How does the bankruptcy exemption for home equity work in a co-ownership?

Yes, the $60,000 homestead exemption is specific to you. It cannot be doubled for married couples filing joint bankruptcy, it remains at $60,000 in...

Can I claim bankruptcy personally without it affecting my husband or my business?

Your ownership interest in the business will be a factor in bankruptcy. This means that in Chapter 7 bankruptcy any assets owned by the business...

Debt consolidation can only help you with credit card debt. It does nothing to stop wage garnishment. Most debt settlement agencies have you pay...

Bankruptcy

It depends on the terms of the credit. You can be held personally liable if you signed for the loan/credit personally. Some loans require you to...

I am facing foreclosure on my home. Which is better, filing bankruptcy or foreclosure and do I have any other options?

If you are unable to make your mortgage payments and you have a large amount of unsecured debt (credit cards, medical bills, etc.), you sound like...

Can this debt be discharged in a bankruptcy?

Unfortunately, student loan debt cannot be discharged in bankruptcy.

I declared bankruptcy in 2005. This year I suffered a debilitating illness. When can I declare bankruptcy again?

First, your SSD and pension are safe. Next, did your 2005 bankruptcy result in a discharge? If so, and it was a Chapter 7 case, you cannot file...

Debt collection

Absolutely not! If you owe them more than the $10,000 they will probably take legal action no matter what you do, and post dating a check for that...

Can I be sued for an outstanding debt that I thought was a part of a 2005 bankruptcy case?

Unfortunately, the statute of limitations does not protect you in this case. The statute of limitations appears to be 6 years in New Jersey...

My husbands business is in debt for over 100K, If he declares bankruptcy can this effect our house, cars, etc?

An important aspect of the situation is whether your husband pledged any of your personal property as collateral on the business line of credit. If...