It’s hard to lose your home because of financial setbacks. Worse still, however, is losing your home and still ending up with a massive load of debt because the bank sold the property for less than what you owed. A short sale is often touted as an easier, gentler way...
asset forfeiture
When can a lender repossess your vehicle in New Jersey?
The specific terms of a vehicle loan are unique. Your income and credit score, the amount you have for a down payment and the price of the vehicle will all influence the terms for financing a motor vehicle. The one term that is consistent is that the vehicle itself is...
Is it possible to keep your vehicle after filing bankruptcy?
One common bankruptcy myth is that, to satisfy your creditors, you will forfeit most of your property during proceedings. Yet, both federal and state bankruptcy exemptions aim to prevent this outcome. These exemptions allow you to keep certain possessions of yours, so...
How to recover from getting your car repossessed
People do not need to file bankruptcy in New Jersey to lose assets in return for debt reduction or elimination. Creditors may sometimes turn to asset forfeiture to repossess assets. One of the most common assets that get seized in this way on behalf of creditors is...
Can I be arrested for not paying a debt?
It is a phone call that has struck fear into the hearts of unsuspecting people in New Jersey and across the country. The person on the other end of the line informs you that a warrant for your arrest will be issued if you do not immediately make a payment on an...
Your next steps after your car has been repossessed
After you have received notice that your vehicle is being repossessed you are left with the unpleasant reality that you are now without transportation. You may be feeling at a loss and wondering if there is any possible way to reverse the situation you are now in. At...
Preventing repossession of your car
If you are a New Jersey resident who has received warnings about possible repossession of your car due to nonpayment, you may be wondering what options are available to you to help you keep your vehicle. At Goldman & Beslow, we have seen many cases involving...
What are some myths about asset loss in bankruptcy?
When you decide to file bankruptcy in New Jersey, you may not completely understand how the process works. The most confusion often comes from what will happen with your assets. Many people mistakenly believe they will lose everything. However, bankruptcy is not meant...
Can credit counseling save my assets?
When it seems you just cannot stay on top of your bills, you might fear the next step is the repossession of your assets. Some may turn to New Jersey credit counseling as the answer to their mounting debt. Credit counseling can be helpful, and while it does not...
Addressing your debts proactively may prevent further problems
Buying new assets can be exciting and you may feel confident about your ability to pay down the debts and eventually be the sole owner of your new car or home. However, if you run into issues with financial stability and are unable to make your payments on time, the...