New Jersey Bankruptcy Legal Questions

There are factors you should consider before making a decision on whether to file a bankruptcy with or without your spouse. Too many factors to explain in this type of setting. Not having filed your taxes for 2016 will be a problem if you file bankruptcy. You will need to get those returns in within a very short time of filing. The award from the auto accident will not prevent you from being eligible to file bankruptcy, provided you are otherwise eligible. If you have any of this money left over, I hope you managed it in a very specific way. If all of this money was spent, I would hope you did not use it to pay family or friends money you borrowed from them, or repay one creditor in preference to all your other debt.... Read More

If you file bankruptcy, you must included every debt. No exceptions! Whether a debt might be ineligible to be eliminated through bankruptcy is controlled by the provisions of 11 USC sec 523. Generally, court judgments for credit card debts are able to be discharged or eliminated by bankruptcy. But this begs the question of whether or not you are even eligible to file Chapter 7 bankruptcy. Most people are not eligible.... Read More

Your trustee didn't mention you could move things around legally to protect property because there is no such thing. Moving things to defraud your creditors is bankruptcy fraud and the penalties are severe, possibly even prison. In Ohio, guns owned for personal use are exempt up to $525 per gun. As long as you aren't in business buying and selling guns most personal weapons fall under the exemption.... Read More

In the bankruptcy petition, you disclose the property that you own (but not property owned by others) and you disclose the expenses for your household including everyone that lives there. So the car and debt loan secured by the car are not disclosed on your petition while the loan payments are disclosed on your petition.... Read More

Your budget should include the debts you pay for reasonable living expenses. If your expenses do not allow you to make the GOOD FAITH TEST, your bankruptcy could be denied. Not having a payment on a car loan is often the difference in being eligible for bankruptcy and getting into trouble. I appreciate that it may be difficult to understand my answer. Which is why you need representation by an experienced attorney and not rely on free advice in an online forum.... Read More

No, your father won't know. There is no reason for anyone to contact your father if you are making your payments on time. You have to include the car in the BK filing, but you need to indicate that you are keeping the car. The car lien holder may (or may not) have you sign a reaffirmation agreement. In any case, stay current with the payments and your father shouldn't find out. Good luck!... Read More