Archive for May 2013

Can I Keep My Car If I File For Bankruptcy In New Jersey?

The short answer is yes. The question is which type of bankruptcy will you need to file. Typically, consumers qualify for and ultimately file a Chapter 7 Bankruptcy. The reason why most people keep their cars when filing for bankruptcy is most people have little to no equity in their cars. Why, you might ask? Well, most people have secured debt owed on their cars, known as car payments. If your car is an older car with no lien then it can usually be protected by exempting it. Exemptions are limited to certain amount for certain types of property. You should discuss your questions with a bankruptcy attorney. In more than 10 years, none of my clients have lost a car they needed and wanted to keep (assuming they can afford to make the payments).

The Stigma Associated With New Jersey Consumers Filing Bankruptcy: Don’t Listen To What “They” Say

Why does society place such a stigma on bankruptcy?
I have been assisting consumers seek a fresh start for ten years. I have handled thousands of cases and never, not once, did I ever have a client come back to me to say that their life became more difficult after filing bankruptcy. In fact, it is just the opposite, clients very often take the time to come back and thank me for assisting them get their fresh start.

My clients go on to rebuilt their credit, buy cars, and homes. No one comes to see me because they wanted to be in financial distress. It is quite heart breaking to see the pain my clients eyes (which are often filled with tears) because their life took an unexpected turn or often a series of turns which resulted in financial ruin.

There is life after bankruptcy.

Increase In New Jersey Medical Bankruptcy Filings

Medical bankruptcy filings are on the rise in New Jersey. I have been helping my clients get a fresh start for 10 years and have filed thousands of cases. However, I have never seen so many bankruptcy cases as I have in the first quarter of this year.

Let’s face it, people are not getting sicker this year than last year. It is clear that fewer people have health insurance and those who are insured are underinsured. Every year the health premiums increase an average of 30%. Employers then chose plans that provide coverage with increased deductible and co-pays.

If you are drowning in medical bills or have had to use credit cards during an illness or to pay for medical bills you should consider filing bankruptcy to get the fresh start you deserve.

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