Fox Business has an article on "debt consolidation vs bankruptcy". The article contains a compare and contrast between the 2 strategies. The article can be found at https://www.foxbusiness.com/personal-finance/debt-consolidation-vs-bankruptcyAt Shenwick & Associates we have helped clients with both debt consolidation and personal bankruptcy and we can answer questions on both of these topics. Jim Shenwick, Esq 212 541 6224 jshenwick@gmail.com

 CNBC has an article on "Who Benefits the Most from Student Loan Forgiveness" the article can be found at https://www.cnbc.com/2022/09/11/heres-who-benefits-most-from-student-loan-forgiveness.htmlJim Shenwick, Esq jshenwick@gmail.com 212-541-6224

Trying to Settle Her Debts through Americor, Liz gets a Warrant in Debt Liz was shocked when the sheriff brought a warrant in debt for her $2680 Victoria’s Secret account. Liz Tried to Settle Her Debts Liz tried to settle her debts. She worked through Americor and gave them $664 per month. Victoria’s Secret was […] The post Settling Her Debts through Americor, Sheriff Brings a Warrant by Robert Weed appeared first on Northern VA Bankruptcy Lawyer Robert Weed.

S. MAYER LAW is proud to announce it received national certification as a Women’s Business Enterprise by the Women’s Business Enterprise National Council (WBENC). The WBENC standard of certification is a meticulous process including an in-depth review of the business. The certification process confirms that the business is owned, operated, and controlled by a woman. About S. Mayer Law: Sylvia Mayer, with S. Mayer Law, is an arbitrator, mediator, and attorney.  S. Mayer Law is her solo law and ADR practice.  As a member of the National Academy of Distinguished Neutrals and a Credentialed Advanced Mediator with the Texas Mediator Credentialing Association, Sylvia Mayer is an experienced neutral who has served as a mediator or arbitrator in thousands of disputes.  For more information, visit www.smayerlaw.com. About WBENC: Founded in 1997, WBENC is the nation’s leader in women’s business development and the leading third-party certifier of businesses owned and operated by women, with more than 17,000 Women’s Business Enterprises, 14 national Regional Partner Organizations, and more than 350 Corporate Members.  More than 1,000 corporations representing America’s most prestigious brands, as well as many states, cities, and other entities, accept WBENC certification.  For more information, visit www.wbenc.org. The post Certified by the Women’s Business Enterprise National Council appeared first on Sylvia Mayer Law.

Investopedia has a helpful article titled "How to File for Student Loan Bankruptcy" The article can be found at https://www.investopedia.com/how-to-file-student-loan-bankruptcy-4772237Jim Shenwick, Esq jshenwick@gmail.com 212 541 6224

