Category Archives: Bankruptcy

Atlantic Club Casino Files for Chapter 11

Atlantic City is known as a good-time town of glitz, glam, and of course, gambling.  But after over 30 years in operation, the Atlantic Club Casino has filed for bankruptcy. With millions of dollars in both debts and assets, the stakes are high for the struggling casino and hotel — and as profits lag across the entire city’s famed casino industry, others may be next.

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What Does the 2013 Government Shutdown Mean for Your Bankruptcy Case?

On October 1st, 2013, the United States Federal Government entered a period known as “shutdown.” The most recent shutdown occurred during the Clinton administration and lasted for nearly a month. In the 1980s, on the other hand, there were several shutdowns during Ronald Reagan’s presidency that lasted as little as two or three days. Even these small pieces of information can serve as a sort of microcosm for what to expect (or not) during Federal shutdowns: it’s always different, and there’s always a degree of uncertainty. Continue reading

September Legal Newsletter

Overwhelmed by Bills and Afraid You’ll Lose it All?

Bankruptcy may help you lose the debt and still keep your property. Let me repeat that, in most cases bankruptcy helps you to eliminate your debts and still keep your property. How is that possible? The bankruptcy process is not designed to punish debtors. There are exemptions available under either federal or state law that help to protect the value of your real and personal property. In most cases, these exemptions are enough to allow debtors to keep all their real and personal property. How do the exemptions work? The exemptions provide certain dollar amounts to protect certain types of property. For example, Jody owns a 2003 Honda Civic DX in fair condition worth $3,064.00 and is worried she’ll have to give up her car if she files bankruptcy. Jody is in luck,
federal law provides a vehicle exemption up to $3,675.00. Since $3,675 (the vehicle exemption) is greater than the value of the 2003 Honda Civic DX, the debtor’s vehicle is fully exempt and Jody gets to keep her car. Curious about the other exemptions? Check out our bankruptcy FAQs.

Finding the Silver Lining in Your Divorce.

The Huffington Post recently posted a article about finding the silver lining in your divorce. Divorces can be messy, nasty, and often unpleasant matters. We don’t walk down the aisle in a white dress or tux to think the final aisle we will walk down is the one at the courthouse to get a divorce. Marriages don’t always work out and divorce happens. Take time to mourn the loss, but remember
your divorce starts a new chapter in your life. Focus on the future and the making the next chapter of your life the best one yet. Remember that you are in control and team up with an attorney who will help you get what you deserve. Need help navigating through the murky waters of your divorce? Give one of our attorneys a call to set up a consultation, they’re here to get you through to the other side!

Child Support Basics – What Every Parent Should Know!

Maggie meets Mike on a dating website, they instantly connect and eleven months after their first date, they welcome baby Maxwell. Maggie cannot bear to leave Maxwell, but returns to work part-time and sends Maxwell to day care. Shortly after, Mike breaks up with Maggie. Mike moves out and visits the baby every other weekend. Not wanting to deal with lawyers and the Courts, Mike agrees to pay one-half the day care costs, but doesn’t think he should pay child support even though Mike works full-time as a mechanic.

Soon, Mike stops paying for one-half of Maxwell’s day care. Maggie returns to work full-time as a nurse, but it’s hardly enough to keep up with the monthly day care bill of $1,000. She doesn’t know where to turn. Maggie confides in a friend, who urges her to meet with an attorney.

Maggie schedules an appointment with the attorney, who sat with her for over an
hour. Maggie learned that child support is based upon the New Jersey Child
Support Guidelines.

A request must be made to the Court asking for support. Once support is established, the County Probation Department can collect directly from the parent’s paycheck. If payments stop, Probation can enforce child support in Court, take tax refunds and even suspend a driver’s license.

Maggie’s attorney files the request with the Court to establish the child support obligation. A week before the court date, everything gets resolved by exchanging financial information and using the Guidelines without ever stepping foot in the courthouse. Attorneys for Mike and Maggie prepare a written agreement and submit the Court Order to establish the child support obligation and create the Probation account to collect the child support.

By seeking legal advice, both Mike and Maggie know they established a fair amount for Maxwell’s support.

Are you having trouble with child support? Do you need to establish child support? Contact us to schedule an appointment today to discuss your rights and options.

Buying or Selling your Home? We Can Help with that!

Whether you’re buying your first home or Selling a home, we understand how stressful and confusing the process can be. Our attorneys are available to guide you through the process step-by-step from attorney review to the closing table. Did you just sign a contract and not know where to start? Give one of our friendly attorneys a call!

Bankruptcy and Alimony Payments

Filing for bankruptcy is never an easy decision, and can be a very frightening time. But what if you are a collecting alimony and/or child support from an ex-spouse who is filing for bankruptcy? Understanding your rights and your ex-spouse’s continued obligations here is essential. The attorneys at Maselli Warren are experienced both in divorce and bankruptcy law and can help you navigate these complex issues. Continue reading

July Newsletter: Shopping for Legal Services, Credit Cares, and Estate Woes

The Pitfalls of Bargain Shopping for Legal Services

Consumers comparison shop before making purchases all the time. Buying from the lowest cost retailer works great for many consumer goods. After all, a pair of Levi’s Jeans is a pair of Levi’s Jeans. So why not buy them from the online retailer that offers free overnight shipping and a 20% off coupon.

