“Filing bankruptcy” means that you will be discharging or eliminating some of your debts. Depending on your situation, you may choose to file for one kind of bankruptcy over the other form. These are Chapter 13 and Chapter 7. You may have gotten sick or lost your job....
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Union New Jersey Family And Bankruptcy Law Blog
What should you know about Chapter 7 bankruptcy?
Many people have a false perception of bankruptcy as a sign of failure or financial inexperience. The reality is that when unplanned hardships like personal injuries, severe illnesses and job loss happen, bankruptcy offers hundreds of thousands of Americans a way to...
What must sellers disclose when selling a home in New Jersey?
The word "disclosure" is a term commonly used in real estate law. It is essentially the act of informing potential buyers about anything wrong or imperfect with the property. In other words, a seller has a responsibility to disclose pertinent information about a...
How divorce impacts children
Going through a divorce is often a challenging experience for adults. Many don’t think about how much this milestone affects the children, though. There are several things that kids might worry about when their parents are going through a divorce. As the adult in the...
Who decides what you pay during Chapter 13 bankruptcy?
Each kind of bankruptcy has different rules and requirements. Chapter 13 bankruptcy is a popular form of personal bankruptcy that people also call a wage earner's plan. Those with higher incomes can still qualify for Chapter 13 bankruptcy, which allows them to protect...
Financial risk tolerance may define your risk of divorce
A study performed on 5,300 German couples between 2004 and 2017 was recently published in The Economic Journal by researchers at the University of California-San Diego. This study looked at how likely these individuals were to take risks, including how often they’d...
Why is an automatic stay issued in bankruptcy?
People who file for bankruptcy might be tired of having debt collectors constantly contacting them. Often, phone calls and mailed demands are used to try to get people to pay. This can make answering the phone or checking the mail a stressful experience. When you file...
Can you protect your car during a New Jersey bankruptcy?
There are many reasons that people feel concerned about filing for bankruptcy. Some people worry about the effect on their credit score. Others worry about whether bankruptcy will affect their job or financing options. Another common concern about bankruptcy is the...
Can the state of New Jersey help you collect your child support?
In a word, yes. Most states have strict enforcement services developed to deter those who might otherwise abandon their support obligations. In many cases, knowing that the state might step in for nonpayment of child support keeps noncustodial parents current....
What should you include in a prenuptial agreement?
In 1998, the state of New Jersey adopted the Uniform Premarital and Pre-Civil Union Agreement Act. The purpose of this law is to provide parameters for prenuptial agreements that dictate what can be, and what cannot be included in a prenuptial agreement. What is a...