Tag Archives: DebtHelp

Should I File Bankruptcy If I Lose My Home in a Natural Disaster?

The aftermath of a natural disaster is a chaotic time where people rightfully so are more concerned with survival and safety than protecting their financial interests. However, as people begin to pick up the pieces and assess the damage left behind by the disaster, including the loss of a car, home and/or small business, the financial hit may be too much for them to handle. Therefore, in some instances, filing bankruptcy after a natural disaster may be the best option. How Can Bankruptcy Help Me Rebuild My Life After a Natural Disaster? Bankruptcy has a negative stigma attached to it. People tend to see it as an easy way out or something that hurts you financially. However, nothing could be further from the truth. Bankruptcy is a tool that people and businesses can use to rebuild their lives after the worst has happened, including a medical emergency, death in the…
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How Can I Rebuild My Life After Bankruptcy?

People who are struggling financially are often reluctant to file for bankruptcy, because bankruptcies have a negative stigma. However, that could not be further from the truth. Bankruptcy is a tool that can help individuals, families and businesses regain control of their financial future. Following Chapter 7 or Chapter 13 bankruptcy, there are several ways that people and companies can get their finances back on track. NerdWallet recently featured an article with tips for how to rebuild your credit after bankruptcy. What Can I Do to Rebuild My Finances After a Bankruptcy? You should see signs that your finances are improving right away. Creditors want you to be able to make enough to pay your debts and have at least a little leftover. In addition, lenders know you cannot file bankruptcy, because you will not be able to file for bankruptcy again for another eight years. Therefore, it is a…
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Do I Have to Close My Business If I File Bankruptcy?

Making the decision to file for bankruptcy has huge ramifications for individuals and families. However, when you file bankruptcy as a business owner, not only do you have your personal finances to consider, but also your business interests and your employees’ livelihoods to keep in mind. One big question that the owners of companies filing for bankruptcy often have is, “Am I required to close my business if I file bankruptcy?” Will I Have to Close My Business If I File Bankruptcy? Two Joe’s Crab Shack locations in New Jersey were abruptly closed recently in the wake of the seafood restaurant chain’s Chapter 11 bankruptcy filing. Reportedly, the Joe’s Crab Shack locations’ closures were so sudden that employees at the restaurants only found out that they had closed when they showed up for work that day. The locations that closed in New Jersey are in Brick and Eatontown. The closures…
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Can a Business Keep the Details of Its Bankruptcy Confidential?

Recently, the New Jersey Herald featured an article about Mountain Creek Resort making a request to court to keep their company’s bankruptcy confidential. Per the Herald article, in early July, the resort asked a federal bankruptcy court to approve its request for confidentiality and non-disclosure agreements that would prevent the public and Vernon Township from accessing certain documents related to their bankruptcy. Following the request, Vernon Township’s council and mayor held a closed-door meeting to discuss the matter. Included in Mountain Creek Resort’s bankruptcy is a $26 million debt they owe to the Vernon Township Municipal Utilities Authority. If the bankruptcy court approves Mountain Creek’s request, then public would not have access to any financial statements and other documents that Mountain Creek provided to Vernon Township as part of their Chapter 11 bankruptcy. In addition, under the confidentiality agreement, the resort would, at its discretion, be able to prevent the…
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Can I File for Bankruptcy More Than Once?

Just because you have filed for bankruptcy before does not protect you from financial problems in the future. Whether it is divorce, a medical emergency or you are the victim of fraud, you could find yourself facing the prospect of bankruptcy again. However, is it even possible to file for bankruptcy more than once? Can I File for Bankruptcy Twice? Yes, even if you have filed Chapter 7 or Chapter 13 bankruptcy before and received a discharge, you can file for bankruptcy again in necessary. However, if you file bankruptcy again too soon after your last bankruptcy filing, you will probably not receive a discharge. How Long Do I Have to Wait Before Filing for Bankruptcy Again? If you filed Chapter 7 bankruptcy, to receive a discharge when you file Chapter 7 again, you must wait to file your second Chapter 7 bankruptcy until eight years after your first Chapter…
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