DID YOU BORROW MONEY FROM RELATIVES OR FRIENDS? If you have borrowed money from friends or family members before you file for bankruptcy, here is one thing you definitely should not do. There are a number of technical rules that control this situation, and I will make this as simple as I can for...
It's not unusual for creditors to require a cosigner when they give credit to someone who doesn't have a great credit history. For example, if young adults are applying for student loans, the lenders will often require the parents to sign as a cosigner on the debt before they agree to issue a su...
Keep in mind that one of the major goals of bankruptcy is to give people a fresh financial start and give them the ability to approach the future with a more positive outlook on their lives. There is an old saying that the past is history, the future is a mystery, and right now is a gift. That's ...
Many of our clients are married, and they often wonder, "Do we both have to file for bankruptcy together, or can just one of us file for bankruptcy and protect the credit rating of the person that is not filing for bankruptcy?" The good news is that married people have several choices: 1) They ...
Getting sued can be pretty scary. But if you learn how to defend yourself, you might be able to fight the case without paying for an attorney, and you might even win. In this blog, I'm going t
When we file a chapter 7 bankruptcy petition for our clients, our usual goal is for the client to obtain a discharge. This means that if the case is successfully completed our client will have all or virtually all of their debts wiped out, and they will keep whatever property they own. That's the...
How would you like to get some cash from your mortgage company? That's right, instead of you paying your mortgage company, you might be able to get your mortgage company to pay you. We have had mortgage companies pay our clients a nice sum of money by using a program that is sometimes referred to...
Unfortunately, your home was just sold at a New Jersey sheriff's sale, and you are still living in the property. Do you have to get out right away or can you stay a little while longer until they force you to leave?
Motor vehicle surcharges aren't any fun. They are imposed by the MVC (Motor Vehicle Commission - many people still call the MVC the DMV. The DMV stands for the Division of Motor Vehicles - but they officially changed their name to the MVC quite a while ago). Surcharges are in addition to court fi...
Have you ever heard the term "judgment proof"? If you owe a lot of money to the bill collectors, but your income is very limited and you really don't own anything of any significant value, you just might be judgment proof. It might be easiest to explain what it means by giving you a simple exam...
Some people think they can only file for bankruptcy one time. Many of my blogs get pretty lengthy, and they are sometimes a little complicated. I could make this blog long and complicated also, but I think it's best to make it short and simple. There are rules that might limit and restrict the ...
When a sheriff's sale is listed in on the records of the county sheriff's office in New Jersey, that sheriff's sale information is a public record. Many lawyers can get access to those public records, which means that the lawyers can find out which homeowners are scheduled for a future sheriff's...
When a foreclosure complaint is filed in New Jersey, the complaint is a public record. Many lawyers can get access to those public records, which means that the lawyers can find out which mortgage companies are foreclosing against which homeowners. Lawyers then use this information to send "attor...
WHAT DOES FORECLOSURE REALLY MEAN? Having practiced law for 47 years, I have learned that the word “foreclosure” means many different things to many different people. So, how would I define “foreclosure”? Let me first say that when I talk about foreclosure, I am talking about my understanding ...
Seymour's 25 Best Reasons to File for Bankruptcy: DISCLAIMER: We set forth below results that many people can obtain through a successful bankruptcy. This does not mean, however, that every client can obtain all of the results listed. Every client's case is individually analyzed on its own merit...
LIST OF WHAT YOU NEED TO GET YOUR CHAPTER 7 CASE FILED CHAPTER 7 LEGAL FEES AND COURT FEES Chapter 7 – (non-business) $1465 legal fees + $335 court filing fees = $1800. A business case is more expensive. Fees normally start at $2750 plus court costs. TAX RETURNS 2018, 2019, and 2020 tax...
CAN BANKRUPTCY BE YOUR BLESSING? Many clients who come to see us for the first time are scared, worried, and fearful. They don't know what their future holds. Will they lose their home? Will their car be repossessed? Will the bill collectors freeze their bank account or take their paychecks? ...
Bankruptcy Is Your Constitutional Right Over the last few years, close to 1.5 million people have been filing each year (except for 2020). As more people learn the real truth about bankruptcy and its benefits, who knows, maybe 2 or 3 million or more people might file for bankruptcy t...
STOP THE BILL COLLECTORS FROM CALLING YOU. LEARN “THE SECRET” “The Magic Words” There is a Federal Law known as the Fair Debt Collection Practices Act. This law gives tremendous protection to people that are in debt. Many people think that they have to put up with phone calls, letters, and oth...
IS BANKRUPTCY SCRIPTURAL? Copyrighted article reprinted with permission from the internet Authors: Matthew B. Tozer and Ben E. Lofstedt What does the Bible say? Many Christians feel guilty about seeking to file for bankruptcy protection. They feel guilty because they ran up large debts on t...
Cram Downs Car/ Mortgage/ Personal Property Cram Downs on Cars: If you are presently making car payments, we may be able to save you a lot of money by filing a Chapter 13 instead of a Chapter 7. For example, if you owe $10,000 on your car and the retail value is only $7,000, you may be able t...
Notice to Clients Concerning Judgments That Have Been Entered Against You Before You Filed for Bankruptcy Once in a while, a client who has filed a successful bankruptcy comes back to us maybe two or three years later, because they were getting ready to buy or sell, or refinanc...
Don't Make These Mistakes Before Filing for Bankruptcy We want to set you up for success so that your bankruptcy case runs smoothly from start to finish. Therefore, we want you to know that there are certain “no-no's” that you must be aware of before you file for bankruptcy. There a...
Good News: In New Jersey, It Usually Takes a Long Time to Foreclose It's important that people in New Jersey be aware that they are not in jeopardy of immediately losing their home just because they fall two or three payments behind on their mortgage. New Jersey forecl...
CHAPTER 7– YOUR CONSTITUTIONAL RIGHT Not surprisingly, many clients that come to us often feel guilty or ashamed that they need to seek bankruptcy relief. You don't have to feel that way. Feel grateful and appreciative instead.Here's the bottom line: in all likelihood the position you are in now...
Seymour Wasserstrum helps people who are facing financial challenges throughout the state of New Jersey. We have five offices conveniently located to serve our clients.
We help people wipe out their bills, save their homes from foreclosure, stop vehicle repossessions, and get a fresh financial start.