losing your home is a source of hesitation for you, it may help to have a better understanding of how your house and mortgage are handled in a Monmouth county bankruptcy.

People often consider bankruptcy an option of last resort – something they only consider after months, even years, of battling financial hardship. It is unfortunate that debtors wait so long to consider bankruptcy because valuable assets are frequently lost unnecessarily as a result of waiting. One reason that people give for not considering bankruptcy sooner is concern for the fate of their home if they pursue bankruptcy.

Deciding to file for bankruptcy in Monmouth County is never an easy decision. Understanding the process a little better can help though once you have made the decision. The bankruptcy process has multiple steps and can be quite complex. Which chapter you use will determine exactly how your bankruptcy proceeds; however, there are some common steps in all bankruptcies. One of those common steps is the 341 hearing, also known as the meeting of the creditors.

Even the most law abiding citizen should have a basic understanding of illegal search and seizure law in Monmouth County as it applies to your home.

Topics covered in this report include:

• The Fourth Amendment to the United States Constitution
• The New Jersey Constitution, Article I, Section 7
• Obtaining a Warrant to Search Your Home
• Limitations with a Warrant
• When Can the Police Search Without a Warrant?
• Illegally Obtained Evidence  – The Exclusionary Rule

Click here to read the whole article or download the PDF.

Turning to bankruptcy to resolve financial problems is often a difficult decision to make; however, it is frequently the best decision for a debtor who is struggling with no apparent end in sight. If you have made the decision to file for bankruptcy protection the next decision you need to make is which chapter is best for you and your situation. Typically, an individual debtor files either a chapter 13 or a chapter 7 bankruptcy. In some cases though, a debtor actually files both back to back. When this is done the debtor is said to have filed a “chapter 20”.