April 05, 2013 (Press-News.org) When you are undergoing Chapter 7 bankruptcy, you are often burdened with several financial responsibilities. It is important to have an attorney by your side so you do not inadvertently miss any obligations. Nevertheless, stuff happens. If you do happen to make an innocent, good-faith mistake, you may still be protected from court sanctions in certain situations.
The Chapter 7 bankruptcy process mandates that filers list the names, addresses and account numbers of all creditors. This is intended for notice and potential repayment purposes. Because specific debts are discharged within the Chapter 7 process, it is extremely important for the court to have a comprehensive record of payment responsibilities. Under New Jersey law, a reckless omission could prevent debt discharge of money owed to the neglected creditor.
Nevertheless, if you realize that you have not listed one of your creditors in your paperwork, the first and most important step is to contact a lawyer. A lawyer can help you sort through the error.
Judd v. Wolfe
In most New Jersey Chapter 7 cases, there is little effect if a filer fails to list a creditor, as most filings are non-asset cases. In a bankruptcy case, a trustee of the court makes an inquiry into money and property that is available for distribution to creditors from your estate. If there is no property available (not including what is exempted by law), you have a non-asset case. This means that you are unable to allocate any assets to your creditors for repayment purposes.
New Jersey law has evolved out of a bankruptcy case, Judd v. Wolfe. According to Judd, in a no-asset Chapter 7 case, debt to an omitted creditor is deemed discharged, and the debtor is not obligated to notify the creditor. The logic is that because there are no eligible funds available for distribution, amending or reopening the bankruptcy case is essentially worthless. This would not change the fact that the creditor is incapable of receiving anything. After all, the estate is empty.
However, in a no-asset case, an attorney can nevertheless help you send a letter to the omitted creditor and inform them of your filing. Sending a copy of your discharge order will prevent the creditor from attempting to collect on the debt.
In the event that you do have assets, your lawyer can amend or reopen your bankruptcy petition. Because assets are available in an asset case, the omitted creditor may have recovery rights.
What is most important is that you relay your situation to your attorney. Every case is different, and you do not want to compromise your bankruptcy filing. A trusted and experienced bankruptcy law attorney can assist you through the process.
Article provided by Goldman & Beslow, LLC
Visit us at www.nj-bankruptcylaw.com/
You forgot to list a creditor in your Chapter 7 case. Now what?
The Chapter 7 bankruptcy process mandates that filers list the names, addresses and account numbers of all creditors. Under New Jersey law, a reckless omission of creditors could prevent debt discharge of money owed to creditors in certain circumstances.
2013-04-05
ELSE PRESS RELEASES FROM THIS DATE:
April 30 Occupational Safety and Health Administration deadline looms
2013-04-05
Unless your business has fewer than 10 employees, you may be required by the U.S. Department of Labor to comply with an important April 30 reporting deadline. The Occupational Safety and Health Administration (OSHA) -- the federal organization that sets and enforces standards regarding safe working conditions for American employees -- requires that employers complete and post Form 300 by the end of this month.
OSHA laws require strict recordkeeping and reporting regulations that apply to all but certain exempt employers who have 10 or more employees. Some employers within ...
House committee member requests delay in implementation of HOS regulation changes
2013-04-05
For many years, the Federal Motor Carrier Safety Administration has issued hours of service regulations designed to prevent fatigued commercial truck drivers from getting behind the wheel. These rules are not static, however, and in 2010 the FMCSA recently announced changes to the HOS rules, scheduled to go into effect later this year, that require drivers to take more rest and spend less time driving.
While safety advocates applaud the proposed HOS rule changes as a necessary step in increasing highway safety and reducing truck accidents, the changes have been less ...
Do I need a lawyer for my workers' comp claim?
2013-04-05
Workers' compensation is meant to be a no-fault system; if you are injured at work, or if you succumb to an occupational illness, workers' compensation should cover your medical expenses and provide partial wage replacement whether your employer was negligent or not. Yet, the reality is that providing workers' comp benefits is expensive for an employer and their workers' compensation insurer. Your employer and their insurer have financial incentives to deny and undervalue workers' comp claims.
So when do you need help with your workers' compensation claim? Every workplace ...
Real estate market is picking up for medical office buildings
2013-04-05
A number of major real estate companies say office building construction is up across the nation and sales of existing buildings are also on the rise. The good news is that the more desirable tenants -- physicians and other medical care providers -- top the list of those in need of available real estate.
Reasons for the booming business
Real estate analysts hypothesize about the reasons for the increase in construction. New construction stalled during the recession and the pent-up demand is now coming to the forefront as the economy slowly recovers. Many medical buildings ...
In a car accident? Here's what to do next
2013-04-05
If you have ever been involved in a car accident, you know that it can be a disorienting experience, to say the least. Just after the crash, it can be difficult to focus on what needs to be done next. However, in those crucial minutes after the accident, there are certain steps that you are well advised to take to protect yourself and others.
Listed below are things that should be done, if possible, when a car accident occurs. In order to remind yourself of the necessary steps, it can be helpful to print off a checklist and store it in your glove compartment.
