Can You Discharge an SBA EIDL Loan in Bankruptcy in New Jersey?
When the COVID-19 pandemic disrupted your business, a COVID-19 Economic Injury Disaster Loan, commonly called an EIDL, may have helped you cover payroll, rent, operating expenses, or other immediate needs. At the time, the loan may have felt like the only way to keep your business open. Years later, your circumstances may look very different. […]
Can Bankruptcy Get Rid of Credit Card Debt in New Jersey? What to Know Before You File
Credit card debt can become overwhelming long before you realize how serious the problem has become. One month, you are using a card to cover groceries, gas, medical bills, or a needed car repair. A few months later, the minimum payments are higher, the interest keeps building, and the balance has barely moved, even when […]
Can Bankruptcy Stop Foreclosure in New Jersey?
When you’re behind on your mortgage and the letters from the bank keep arriving, it can feel like you’ve lost control of your home. I’m Joel R. Spivack, a New Jersey bankruptcy and real estate attorney based in Cherry Hill, and for more than 35 years, I’ve helped homeowners throughout Camden County, Burlington County, Gloucester […]
Are New NJ Bankruptcy Rules Going to Affect Your Case? What to Know Before August 2025
If you’re overwhelmed by debt and thinking about filing for bankruptcy in New Jersey, timing matters—especially now. Starting August 1, 2025, the District of New Jersey Bankruptcy Court will roll out new local rules that change how cases are filed, reviewed, and resolved. While these updates may seem procedural, they could significantly impact your paperwork, […]
Wage Garnishment Looming? How Chapter 7 Stops Paycheck Seizures in NJ
Feeling the Pinch of a Smaller Paycheck? Nothing rattles a budget faster than opening your banking app and seeing less than you earned. When a creditor wins a court order to garnish wages, cash meant for rent, groceries, or child care can disappear before it ever reaches your pocket. I’m Joel R. Spivack, founder and […]
Life After Bankruptcy in New Jersey: 10 Steps to Financial Recovery
Filing for bankruptcy can feel like a daunting and overwhelming process. However, it’s important to recognize that bankruptcy is not the end – it’s a fresh start. With careful planning and the right guidance, you can rebuild your financial life and regain control of your future. For New Jersey residents, this guide will walk you […]
Bankruptcy & Taxes in NJ & PA: What You Need to Know
Filing for bankruptcy represents a significant financial decision that directly impacts your tax obligations. Understanding these tax implications is crucial for making informed decisions during this challenging time. Tax Discharge Eligibility in Chapter 7 Bankruptcy Chapter 7 bankruptcy (liquidation bankruptcy) may provide relief from certain tax debts if they meet all of these specific IRS […]
Is Filing for Bankruptcy Right for You? Questions to Ask Before Taking the Leap
For New Jersey residents facing overwhelming debt, the path to financial relief can seem unclear and daunting. Struggles like keeping up with bills, avoiding foreclosure, or managing persistent creditor calls may leave you feeling trapped. Bankruptcy can offer a much-needed reset, but it’s essential to determine if it aligns with your situation. To help you […]
What Happens with My Tax Refund If I File for Personal Bankruptcy?
As a follow-up to last week’s blog on “Bankruptcy & Taxes” we wanted to answer a common question that we receive very often : “What Happens with My Tax Refund If I File for Personal Bankruptcy?” In order to answer this question we first need to explain the differences between the different types of bankruptcy. […]
Bankruptcy & Taxes
Filing for bankruptcy can be a daunting and overwhelming process, especially when it comes to dealing with your taxes. If you are considering filing for bankruptcy or are already in the process, it is important to understand how bankruptcy can impact your taxes. Bankruptcy and Taxes When you file for bankruptcy, your assets and liabilities […]