While it’s important to do your homework before hiring a professional, such as an attorney, the decision shouldn’t be based upon price alone.

A recent Forbes article explored the costs of hiring cheap legal counsel. The moral of the story is not to hire an attorney based upon price alone. Law can be very complex, so it’s important to do your homework before selecting the attorney who’s right for you. While Attorney X may have a steeper hourly rate than Attorney Y, Attorney X’s specialized experience and keen negotiating skills could enable her to get speedier results costing you less in the long run. Or Attorney A’s attention to detail could provide you with a more ironclad contract than Attorney B, who would charge you $1,000 less for the same document. Attorney’s D concierge approach to customer service may make the process less stressful than the factory atmosphere of Attorney E’s office.

At Maselli Warren, P.C. our attorneys evaluate your case one-on-one and take the time to develop a relationship with each of our clients. If you need something or someone we can’t provide, we have an extensive referral network to make sure you end up in the right hands.

credit card payments explained

Who Cares About Your Credit?

Employers, Banks, Credit Card Companies, Landlords, Insurance Agents, Utility Companies…Lots of people!

Most importantly you should care about your credit!

Haven’t checked your credit report in a while? Don’t even know your credit score? Or where to find it?

Remember, you are entitled to one free credit report from each of the three credit reporting agencies each year.

You can get a copy of your credit report for free by clicking here.

Tired of getting pre-approved credit offers in the mail? Call 1-888-5-OPT-OUT to remove yourself from lenders’ pre-approved lists. You might even save yourself a few points on your credit score!

bankruptcy paperwork 2

Will Your Estate Have Money Woes?

Federal estate taxes impact few with the federal estate tax exemption permanently set to $5 million ($5,250,000 for 2013 accounting for inflation).

However, New Jersey residents are subject to the state’s estate and inheritance taxes.

In New Jersey, the current 2013 estate tax exemption is a mere fraction of the federal at $675,000 and estates exceeding that are subject to estate tax burdens up to 16%.

Leaving a gift to a niece, nephew, significant other or friend? New Jersey also collects inheritance taxes of up to 16% for such gifts.

Have concerns about the health of your estate plan? Give one of our friendly attorneys a call!

Attorney Spotlight: The Money Lady

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Kimberly Pelkey Sdeo

Attorney, Kimberly Pelkey Sdeo, is passionate about financial literacy and she utilizes her skills in helping her clients achieve their goals every day.

She’s also active in our local community advocating about the importance of financial literacy and personal finance. Recently, Kimberly mentored high school students at the Junior Achievement Women’s Future Leadership Forum on the ins and outs of using credit wisely.

Kimberly has also partnered with a local non-profit organization where she teaches a monthly financial literacy course, covering topics from basic banking skills, developing good credit habits, and how to create a budget that works for you.

Are your money troubles getting in the way? Give Kimberly a call to set up an appointment today!  

Does Filing Bankruptcy Remove Liens Against You?

If you are in a period of financial hardship, there is no price that can be put on the ability to declare bankruptcy in order to have the ability to restore your financial credibility. Prior to declaring bankruptcy, people understandably want to know exactly what debts are able to be cleared. One common area of confusion is liens. This confusion is can be quite justified as the law treats each of the three types of liens differently. Continue reading

What Types of Debt will Bankruptcy Not Erase?

bankruptcy paperwork 2

Bankruptcy is a powerful tool that can be used to wipe away your debts and get a fresh start. While bankruptcy can be a good choice, it does have limitations. One limitation to bankruptcy is that certain types of debts are not discharged, or wiped away. These non-dischargeable debts include back taxes, student loans, alimony, child support, court ordered restitution, and illegally accrued debt. It is essential to speak with an attorney prior to declaring bankruptcy to ensure that your debts are not of these specific types. Continue reading

Bankruptcy attorney

How Long Does it Take to File Bankruptcy?

Bankruptcy in New Jersey and Pennsylvania

Filing for bankruptcy is a difficult decision for many to make, but it can often be the best path back to financial stability. The prospect of the fresh start often has individuals faced with this decision eager to be able to get started and re-build their credit. Therefore people often want to know exactly how long the period of time is from the filing of bankruptcy to the discharge of that bankruptcy. While each case is unique, it is possible to offer ballpark estimates for the duration of a bankruptcy proceeding. Continue reading

The Basics of Filing Bankruptcy in Pennsylvania

debtIn Pennsylvania there are two available types of bankruptcy. The first is Chapter 7 bankruptcy, also referred to as “liquidation”. The liquidation form of bankruptcy sells non-protected assets in order to satisfy debts. Once all of the assets are sold off then the remaining debts are wiped clean on discharge. Because debts are wiped away entirely, Chapter 7 is often preferred by individuals – despite the requirements of a ‘means test’. Continue reading

How Long Does a Bankruptcy Stay on Your Record?

credit cardsDeclaring bankruptcy is a serious decision and can be a very useful and powerful tool to help an individual start over financially. Even though in some cases bankruptcy can be the best path to financial stability, considering bankruptcy is nearly always a stressful time. The best means to counter the uncertainty and doubt attached to such an important financial decision is to have the knowledge and reassurance that bankruptcy is the best strategy to remedy your current situation. One of the most common questions that we hear is: Continue reading