• posted: Jan. 15, 2022
• Jim Zimmermann
• repayment plan,  car loan,  disposable income

One of the worst outcomes of falling into heavy debt is the repossession of a financed vehicle that you depend upon for work and other life necessities. Fortunately, if you Read More

• posted: Dec. 30, 2021
• Jim Zimmermann
• bankruptcy fraud,  grounds for dismissal

Bankruptcy is a proven way to eliminate or reduce debts, but it is a complicated procedure that has to be done right. There are a number of potential pitfalls that Read More

• posted: Dec. 21, 2021
• Jim Zimmermann
• homestead exemption,  federal exemptions,  state exemptions,  Chapter 7 bankruptcy

The most common type of bankruptcy — a Chapter 7 — is known as a liquidation, because a court-appointed trustee sells the debtor’s property to pay off creditors. But not Read More

• posted: Nov. 30, 2021
• Jim Zimmermann
• Chapter 13,  Chapter 7,  liquidation,  reorganization,  transferring assets

Bankruptcy is a way for individuals who are struggling with their finances to get a fresh start by discharging — that is, erasing — some or all of their debts. Read More

• posted: Nov. 15, 2021
• Jim Zimmermann
• COVID-19,  seller's market,  buying a home

In New Jersey and across the nation, the COVID-19 pandemic has led to a low inventory of homes on the market as owners hesitate to make significant life changes during Read More

• posted: Oct. 08, 2021
• Jim Zimmermann
• bankruptcy,  CARES Act,  foreclosure eviction moratorium

New Jersey’s governor issued an executive order on March 19, 2020, imposing a statewide moratorium on evicting owners of homes that are amid foreclosure proceedings. The foreclosure eviction moratorium, which Read More

• posted: Oct. 08, 2021
• Jim Zimmermann
• foreclosure,  repayment plan,  chapter 13

Losing your home to foreclosure is a frightening prospect, but there are legal remedies available. Bankruptcy is a tool that allows individuals to discharge or restructure debts and get a Read More

• posted: Jul. 15, 2021
• Jim Zimmermann
• automatic co-debtor stay,  co-signer,  loans,  reaffirming debt

Reaching out to a family member or close friend to co-sign on a loan or credit account can be helpful if you don’t have a strong credit history. But it’s Read More

• posted: May 15, 2021
• Jim Zimmermann
• bankruptcy,  repairing credit

People who are considering filing for bankruptcy may be concerned about its potential impact on their ability to obtain credit. But in reality, bankruptcy gives you a fresh start not Read More

• posted: Mar. 15, 2021
• Jim Zimmermann
• bankruptcy fraud,  concealing assets,  reckless financing

Although bankruptcy offers you a fresh start by discharging most of your debts, this form of relief requires the utmost good faith on your part. It’s critical that you fully Read More

• posted: Feb. 15, 2021
• Jim Zimmermann
• debtors,  Preferential transfer

The purpose of bankruptcy is to enable people who have suffered financial hardships to discharge their debts and get a start fresh. However, the bankruptcy law is also designed to Read More

• posted: Jan. 15, 2021
• Jim Zimmermann
• bankruptcy judge,  civil lawsuit,  non-binding mediation,  trustee

In the course of a bankruptcy, disputes may arise among the debtor, creditors and/or the trustee. If the parties cannot amicably resolve them, one of the parties may initiate an Read More

• posted: Dec. 15, 2020
• Jim Zimmermann
• codebtor,  non-exempt property

You can file for bankruptcy protection without your spouse also being named as a debtor. However, the bankruptcy will not protect your spouse against liability for debts for which you Read More

• posted: Nov. 15, 2020
• Jim Zimmermann
• business bankruptcy,  CARES Act,  Chapter 11 bankruptcy,  reorganization plan,  Subchapter V

A typical Chapter 11 bankruptcy allows a business to continue in operation while its debt is restructured. However, this remedy is often disadvantageous to small businesses due to its strict Read More

• posted: Oct. 15, 2020
• Jim Zimmermann
• debtor,  denial of a bankruptcy discharge

People who are facing insurmountable debts often seek bankruptcy protection. At the end of the process, they expect their debts to be discharged. However, not every bankruptcy case ends in Read More

• posted: Sep. 25, 2020
• Jim Zimmermann
• Chapter 13 payment plan,  credit counseling,  debts,  interest rates

If you are experiencing significant financial distress from overwhelming debt, the prospect of filing for bankruptcy may be appealing. However, a bankruptcy can be time-consuming and expensive and could leave Read More