Filing for Chapter 7 Bankruptcy Can Provide Much Needed Relief

Filing bankruptcy may seem overwhelming, but in many situations it is truly the best option for getting your debt under control. Chapter 7 bankruptcy, also called straight bankruptcy or liquidation bankruptcy, allows debtors to discharge most of their debts without being subject to a repayment plan. However, Chapter 7 filers may be required to surrender……
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New Jersey Man Pleads Guilty to Hiding Assets in Bankruptcy

A contractor from Ocean County, New Jersey, admitted earlier this month to concealing assets in his 2008 bankruptcy case. He pleaded guilty to the charge in front of a U.S. District Court judge in Newark. The contractor is currently awaiting sentencing for the crime. Some of the items that were concealed included $174,865 in financial……
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Subprime Credit Offers Up as Recession Wanes

A New Jersey pastor garnered national attention recently when he collected unsolicited credit card offers from his congregants, put them in a vessel, and set them on fire in front of the church.

It’s Chapter 7 for Former Black Eyed Peas Manager

Contrary to popular perception, bankruptcy isn’t only for people who are just scraping by. Even very wealthy people can get to a point where their assets are outweighed by significant debts. Take, for example, the case of former Black Eyed Peas business manager Sean Larkin. As part of his contract with the pop group, he……
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U.S. Foreclosures Down in First Quarter of 2012

New data shows that total U.S. foreclosure filings hit their lowest point since 2007 during the first quarter of 2012. 2007 is generally considered to be the year when the economic crisis began. All told, there were approximately 573,000 foreclosure filings in January, February and March 2012, an 11 percent drop from the same period……
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