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Mercer County Legal Blog

Compare Chapter 7 and Chapter 13 bankruptcy

If you have reason to believe that bankruptcy is the best way to improve your finances and start fresh in the future, you need to turn your attention to a very important question: What type of bankruptcy is right for you?

As an individual, you have two basic options: Chapter 7 and Chapter 13. While there are some similarities between the two, there are also a variety of differences.

Inclement weather is a way of life in New Jersey

As a New Jersey resident, you know that the weather can and does change without notice. For example, the summer months are typically hot and dry. However, there are times when heavy rain moves into the area. The same holds true for strong winds, snow and ice.

As a driver, you must know what it takes to remain safe when navigating the roadways in inclement weather. During the summer months, this means having a clear idea of how to remain safe in heavy rain and strong winds.

Choosing a short sale instead of foreclosure

If you come to find that you are no longer able to make your regularly scheduled mortgage payments, you have a few options.

While selling your home is something to consider, there are many reasons why this may not work. This leads many people to consider a short sale or foreclosure.

Can you get credit after a bankruptcy filing?

There is a lot to consider before filing for bankruptcy. One of the most important things to realize is that this will make it more difficult to secure credit in the future.

Although you are facing an uphill battle after filing for bankruptcy, there are steps you can take to re-establish good credit. It will take some time, but the right approach will put you on the right track.

Shoplifting is a serious offense

It goes without saying that shoplifting is not the most serious criminal offense. However, here is something you need to know: This is much more serious than many people believe.

If you are arrested for this crime, you don't have any time to waste. You need to learn more about your charges, your legal rights and the type of defense strategy you can use to avoid the most serious punishment.

Here is why you want to prevent foreclosure if possible

If you find that you are unable to make your mortgage payments in full or on time, it won't be long before you hear from your lender.

Tip: This is not a time to run and hide. Instead, you need to be open and honest with your lender, as this goes a long way in helping you find an immediate solution to your problem.

Save your home through a loan modification

Are you past due on your mortgage? Are you concerned that foreclosure is coming in the near future?

Although you may have slipped behind on your payments, it doesn't necessarily mean you have to lose your home to the bank. There are many options to consider at this point, with a loan modification at the top of the list.

You need to answer these Chapter 13 bankruptcy questions

On the surface, you may decide that Chapter 13 bankruptcy is the best way to improve your finances and get your life back on track.

While many people find this to be the truth, you don't want to go down this path until you first learn more about the process as a whole. This means answering a variety of questions associated with Chapter 13 bankruptcy. Here are some of the most important:

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