Chapter 7 Bankruptcy Case Highlights Conflict of Public Policy in Bankruptcy Code

Former CEO Who Filed Chapter 7 Personal Bankruptcy Denied Discharge of Debt Owed to Employees by Insolvent Corporation The Bankruptcy Code provisions relating to a Chapter 7 Bankruptcy case seek to achieve two objectives which frequently conflict with one another.  The “fresh start” provisions of Chapter 7 seek to avoid the creation of a permanent […]

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Chapter 7 Bankruptcy: Failure to Discharge Judgment Liens Can Be Costly Error

A case decided by the Bankruptcy Appellate Panel of the Sixth Circuit, In re: McCoy, No. 15-8056 (6th Cir. 2016), illustrates why New Jersey attorneys representing debtors filing a Chapter 7 or Chapter 13 Bankruptcy Petition diligently do their “homework” before filing. If a bankruptcy debtor owns New Jersey real property, one example of necessary […]

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Small Business Debt – How the American Dream Can Become a Nightmare for Small Business Owners

Owning and operating a small business is, for many, the American Dream.  Unfortunately, the dream has become a nightmare of inescapable debt for many those who have retained us to represent them because they did not understand the “spill-over” consequences of small business debt. The situation has been made worse for many small business debtors […]

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New Jersey Foreclosure Dismissed Based on Statute of Limitations: The “Free House” Debate Continues

A Bergen County New Jersey Chancery Court has dismissed a mortgage foreclosure action ruling that the action was filed outside the Statute of Limitations.    See Anim Investment Co. v. Shaloub, F-30508-18 (Ch. Div. June 30, 2016).  Bergen County Superior Court Judge Edward A. Jerejian held that since the Plaintiff had accelerated the maturity date under […]

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The Strategic Use of Bankruptcy by Debtors – Gawker Media Files Chapter 11 Bankruptcy and Buys Time

The United States Bankruptcy Code is a powerful tool which, when used expertly, can provide the most precious remedy debtors who cannot pay their current obligations can possess – time.  The remedy of time is not limited to sophisticated large corporate entities like Gawker Media which understand the value of time and use it to […]

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Attorney Cannot Discharge Malpractice Judgment in Bankruptcy By Claiming He Was Clueless

The provisions of the United States Bankruptcy Code are intended to provide fair and orderly relief for the “honest but unfortunate debtor” who can obtain a “fresh start” by distributing available assets, if any, to creditors and discharging debts “unhampered by the pressure and discouragement of preexisting debt.”  Grogan  v.  Garner, 498 U.S. 279, 286–87 […]

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There Are No Debtors’ Prisons in America But Disobeying a Court’s Order Can Get You Locked Up!

A recent story about a Fox26 News – Student Loan Nightmare in the New York Times about a man who owed a $1,500.00 student loan debt provides an example of why debtors may wrongly believe that failure to pay a private debt may result in their arrest and incarceration. “In a country where 40 million […]

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Mortgage Foreclosure – Homeowner Who Still Owned Home Locked Out of Property By Mortgage Lender

Property owners who contact us because they are threatened by foreclosure often ask about the cost of our services. This is a perfectly reasonable question. The question that is almost never asked is what is the cost of not retaining attorney. Below is one of many examples  of how being represented by an attorney can […]

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Gillman & Gillman to Present Seminar: BOOT CAMP: Foreclosure and Loan Workout Procedures

Justin M. Gillman, Esq., of Gillman & Gillman, LLC, will be presenting a seminar entitled “BOOT CAMP: Foreclosure and Loan Workout Procedures” for the National Business Institute (NBI) on Tuesday, December 8, 2015, in Princeton, New Jersey.   The Seminar is intended for Attorneys, Real Estate Professionals, Title Insurance Professionals, Lenders and paralegals.   A link to […]

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Bankruptcy News: Phone Scammers Targeting Bankruptcy Filers

Phone scamming from public information is becoming more and more prevalent with the access to information through online resources.   We have seen firsthand the impact of phone scams involving the IRS and other debt collection matters. Now, a recent scam is targeting bankruptcy filers.  As is reported in this article published by the US Courts, […]

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