If you’ve recently applied for Social Security Disability (SSDI) benefits in New Jersey, it’s important to understand what your payments may look like. Depending on your work history, you may be entitled to the maximum disability benefit amount in New Jersey. In New Jersey, the maximum disability benefit amount is $3,345 per month. However, that doesn’t mean you’ll automatically receive that amount in monthly payments. In order to qualify for the maximum disability benefit amount, you must have a sufficient work history and a medical condition that qualifies you for SSDI payments in the first place. Although SSDI recipients can receive the maximum disability benefit amount for life once approved, several things can threaten access to benefits. Substantial gainful activity, trial work periods, and changes in disability can all impact your disability payments in New Jersey. Our attorneys are dedicated to helping New Jersey residents take advantage of the disability benefits available to them. For a free case evaluation with the New Jersey disability lawyers at Young, Marr, Mallis & Deane, call today at (609) 557-3081. What is New Jersey’s Maximum Disability Benefit Amount? As a Social Security Disability benefit recipient in New Jersey, understanding the maximum disability benefit amount is important. Without knowing the payment parameters, recipients may be unable to assess their benefits and learn what they deserve. The maximum disability benefit amount for SSDI recipients in New Jersey in 2022 is $3,345. That said, the average amount New Jersey residents receive is just over $1,000. You can expect to receive your payments monthly, so long as you remain eligible for SSDI benefits in New Jersey. While there is a maximum disability benefit amount for New Jersey SSDI recipients, there is no minimum. Because of this, it may be difficult for New Jersey residents to properly gauge the monthly payments they deserve. To learn more about your SSDI payments and their amount, speak to an experienced East Brunswick disability lawyer. Remember, being eligible for SSDI payments does not mean you will receive a monthly benefit of $3,345. Your attorney can prepare you for your likely benefit amount and help you apply for SSDI benefits in New Jersey. Are You Eligible for the Maximum Disability Benefit Amount in New Jersey? While the maximum disability benefit amount may appeal to New Jersey residents, it is not available to all. You must meet certain criteria to qualify for the maximum disability benefit amount of $3,345 per month. When determining eligibility for SSDI benefits, work history and disability matter most. That said, only the former matters when determining eligibility for the maximum disability benefit amount. Work History To qualify for SSDI benefits in the first place, you must have a sufficient work history or have a parent with sufficient work history. As you work over the years, your employers must take taxes for Social Security out of your paychecks. This is what, over time, allows you to pay into the system and become eligible for SSDI payments in the future. The more years you work and the more Social Security taxes taken out of your paychecks by employers, the larger your monthly benefit will be. According to the Social Security Administration, $3,345 each month is the maximum amount available to eligible SSDI recipients, often those that have reached full retirement age. To better understand whether your work history qualifies you for the maximum monthly SSDI payment of $3,345, speak to a Hamilton Township disability lawyer. Your attorney can assess your work credits or a parent’s credits to determine if you are eligible for the maximum disability benefit amount in New Jersey. Medical Condition Because medical condition does matter when determining eligibility for SSDI benefits, New Jersey residents may be under the impression that disability also impacts the amount they can receive in monthly payments. This is not the case. Suppose the Social Security Administration deems your condition severe enough to receive benefits. In that case, it is no less severe than any other recipient’s disability. So, disability severity does not impact your disability benefit amount. Apart from making you eligible for benefits in the first place, your disability or condition will not determine whether or not you receive the maximum benefit amount of $3,345 each month in New Jersey. What Can Impact Your Access to the Maximum Disability Benefit Amount in New Jersey? While your monthly disability benefit payments won’t reduce unprompted, they can stop altogether under certain circumstances. In New Jersey, SSDI recipients that earn over a certain amount each month can see their payments stop. When a disability is removed, your maximum disability benefit may halt entirely. Although the amount of your monthly payments is seemingly set in stone once you qualify for SSDI, failing to adhere to the Social Security Administration’s regulations can threaten your access to the maximum disability benefit amount in New Jersey. Substantial Gainful Activity In order to qualify for SSDI benefits at all, your disability or condition must make it impossible for you to engage in substantial gainful activity (SGA). Social Security Disability benefits are designed to replace income for those unable to earn it because of a medical condition. The Social Security Administration may believe you don’t require benefits if you earn over a certain amount each month. In New Jersey, those that earn over $1,350 a month in additional income, or $2,260 if they are blind, breach the SGA threshold. Going over the SGA limit won’t just cause your monthly payments to decrease for the month in question. Instead, it can cause you to lose access to your monthly disability benefits altogether. Trial Work Periods The Social Security Administration provides a pathway for SSDI recipients to test whether they can return to work. This is known as a trial work period (TWP). While TW Ps can be helpful to recipients, they can also be harmful. In New Jersey, a TWP is triggered every month you earn over $970. If left unchecked for nine months, TW Ps can cause SSDI recipients to lose access to their disability benefits in New Jersey. Unfortunately, TW Ps are triggered automatically, leaving many New Jersey SSDI recipients none the wiser until it is too late. To avoid losing access to the maximum monthly benefit amount of $3,345, speak to a New Jersey disability lawyer to learn more about trial work periods. Improved Condition Social Security Disability benefits are meant for those unable to work because of a disability or medical condition. If your condition is removed and you can return to work, your benefits will cease. Because SSDI benefits are for those with total disability, an improved condition will cause your monthly benefits to stop altogether. Call Our Attorneys to Learn More About Disability Benefits in New Jersey If you need assistance applying for disability benefits in New Jersey, our attorneys are here to help. For a free case evaluation with the Marlton, NJ disability lawyers at Young, Marr, Mallis & Deane, call today at (609) 557-3081.

