May 07, 2013 (Press-News.org) In New Jersey and across the nation, the numbers of bankruptcy filings continue to drop. However, hundreds of thousands of individuals and businesses will file for bankruptcy in 2013.
There are many reasons people find themselves in financial binds. Often, it is through no fault of their own. A job loss, death in the family, major illness, injury or divorce can put a family behind on monthly payments and some are unable to return to solid financial footing after a life-changing event. Too frequently, individuals fail to recognize they are in financial trouble and delay seeking remedies until it is too late.
If circumstances have put you behind the 8-ball, it is best to know your options and to take steps to keep from falling further behind.
Filing for bankruptcy
There are a number of bankruptcy options available to people who are facing insurmountable debts.
Filing for a Chapter 7 bankruptcy may immediately stop harassing creditor calls and wage garnishments. For qualified individuals, this type of bankruptcy filing liquidates most non-secured debts such as credit card bills and medical debt. A Chapter 7 bankruptcy can allow you to wipe the slate clean and start all over again.
A Chapter 13 bankruptcy may be better for those who wish to retain their home and is a good option for those who do not qualify for a Chapter 7 bankruptcy. A Chapter 13 filing allows you to reorganize your debts and restructure your monthly payments so that they are more manageable. A Chapter 13 bankruptcy can allow you to retain your assets and pay your bills, but from a much better financial footing.
There are additional bankruptcy options available and the path you choose to take depends on your individual circumstances.
Alternatives to bankruptcy
Bankruptcy is not for everyone and you may be able to benefit from alternatives to bankruptcy such as:
- Credit counseling and debt education
- Loan modification or principle reduction on your home mortgage
- Renegotiating debts with creditors
- Sell assets, downsize and curb spending habits
Many alternatives are not practical or available to many faced with debt. In those situations, it is best to get legal assistance.
A lawyer can help
If you are struggling with unpaid bills, filing for bankruptcy can put you back on track and help you start anew. The bankruptcy process can be confusing and there are many options available to you that might not be obvious. Consult an experienced bankruptcy lawyer to learn which alternative may be best for you and your circumstances. A knowledgeable attorney can educate you and guide you through the filing process.
Article provided by Scura, Mealey, Wigfield & Heyer, LLP
Visit us at www.scuramealey.com
When thinking of bankruptcy, it is important to know your options
There are many options available to people who have large amounts of debt that they are struggling to pay. Various forms of bankruptcy and alternatives to bankruptcy should be considered before it is too late to act.
2013-05-07
ELSE PRESS RELEASES FROM THIS DATE:
Court clarifies the uses of drug dogs
2013-05-07
The use of drug-detecting dogs is often a common aspect of many drug crimes investigations. Officers use these dogs to help uncover the evidence that they need to obtain convictions against those arrested for being in possession of the illegal substances that the dogs are trained to detect.
However, the use of these dogs has been the subject of two cases that were currently heard by the U.S. Supreme Court. These rulings may have an impact on many people who have been charged with drug crimes.
Both of these cases originated in Florida. In the first case, an officer ...
California postnups: Enforceable agreements made during marriage
2013-05-07
You've likely heard of a prenuptial agreement; many couples choose to execute one of these legal instruments before marriage to lay out financial issues in a logical, thought out manner than can save headache and heartache down the road. But did you know that even after marriage, couples have the option to execute agreements that can share a similar structure to a prenup?
Postnuptial agreements, or "postnups," are allowed for under the California Family Code. Postnups are becoming an increasingly popular way to address some of the same issues typically dealt ...
Court of Appeals invalidates nursing home arbitration agreement
2013-05-07
In the paperwork involved when someone enters a nursing home for care, residents or their legal representatives often sign something called a pre-dispute arbitration agreement. This agreement basically means that the resident and the facility must settle any disputes through arbitration instead of pursuing a lawsuit. In a case recently decided by the North Carolina Court of Appeals, however, the court found a nursing home's arbitration requirement invalid and allowed a lawsuit to continue against the facility for alleged nursing home negligence.
Nursing home arbitration ...
Making a case for military sexual trauma for female veterans
2013-05-07
A lot has changed since the 1950s when only 2 percent of the U.S. armed services were women. Although women make up less than 20 percent of the total number of active and reserve service personnel, the nature of warfare has changed and women are suffering from the same types and severity of injuries as their male counterparts.
According to the Veterans Administration (VA), there are nearly 800,000 veterans in North Carolina and nearly 20 percent of those veterans have service-related disabilities. As more women join various branches of the military, more return home ...
Finding the root of the cause of Denver car accidents
2013-05-07
A sharp uptick in motor vehicle accidents so far in 2013 has some calling for greater public and inter-agency access to data that might help find the root causes of the increase.
There are, arguably, several different reasons why accidents may have increased - higher traffic levels, distracted driving, a spike in pedestrians and bicyclists sharing the roadways and poor speeding enforcement, just to name a few - but a lack of information sharing between engineers, roadway architects, city planners, law enforcement and the public could be exasperating the problem.
