Category Archives: Newsletter

Bankruptcy lawyers serving Morris County NJ provide info on debt relief options, alternatives and rebuilding credit after bankruptcy in our newsletters.

 

What to Do After a Chapter 7 Bankruptcy

Morris County Bankruptcy Attorneys Offer Tips for Maintaining Good Credit You have discharged debts through Chapter 7 bankruptcy and you are ready to enjoy life without as many financial anchors weighing you down. However, the journey is not over. Much like staying in shape, you cannot immediately give up exercise and nutrition once you obtain an ideal figure. To keep it, you need to maintain a healthy lifestyle. Here, our Morris County bankruptcy attorney explains ways you can keep you a positive line of credit after you file for Chapter 7 bankruptcy. Maintaining Good Credit After a Chapter 7 Bankruptcy Bankruptcy offers a fresh start on your finances as long as you proceed carefully in the period following a bankruptcy. If your bankruptcy resulted in a discharge of debt, you will not be eligible for similar discharges in subsequent bankruptcies. You must wait eight years before you can get another…
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A Lesson Against Unethical Behavior During Bankruptcy

Follow New Jersey Bankruptcy Laws Carefully Harold P. Cook III, a former municipal court judge in New Jersey, filed bankruptcy to absolve his $10 million debt. His accusers say that he violated many ethical guidelines, including: Transferring ownership of a vacation home to his wife to keep it from being repossessed Failing to disclose a loan company’s lack of financial resources to investors Engaging in “fraudulent conduct” to avoid obligations to his creditors Making political contributions that violate the judicial code of conduct Failing to show up for depositions or return phone calls about charges Cook owned portions of nearly 50 companies and was involved in many real estate transactions. The lawsuits, along with his failure to disclose these lawsuits to judicial officials, led to his disbarment and wage garnishment. He provided loans for these companies, which later defaulted on the loans. He now owes millions of dollars to several…
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Are Employees Guaranteed Jobs if a Bankrupt Business Reopens?

Morris County Bankruptcy Lawyer Discusses Filing Claims for Unpaid Wages In January, our attorneys discussed the Chapter 11 bankruptcy and the Revel Casino in Atlantic City. Recently, new developments bring Revel back into the spotlight for us, as the casino has been closed and sold to a Toronto-based company. This caused over 3,100 workers to wonder if they will have their jobs back under the new company or not. Unfortunately, it was later announced that the new owner, who may change the name of the casino, is not required to rehire former employees. Why is this the case? There was a sale agreement reached during the settlement. In the agreement, the new casino owner, Brookfield US Holdings LLC, has the liberty to decide if it wants to rehire any of the employees. While this is generally the case in bankruptcies, a benevolent company has the option of protecting its workers…
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