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Chapter 7 vs. Chapter 13

When you are facing major financial difficulties, it is important to be informed of your legal options. Filing for bankruptcy could give you the fresh start you need to move forward with your life. There are advantages and disadvantages to the two primary types of bankruptcy: Chapter 7 and Chapter 13.

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Dispelling Bankruptcy Myths

Dealing with bankruptcy is a stressful and confusing situation. With so many myths and misconceptions about bankruptcy, it can be hard to spot the truth. At Schwartz, Hanna, Olsen, & Taus, P.C., we strive to clear up misconceptions about bankruptcy to our clients in Middlesex County, New Jersey. We help our clients see their options so they can make informed decisions, so reach out to us with any questions you have.

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Preparing for Bankruptcy

When overwhelmed with debts or going through financial distress, filing for bankruptcy is among the promising solutions to remedy your financial condition and achieve debt relief. However, there are many collective popular notions surrounding the bankruptcy process.

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Repairing Your Credit After Filing for Bankruptcy

You have plans for your future, but when financial troubles hold you back, it may feel like you’ll never achieve those plans. It may seem like money problems will prevent you from reaching your dreams.

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How Long Does Bankruptcy Appear on a Credit Report?

Unfortunately, falling into financial trouble is easy, but climbing out of it is much more difficult. Whether medical bills, consumer spending, or another type of expense put you into debt, it can feel like it’s impossible to pay it all back. If you are in significant debt, you might feel like there is no solution and no way to get your finances back on track.

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Understanding the Rights and Limitations of Creditors

When someone fails to pay their debts, creditors and debt collectors can initiate debt collection actions to collect on the debts that person owes them. Unfortunately, it is not uncommon for debtors to deal with creditor harassment, repeated phone calls, threats, and even abusive debt collection practices.

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How Does Remarriage Affect Divorce?

Even in the most amicable of divorces, sorting out the details of agreements regarding alimony, child support, and child custody can be exhausting and contentious. What happens to these agreements if you or your ex-spouse remarries?

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Can I Relocate With My Children After the Divorce?

Sometimes after divorce, the best thing for a parent and children is to move. This may be for a bigger or smaller home, a better job, or to be closer to family who can help with the children.

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What Can I Do If My Ex Isn't Paying Their Child Support?

Child support agreements are usually established during a divorce or legal separation to cater to the day-to-day living expenses of the children living with single parents. Unfortunately, some parents fail to provide financial support to their children or pay court-ordered child support after the marriage dissolution.

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Finding Hidden Income and Assets

Divorces are difficult for a variety of reasons. Research has shown that one of the major contributing factors to divorces are arguments about finances. Most divorcing couples are honest about their assets and income when disclosing financial information to each other upon divorce. However, there are also many individuals who choose to hide income or assets in an attempt to avoid sharing them with their soon-to-be-ex-spouse.

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