Introduction: Your credit reports and credit scores play significant roles in various aspects of your life, including loan applications, employment opportunities, and housing prospects. In this article, we’ll explore the fundamentals of credit reports and scores, their importance, and steps you can take to improve your credit health. Whether you’re aiming to secure a mortgage, […]
Why Can’t I File a Chapter 7 Bankruptcy?
The conversation typically starts with something like “my friend filed chapter 7 bankruptcy and wiped out a ton of debt without paying anything!” Or, “I read online that a chapter 7 is better, so that’s what I want to file.” It’s true that filing a Chapter 7 bankruptcy case is a great way to get […]
Lee Perlman in South Jersey Magazine’s “Ask the Experts”
What are some of the most common myths about the bankruptcy process? Myth One: Filing bankruptcy is a personal failure The Truth: Most bankruptcies are a result of financial distress beyond the individual’s control. With foreclosures, evictions, and financial distress directly related to the pandemic, more people need a financial fresh start. Myth Two: Both […]
What do Bankruptcy and Taxes have in common?
It’s tax season again and that leads us to the inevitable array of questions about what happens to your tax refund if you have, or are thinking about, filing for bankruptcy. Many people rely on their tax refund to cover large expenses. Someone who is in bankruptcy, or is thinking about it, doubtlessly wants to […]
REBUILDING YOUR CREDIT FOLLOWING A BANKRUPTCY DISCHARGE
Many people think that the act of filing bankruptcy will affirmatively prevent them from re-establishing their credit; that their life, in essence, is over, but this could be further from the truth, and, in fact, the opposite is true. A bankruptcy will not prevent you from obtaining new credit following a bankruptcy discharge. In the […]
Waiting Too Long to File Bankruptcy Could Leave You Stuck in the Financial Sweatbox
One year ago, the words “Covid-19” began to trickle into the nightly news. No one could have foreseen that “Covid-19” would quickly become synonymous with “global pandemic” or that it would devastate so many ordinary Americans. Our health, safety and welfare has been turned upside down. The impact cannot be minimized as Covid-19 has touched […]
When Does a Small Business File for Bankruptcy? And 8 More Questions
Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman The coronavirus is expected to permanently shut millions of small businesses in the next several months. Here are issues for owners to consider. All the forecasts point in the same direction: A wave of small-business bankruptcies is coming. More than 40 percent of the nation’s 30 […]
Covid-19, the CARES Act & Bankruptcy – What has changed?
Attorney Bill Colarulo is joined by Bankruptcy Attorney Lee M. Perlman to discuss Covid-19, the CARES Act & Bankruptcy. Specifically, the following areas are addressed: ✅What is bankruptcy and what are the different types available to individuals? (Chapter 7 and Chapter 13) ✅What effect does bankruptcy have on someone’s credit? ✅Foreclosures & the CARES Act […]
What Happens To Your Brain And Body When You’re Stressed About Money
Your financial woes could literally be making you sick. Americans are stressed out. And, in many cases, money is the top cause of that stress. Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. Originally published here by the Huffington Post. In fact, a recent survey by Credit Sesame found that 82% of those who […]
I Worked at Capital One for Five Years. This Is How We Justified Piling Debt on Poor Customers.
The subprime lending giant is a textbook case in creating a corporate culture of denial. Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman The first thing you should know about a woman I know, who I’ll call Annie, is that she volunteers to sit at the hospital with people who are going to die […]