Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman In recent years, political and economic circles have engaged in much debate—and handwringing—over rising income inequality and the future of entitlement programs like Social Security, Medicare, and Medicaid. And these two issues are inextricably linked, as programs like Social Security can help lessen income inequality by […]
The Connection Between Bankruptcy and Divorce
Bankruptcy generally takes precedence over divorce. Your bankruptcy filing is specific to your credit report and social security number, in other words your bankruptcy filing does not impact your spouse’s credit. You can file bankruptcy without your spouse’s consent. If you are living in the same household you should know that is likely required that […]
Top 3 Reasons Not To Reaffirm a Mortgage in Bankruptcy
Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. Bankruptcy debtors should not reaffirm a mortgage. Reaffirmation of debt in bankruptcy prevents the debt from being discharged, a process explained in greater detail by Kevin Gipson in Chapter 7 Bankruptcy and the Reaffirmation Agreement. Yet, lawyers continue to debate whether to reaffirm a mortgage, without […]
Bankruptcy and Divorce: What to Expect Before, During and After Filing
Stark & Stark Family Law Seminar Series Wednesday, June 8, 2016 from 5:30 PM to 6:30 PM (EDT) Marlton, NJ Bankruptcy and Divorce: What to Expect Before, During and After Filing June 8, 2016,5:30-6:30pm Refreshments to follow This presentation will discuss what to expect during a divorce that involes bankruptcy at all stages. Our co-host […]
Why Some Retired People Might Consider Filing for Bankruptcy
Chapter 13 bankruptcy can be beneficial if you have a second mortgage, as the lien can be stripped and the debt erased if you meet certain criteria. Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. NEW YORK (TheStreet) — Most retirees would balk at the idea of filing for bankruptcy. But under certain conditions, […]
Life after bankruptcy Overcoming the emotional toll and taking back your life
Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. An unexpected job loss, a medical emergency, a divorce, out-of-control spending or an unscrupulous business partner – there are a great deal of things that can lead to bankruptcy. However, whether your financial crisis was avoidable or not, most people dealing with bankruptcy struggle with feelings […]
The Bible on Debt and The Morality of Bankruptcy
Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman Let’s talk about the morality of being in – and being unable to get out of – debt. There’s no clause in a credit card contract that speaks to morality or ethics. There are bad people who have credit cards and pay them on time. There are […]
How A Conversation About Bankruptcy Changed One Couple’s Life
Submitted by New Jersey Bankruptcy Lawyer, Lee. M. Perlman After a recent client meeting, I realized just how impactful financial conversations can be. It is truly amazing to see positive changes in a family’s life after what seems like a relatively straight forward, simple conversation. I met with this couple almost a year ago and […]
Fannie Mae Lowers Mandatory Waiting Period After Bankruptcy, Short Sale, & Pre-Foreclosure
Submitted by New Jersey Bankruptcy Attorney, Lee M. Perlman. Mandatory Waiting Period Reduced To 2 Years It’s getting easier to get approved for a mortgage. Following in the FHA’s footsteps, Fannie Mae has reduced the mandatory waiting period for a mortgage after bankruptcy, short sale, or pre-foreclosure. Borrowers no longer need to wait 4 years […]
Student loan debtors using Chapter 13 bankruptcy to buy time on payments
Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. By Tim Grant / Pittsburgh Post-Gazette David King grew up on public welfare as a young man in Ambridge. Five years ago, he got married and moved his wife into a low-income housing project in Imperial. He was only earning $7.40 an hour at a part-time job. […]