Blog | Page 4 of 6 | The Law Offices of Thomas J. Orr

What Happens to My Co-signer When Declaring Bankruptcy?

October 3, 2016 by Tom Orr 81

If you file for bankruptcy and have debt with a co-signer, it could potentially affect them. Each type of bankruptcy will have a different affect on your co-signer and it’s important to consider them when reviewing your options. Below, I’ve...

What Types of Bankruptcies Are Available?

July 26, 2016 by Tom Orr 76

Many of my clients are not sure which type of bankruptcy to choose. This is understandable since the bankruptcy process can be confusing without proper guidance. There are four types of bankruptcy cases provided under the law: Chapter 7 results...

How Much Does it Actually Cost to File for Bankruptcy?

July 25, 2016 by Tom Orr 76

Filing for bankruptcy can cause a large amount of emotional stress, but there is also a financial element of stress that is involved. Many of my clients ask me how much it costs to file for bankruptcy. Keep reading for an estimated breakdown of...

Will I Lose My Life Insurance Policy if I File for Bankruptcy?

June 28, 2016 by Tom Orr 35

Many of my clients ask if they will lose their life insurance policy if they file for a New Jersey Chapter 7 or Chapter 13 bankruptcy. This varies based on the type of life insurance and the exemptions you have. Keep reading to learn how your...

When Is Bankruptcy My Best Choice?

June 28, 2016 by Tom Orr 84

Many of my clients come to me asking if bankruptcy is their best option. There are a few questions that you can ask yourself to decide if a New Jersey Chapter 7 or Chapter 13 bankruptcy is the best course of action for you. Time It Will Take to...

What Does the Bank Do to Your Account if You File for Bankruptcy?

May 26, 2016 by Tom Orr 74

When you file for bankruptcy, you have to fill out numerous forms. In one of those forms, Schedule B, you are required to give the information about all of your personal property, including funds in your bank accounts. Many of my clients ask what...

What Small Business Owners Need to Know About Chapter 7 and Chapter 13

May 23, 2016 by Tom Orr 98

If you are a small business owner willing to file bankruptcy, you can do so either by filing Chapter 7 or Chapter 13 for bankruptcy. Do you know which one is the best option if your business debt becomes unmanageable? Whether to go for Chapter 7...

Why Would a Company Choose to File for Bankruptcy?

April 28, 2016 by Tom Orr 69

Have you ever wondered why a corporation files for bankruptcy? The majority of companies will file under Chapter 11 rather than Chapter 7 because they can still run their business and control the bankruptcy process. Keep reading to learn more...

Will I Lose My Home After Chapter 7 Bankruptcy in New Jersey?

April 27, 2016 by Tom Orr 140

Many of my clients ask if they will lose their home after their Chapter 7 bankruptcy is discharged. The short answer is that it depends if you are current on the mortgage payments or not. You will not lose your home simply because you filed...

Will My Gambling Debt Be Wiped Out When I File for Bankruptcy?

March 29, 2016 by Tom Orr 188

There are thousands of people who are battling a gambling addiction. The numbers have grown thanks to the easy access to online gambling sites as well as casinos. What starts as a form of entertainment can spin out of control very easily. Many of...

What Are My Alternatives to Filing For Bankruptcy?

March 15, 2016 by Tom Orr 75

Filing for Chapter 7 or Chapter 13 bankruptcy is not the only option you have if you are in debt. In some situations, a non-bankruptcy course of action may be your best choice. Keep reading to learn about your alternatives to bankruptcy...

Documents You Need to File for Bankruptcy

February 12, 2016 by Tom Orr 84

Filing for bankruptcy is a complex and stressful undertaking. To make the process easier it is important that you speak to an experienced bankruptcy attorney and compile your financial and legal data. I have created a list of documents you will...