What Disqualifies You from Filing Bankruptcies? - Daniel Straffi

BSPE Legal Marketing Podcast

From Straffi & Straffi Attorneys at Law - In this episode, we explore the topic 'What Disqualifies You from Filing Bankruptcies?' and dive into the key factors that may prevent you from achieving a successful bankruptcy filing in New Jersey. Bankruptcy can offer a fresh start, but understanding disqualifying factors such as fraud, income limits assessed through the means test, and recently dismissed bankruptcy cases is essential. Our discussion outlines the requirements for Chapter 7 and Chapter 13 bankruptcies, helping you better grasp how these chapters differ and what income thresholds and regulations apply specifically in New Jersey.
We also discuss asset exemptions, which play a crucial role in bankruptcy filings. In New Jersey, individuals have the option to choose between state and federal exemptions, including those for homestead, motor vehicles, personal property, and retirement accounts. Knowing which exemptions protect your assets can be a critical factor in the success of your filing. Additionally, we cover non-dischargeable debts like alimony, child support, and certain tax debts, explaining how they impact your bankruptcy case and what steps you may take to manage them effectively.
Beyond bankruptcy filings, the episode examines alternatives available for New Jersey residents, including debt repayment plans, debt settlement, and credit counseling. These options can provide relief without the need to file for bankruptcy, offering a more manageable path to financial stability. We highlight the importance of evaluating these alternatives before making a decision and explain how they can be customized based on your financial situation.
Tune in as we guide you through common mistakes to avoid when filing for bankruptcy, such as failure to disclose assets, non-compliance with court orders, and engaging in preferential transfers. At Straffi & Straffi Attorneys at Law, our team is here to support you in navigating the complexities of the bankruptcy process, ensuring that you have a clear understanding of the legal requirements and potential disqualifications that may arise.
Straffi & Straffi Attorneys at Law
670 Commons Way, Toms River, NJ 08755, United States
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https://www.google.com/maps?cid=18340758732161592314