Recent ...
Dram Shop Law: Holding Illinois bars liable for drunk driving injuries
2013-05-07
While going through the traumatic experience of an auto accident can be challenging enough, feelings of concern and stress can quickly turn to frustration when a motorist learns he or she was injured in an accident caused by a drunk driver. After all, the accident may have been easily avoided had the drunk driver simply made the correct decision in the first place and never got behind the wheel.
However it is important for Illinois motorists to know that if they are injured by a drunk driver, not only may the drunk driver be responsible for their injuries, but if the ...
Hospital Linens Supplier, Angelica Corporation, Sells Hempstead, NY, Operations
2013-05-07
Medical laundry services provider, Angelica Corporation, recently made the decision to sell its Hempstead, NY, healthcare laundry business and related assets to the FDR Services Corp of New York. The recent transaction was effective as of Saturday, April 27, 2013.
Angelica Corporation is excited to tap into other areas of opportunity within the industry to ensure that it can continue to best serve all of its loyal customers. In addition, the hospital linen services company wants to be able to reach out to potential clients by fulfilling their every need.
David Van ...
Atlanta Countertop Specialists, Premier Surfaces, Launch New Website Serving Chattanooga Area
2013-05-07
Premier Surfaces, a company specializing in granite countertops in Atlanta, inaugurates a new website to service their Chattanooga customers. Their impressive selection of marble, granite, soapstone and other countertop surfaces available in Atlanta are now also accessible in Chattanooga at the same affordable prices. As always, Premier Surfaces' customers can expect the same professional installation as well as prompt and courteous service no matter where they reside.
Now you can enjoy the quality workmanship and beautiful products of this Atlanta granite company[/url] ...
Knoxville Bankruptcy Attorneys, Clark & Washington, Reflect on 314 Bankruptcies in January
2013-05-07
The 2012 holiday season was a difficult time for many families in the Knoxville area, and many found themselves with more debt than they could handle. This and other causes led 314 families and individuals to file for personal bankruptcy in Knoxville in January of this year.
Knoxville bankruptcy law firm, Clark & Washington, understands the difficult decision that these families and individuals faced when they began considering bankruptcy. It can be a struggle to admit that your finances are out of control, and it is often even more difficult to seek the help you ...
Atlanta Moving Company, A.C. White, Discusses Getting Ready for Your Spring Move
2013-05-07
The Atlanta moving company, A.C. White, would like to take a moment to inform residents about the importance of being prepared for springtime moving operations. The Atlanta movers know that spring is one of the busiest seasons when it comes to office relocations and for home sales.
Although winter is by no means as treacherous in this city as it can be in others, the cold weather does put a damper on moving. Thus, once temperatures start to increase, so does of the hustle and bustle of home and business owners looking to relocate. It is always wise to be prepared and ...
LAST 30 PRESS RELEASES:
Brain stimulation can boost math learning in people with weaker neural connections
Inhibiting enzyme could halt cell death in Parkinson’s disease, study finds
Neurotechnology reverses biological disadvantage in maths learning
UNDER EMBARGO: Neurotechnology reverses biological disadvantage in maths learning
Scientists target ‘molecular machine’ in the war against antimicrobial resistance
Extending classical CNOP method for deep-learning atmospheric and oceanic forecasting
Aston University research: Parents should encourage structure and independence around food to support children’s healthy eating
Thunderstorms are a major driver of tree death in tropical forests
Danforth Plant Science Center adds two new faculty members
Robotic eyes mimic human vision for superfast response to extreme lighting
Racial inequities and access to COVID-19 treatment
Residential segregation and lung cancer risk in African American adults
Scientists wipe out aggressive brain cancer tumors by targeting cellular ‘motors’
Capturability distinction analysis of continuous and pulsed guidance laws
CHEST expands Bridging Specialties Initiative to include NTM disease and bronchiectasis on World Bronchiectasis Day
Exposure to air pollution may cause heart damage
SwRI, UTSA selected by NASA to test electrolyzer technology aboard parabolic flight
Prebiotics might be a factor in preventing or treating issues caused by low brain GABA
Youngest in class at higher risk of mental health problems
American Heart Association announces new volunteer leaders for 2025-26
Gut microbiota analysis can help catch gestational diabetes
FAU’s Paulina DeVito awarded prestigious NSF Graduate Research Fellowship
Champions for change – Paid time off initiative just made clinical trials participation easier
Fentanyl detection through packaging
Prof. Eran Meshorer elected to EMBO for pioneering work in epigenetics
New 3D glacier visualizations provide insights into a hotter Earth
Creativity across disciplines
Consequences of low Antarctic sea ice
Hear here: How loudness and acoustic cues help us judge where a speaker is facing
A unique method of rare-earth recycling can strengthen the raw material independence of Europe and America
[Press-News.org] When thinking of bankruptcy, it is important to know your optionsThere are many options available to people who have large amounts of debt that they are struggling to pay. Various forms of bankruptcy and alternatives to bankruptcy should be considered before it is too late to act.