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In most cases, you cannot file bankruptcy on student loans in New Jersey because bankruptcy protection does not apply to student loan debt. A special federal exclusion means that those obligations must still be paid even after other debts are discharged in a Chapter 7 proceeding. However, New Jersey residents who face desperate financial circumstances… Read More »

You can file bankruptcy on medical bills in New Jersey, because debt associated with medical expenses can be discharged. Unlike obligations such as taxes and student loans, medical bills are not accorded special treatment in bankruptcy proceedings. Studies have shown that healthcare costs are the most common cause of bankruptcies in the United States, so… Read More »

A mortgage default occurs when a homeowner fails to make a required monthly mortgage payment. The mortgage loan agreement provides various remedies to the lender. The lender can impose late fees and even file a lawsuit to take back the property, to “foreclose” the owner’s interest in the property. Since lenders make their living on interest… Read More »

When you’re living under the weight of crushing debt, time seems to stand still and a future without harassment by creditors seems like a distant fantasy. Fortunately, reality is much more positive. If you file for Chapter 7 bankruptcy, you can discharge your debt and have a clean slate within three to four months. The… Read More »

If you are behind on your mortgage and are worried about foreclosure, you have to consider all your options. Depending on your circumstances, either Chapter 7 or Chapter 13 bankruptcy might allow you to shed crushing debt and still hold onto your home. If you have piles of dischargeable debt preventing you from meeting your… Read More »