If asked to list life’s most stressful challenges, divorce and bankruptcy would each be at the top of most people’s lists, so the thought of going through both at the same time is truly overwhelming. Still, despite the emotional and financial strain, handling bankruptcy and divorce simultaneously is sometimes necessary, and can be done — but it requires careful timing, a well-planned strategy, and strong organizational skills. More than anything, getting through the process and successfully protecting the best possible outcome requires the help of an experienced attorney. The first thing you need to understand is that you can’t really …Read More ➡

Filing for bankruptcy is an all-consuming, stressful experience. There are plenty of things that people going through the process worry about — some well-founded and others needlessly. It’s common for bankruptcy filers to worry about how going through the process could affect their job, with many people fearing that their employer will find out and fire them. In most cases, these fears aren’t justified because federal law prevents employers from discriminating against their employees simply because they filed for bankruptcy. Under U.S. bankruptcy law, your boss can’t fire you solely because you filed for bankruptcy. This is true whether you …Read More ➡

People tend to view filing for bankruptcy as a reflection of poor financial decisions, but the truth is that medical debt is one of the top causes of relentless debt in the United States. No one is immune to illness or accident, and even families who think they have good health insurance can find themselves buried under bills after an unexpected surgery or emergency room visit. Rising deductibles, treatments that aren’t covered, and surprise charges often combine to create bills that are impossible to pay and trigger a cycle of late payments, damaged credit, and eventually lead to filing for …Read More ➡

People facing debt and considering filing for bankruptcy know that doing so will provide significant relief and a clean slate, but they hesitate out of concerns about their 401(k) and IRA accounts. The good news is that both Pennsylvania and New Jersey offer strong protections for retirement savings, ensuring that your financial fresh start doesn’t come at the expense of your future security. Under federal bankruptcy law, employer-sponsored retirement plans like 401(k)s, 403(b)s, and other pension plans that qualify under ERISA receive unlimited protection. They are completely exempt from creditors, regardless of what you owe, whether you file under Chapter …Read More ➡

During the COVID-19 pandemic, there was a significant downward trend in bankruptcy filings, but the numbers are on the rise in 2025.  There are many factors behind the shift, including higher interest rates, creeping inflation, and increased debt among consumers. If you’ve found yourself negatively affected by these or any other economic issues, filing for bankruptcy may be a necessary financial decision. Before you do so, it’s important to investigate the implications of bankruptcy on your spouse. If you’re married and live in Pennsylvania, the answer depends on several things, including the type of bankruptcy you file, how your debts …Read More ➡

One of the biggest concerns voiced by people considering bankruptcy is the fear that they’ll lose their most important assets. Most New Jersey residents filing for bankruptcy protection can hold onto their car and home: It just takes some strategic planning and a solid understanding of the exemptions that are available. Every state has its own rules about bankruptcy. In New Jersey, debtors can choose between the exemptions that the state offers and the ones offered by the federal government. The New Jersey homestead exemption protects up to $23,675 of equity in your primary residence, while the federal exemption offers …Read More ➡

There are some life events that represent major changes.  Getting married, having a baby, and relocating are great examples of milestones marked with great excitement, as well as significant changes in expenses and financial responsibilities. If you’ve found yourself approaching any of these changes while you’re struggling with debt, you may be tempted by the idea of cleaning your economic slate by filing for bankruptcy. Before you jump into this decision, let’s take the time to investigate whether it is actually a smart move. There’s no doubt that bankruptcy can offer relief from overwhelming debt. It puts an end to …Read More ➡

When your debt is growing and you’re living paycheck to paycheck, it can be overwhelming. Many people who’d like to file for bankruptcy protection hesitate out of fear that the legal process will cost money that they just don’t have, but there are several bankruptcy options and financial relief programs specifically designed to help low-income individuals. One of the most common bankruptcy options for low-income individuals is filing a Chapter 7 bankruptcy, also known as “liquidation bankruptcy.” A Chapter 7 bankruptcy filing lets qualified individuals eliminate most of their unsecured debts, including credit cards, medical bills, and personal loans. The …Read More ➡

If you’re overwhelmed by debt, filing for Chapter 7 bankruptcy holds the promise of a fresh financial start: Though you may need to liquidate some non-exempt assets to pay creditors, the action also allows you to discharge most of your debt. However, not everyone qualifies for Chapter 7 relief. The Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) of 2005 introduced a means test designed to determine whether debtors are eligible to file under Chapter 7 or if they instead must file under Chapter 13 bankruptcy, which mandates agreeing to a repayment plan rather than a discharge. The means test’s …Read More ➡

Choosing to file for bankruptcy is the first step in restoring your financial health, but it’s far from the only decision you’ll need to make.  Homeowners who want to sell their home need to analyze the right way and time to do so. This important decision will impact your legal options, your ability to protect your assets, and the course of your financial recovery. Below, we’ll provide guidance to help you through this complex situation. The first thing you need to know is what type of bankruptcy you’re going to pursue. The two options are Chapter 7 and Chapter 13. …Read More ➡