Quick Answer: Each year, homeowners in Pennsylvania, Maryland, and New Jersey receive their property tax assessments and, each year, many property owners disagree with an increase in their taxes. Fortunately, the tax assessor’s word is not necessarily final and there are methods of appealing if you believe your property tax assessment was inaccurate for some…
Quick Answer: Bankruptcy Discharge vs. Dismissal If you haven’t filed for bankruptcy in the past, you are free to file for Chapter 3 or Chapter 7 relief at anytime. However, you must satisfy certain requirements to obtain a discharge to be officially released from your debts. If the bankruptcy court discharges your case, it means…
Quick Answer: Bankruptcy Documents Should I keep my paperwork? I advise my clients to make copies of the petition, schedules, discharge, and related documents and keep them with their permanent records. It is rare, but creditors are known to try to collect debts after they have been discharged. Keeping your paperwork in order will allow…
Quick Answer: Many people are under the assumption that bankruptcy can’t eliminate taxes. But, that is a common misconception. Under Chapter 7, Chapter 13, and Chapter 11, you can discharge federal and state income tax debts. In order to do so, your case must meet the 3-2-240 rule requirements. The 3-Year Rule The debt must…
Quick Answer: If you are considering the serious financial option of bankruptcy, you may be plagued with outdated stereotypes about what it means to go bankrupt. While there can sometimes be a serious stigma attached, this is foolish: quite a few wildly successful businessmen and even Presidents have gone bankrupt in their time. While it’s…
Quick Answer: According to statistics published by the AARP, employers in New Jersey fail to supply about 1.7 million workers with access to a retirement plan. Acknowledging the importance of retirement savings for individuals and society as a whole, NJ legislators passed the Secure Choice Savings Plan Act. This bill requires private sector employers with…
Quick Answer: In the difficult situation of needing to file for bankruptcy, it may be hard to decide which chapter of filing is best for you, especially if you qualify for both Chapter 7 and Chapter 13. Often, filing for Chapter 7, the liquidation option, can be more practical than Chapter 13, the reorganization option.…
Quick Answer: Maybe you had an unexpected expense or perhaps you lost your job. Whatever the reason, you are now behind on your payments for your mortgage, car, credit cards, or a previous loan. While you might be trying your hardest to catch up, the companies you owe may be too quick to transfer your…
Quick Answer: In a discouraging new survey, New Jersey has remained at the top in the United States for number of foreclosures in the third quarter of 2015, with Florida coming just behind. In data released by RealityTrac, a California-based housing analyst firm, New Jersey has had 1 in 171 houses file for foreclosure this…
Quick Answer: It’s hard to consider the possibility of a serious illness or the struggle of recovering from an injury, let alone contemplate the financial responsibility that comes with such issues. Its bad enough being hurt or in pain, but to top it off with a huge medical bill or a zeroed bank account from…
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