You should not be embarrassed about having to file bankruptcy! Instead you should be proud that you found a solution to your overwhelming financial problems.
Over the many years that I have been a NJ bankruptcy attorney, many people have told me that even though they are drowning in debt they are embarrassed that they can’t pay their bills. They say they feel embarrassed that they must file bankruptcy to get rid of their overwhelming debt.
Filing for bankruptcy stops most civil lawsuits against you because of an automatic stay which goes into effect immediately when your bankruptcy is filed. This stay prevents your creditors from continuing their collection actions, including lawsuits against you.
How Does Bankruptcy Stop A Lawsuit? The Automatic Stay
Many people ask us if filing a NJ bankruptcy can stop a civil lawsuit which has been filed against them. In most cases, the answer is YES!
Do you have overwhelming debt that you cannot pay and are thinking about filing bankruptcy to get a fresh start?
A common question people ask us when they are thinking about filing bankruptcy is, “will I have to go to Court if I file bankruptcy?”
In almost all cases, the answer is No.
Have you recently received a Notice of Intention to Foreclose? If yes, this is likely a very stressful time for you. It is nevertheless important that you understand what is happening and do what is necessary.
The first thing to know is that you should take any notifications that your get from your lender seriously. A Notice of Intention to Foreclose is your lender telling you that they are planning to foreclose on your property because you are behind on your mortgage payments.
The foreclosure process in NJ can be very confusing and scary. In the more than 30 years that we have helped people save their homes, as foreclosure attorneys in NJ, we have been asked many questions about the NJ foreclosure process. This blog will address 10 of the most often asked questions.
#1. Do I Have to Move Out Once I Am Sued in Foreclosure?
Filing for bankruptcy means you are unable to pay your existing debts. If you successfully file for bankruptcy, your existing debts are cancelled, which allows you to rebuild your finances and move forward.
The right of redemption allows you to get back your home after a sheriff sale.
NJ Sheriff’s Sales Have Resumed
NJ Sheriff Sales on residential property were on hold since the beginning of the COVID-19 pandemic. As of September, 2021 Sheriff Sales have resumed in New Jersey. As of the date of this blog, however, they are currently not being held in all counties.
You Can Stop the Sheriff Sale & Save Your Home
Since the beginning of the COVID-19 pandemic, every County Sheriff in New Jersey stopped conducting sales on non vacant residential properties. Beginning in September, 2021 Sheriff Sales on all residential properties have resumed in many New Jersey Counties. It is likely they will begin in all NJ Counties by sometime in November, 2021.
You Can Stop the Sheriff Sale & Save Your Home
Since the beginning of the COVID-19 pandemic, every County Sheriff in New Jersey stopped conducting sales on non vacant residential properties. Beginning in September, 2021 Sheriff Sales on all residential properties have resumed in many New Jersey Counties. It is likely they will begin in all NJ Counties by sometime in November, 2021.
Creditors can be relentless and ruthless when it comes to collecting on debts. They use every tool at their disposal, including letters, phone calls, and social media harassment.
Can Bankruptcy Stop a Wage Garnishment?
Yes, filing a bankruptcy can stop a wage garnishment. Under the U.S. Bankruptcy Code, when a bankruptcy is filed, an automatic stay immediately goes into effect which stops all collection activities including most wage garnishments. Wage garnishments to collect child and spousal support, however, do continue.