Get ...
Florida's proposed alimony reform could have major impact on divorce
2013-04-05
A proposed overhaul of the Florida alimony system has cleared several legislative hurdles recently, with a pair of similar bills making its way through the House and Senate. If passed, the legislation would eliminate "permanent alimony," one of the most controversial aspects of Florida's existing alimony law, as well as make several other major changes which would substantially impact family law litigants.
Alimony, also known as spousal support, is court-ordered financial support paid by one ex-spouse to the other after divorce. The purpose of alimony, as contemplated ...
Texas considers banning texting while driving
2013-04-05
As the pace of everyday life becomes increasingly frenetic, it seems that more people are trying to multitask. The multitude of things vying for people's attention can become dangerous when people are driving. Despite the well-known dangers of distracted driving, the problem continues to grow. In March 2013, a Texas Representative introduced a bill targeting distracted drivers.
Texting and driving in Texas
The proposed bill currently under consideration by the Texas House Transportation Committee would make it illegal for drivers to send text messages while behind ...
Wrong-way accidents: more rare, more fatal
2013-04-05
If you have been driving for a while, you probably have encountered a variety of hazards on the road. It is likely that you regularly come in contact with aggressive drivers, speeders and plain inattentive drivers. However, one type of hazard that you probably never have experienced is a wrong-way driver. Although this type of dangerous driver is rare, according to the National Transportation Safety Board (NTSB), car accidents caused by such drivers occur more often than you would think.
According to NTSB statistics, about 360 motorists each year are killed in wrong-way ...
Trial Lawyers Danny Thomas and Jonathan Soper Honored for $108 Million Wrongful Death Verdict in Cult Case
2013-04-05
Missouri trial lawyers Daniel "Danny" Thomas and Jonathan Soper were recently honored for obtaining a $108 million verdict on behalf of a couple who lost their daughter because of the actions of a religious cult.
The Missouri Lawyers Media award recognized the attorneys for obtaining the largest personal injury verdict in Missouri for 2012. This verdict was also the third-largest wrongful death verdict in the country last year.
The Independence, Missouri-based attorneys work for the law firm Humphrey, Farrington & McClain and have developed a reputation ...
Officeville, Inc. Pledges Financial Support for Bethany Christian Services Adoption Agency
2013-04-05
Officeville, Inc., a Michigan-based online office supply company, was seeking a way to make a difference in peoples' lives beyond the daily transactions typical of selling products. Recognizing that families keep our nation strong, Officeville has pledged to provide ongoing support to Bethany Christian Services, the largest adoption agency in the United States.
"Office products are our commodity, but helping people is our passion," explained Officeville President, Dave Rydzinski. "Each day, we try to go beyond the normal service for our customers, with ...
LAST 30 PRESS RELEASES:
This new understanding of T cell receptors may improve cancer immunotherapies
A new fossil face sheds light on early migrations of ancient human ancestor
A new immunotherapy approach could work for many types of cancer
A new way to diagnose deadly lung infections and save lives
40 percent of MRI signals do not correspond to actual brain activity
How brain-inspired algorithms could drive down AI energy costs
Gum disease may be linked to plaque buildup in arteries, higher risk of major CVD events
Contrails are a major driver of aviation’s climate impact
Structure of dopamine-releasing neurons relates to the type of circuits they form for smell-processing
Reducing social isolation protects the brain in later life
Keeping the heart healthy increases longevity even after cancer
Young adults commonly mix cannabis with nicotine and tobacco
Comprehensive review illuminates tau protein's dual nature in brain health, disease, and emerging psychiatric connections
Book prepares K-12 leaders for the next public health crisis
Storms in the Southern Ocean mitigates global warming
Seals on the move: Research reveals key data for offshore development and international ecology
Sports injuries sustained during your period might be more severe
World's first successful 2 Tbit/s free-space optical communication using small optical terminals mountable on satellites and HAPS
Can intimate relationships affect your heart? New study says ‘yes’
Scalable and healable gradient textiles for multi‑scenario radiative cooling via bicomponent blow spinning
Research shows informed traders never let a good climate crisis go to waste
Intelligent XGBoost framework enhances asphalt pavement skid resistance assessment
Dual-function biomaterials for postoperative osteosarcoma: Tumor suppression and bone regeneration
New framework reveals where transport emissions concentrate in Singapore
NTP-enhanced lattice oxygen activation in Ce-Co catalysts for low-temperature soot combustion
Synergistic interface engineering in Cu-Zn-Ce catalysts for efficient CO2 hydrogenation to methanol
COVID-19 leaves a lasting mark on the human brain
Scientists use ultrasound to soften and treat cancer tumors without damaging healthy tissue
Community swimming program for Black youth boosts skills, sense of belonging, study finds
Specific depressive symptoms in midlife linked to increased dementia risk
[Press-News.org] You forgot to list a creditor in your Chapter 7 case. Now what?The Chapter 7 bankruptcy process mandates that filers list the names, addresses and account numbers of all creditors. Under New Jersey law, a reckless omission of creditors could prevent debt discharge of money owed to creditors in certain circumstances.