How Long Will Bankruptcy Mess Up My Credit? What Happens To Your Credit When You File For Bankruptcy? Many people hold off filing bankruptcy because of the potential impact it could have on their credit. It is true that declaring bankruptcy can cause a drastic change in your credit score and comes with other long-term credit implications. However, it’s always important to consider the alternative in these types of situations- a repossession, foreclosure, judgment, and wage garnishment could also seriously damage your credit. Unlike bankruptcy, these alternatives will only make your financial situation worse. Read on to learn more about how bankruptcy might affect your credit, for how long, and other related considerations. If you have any additional questions or concerns, call 480-470-1504 for your free consultation with one of our experienced Arizona bankruptcy lawyers. Your Credit Score Upon Filing Bankruptcy Most of our clients assume that filing bankruptcy will cause their credit scores to immediately nosedive. However, this is only true if you have decent credit when you file. A debtor with a high credit score can expect to see a drop after filing their petition with the court. A debtor with a low to medium credit score might not see much change, or even a small improvement in their credit score. You can talk to a bankruptcy attorney for further details about how bankruptcy can affect your financial situation as a whole. Call 480-470-1504 to schedule your free consultation with a skilled Ahwatukee bankruptcy lawyer. Standard Bankruptcy Periods If you’re concerned about long-term credit impact when considering bankruptcy, there are some certain time periods you’ll want to know about before filing. Filing a Second Bankruptcy It may sometimes be beneficial to wait to file bankruptcy until someone’s financial situation has stabilized. Otherwise, they may continue to accrue debt after the bankruptcy. That person would need to wait a considerable time before enjoying bankruptcy’s full benefits again. The waiting periods between bankruptcy cases are: 8 years between a Chapter 7 and a Chapter 7 6 years between a Chapter 13 and a Chapter 7 4 years between a Chapter 7 and a Chapter 13 2 years between a discharged Chapter 13 and a Chapter 13 4 years between a dismissed Chapter 13 and a Chapter 13 Mortgage Waiting Period While buying a home isn’t at the forefront of the minds of most people considering bankruptcy, it may be important to you that you will be disqualified from most home mortgages for 2 years after filing. Filing bankruptcy won’t disqualify you from renting, but that may be one of your only options after bankruptcy if you don’t already own your home. How Long Does Bankruptcy Remain on My Credit Report? The length of time that a bankruptcy filing remains on your credit report depends on the chapter you file. A Chapter 13 bankruptcy will remain on your credit for 7 years. A Chapter 7 bankruptcy will remain on your credit for 10 years. What Might Happen to Your Credit Without Bankruptcy For some people, self-negotiation, debt settlement, or debt consolidation could be more effective to deal with debts than bankruptcy. If you have a small amount of debt and can find a reputable representative for alternative debt resolution methods, bankruptcy’s disadvantages could outweigh its benefits. These alternatives to bankruptcy work best when you have a relatively small debt load and the time to work things out with your creditors. If you have waited too long to address your debt situation, your creditors could be moving in on stricter methods of collection. These can include eviction, foreclosure, lawsuits, wage garnishments, vehicle repossession, utilities and services shutoffs, and more. These can have a severe negative impact on your credit just like bankruptcy, but could leave you without a home, car, hefty portion of your paycheck, and even electricity and internet. One of the reasons that bankruptcy could help your credit despite its implications for your credit is that the automatic stay will stop your creditors from pursuing all these types of actions. Improving Your Credit After Bankruptcy You aren’t just stuck with the credit score you arrive at after filing bankruptcy. There are several steps you can take to improve your credit after your case has been discharged. Many of them are similar to the steps you would take to improve your credit regardless of filing bankruptcy. In general, you need to make sure to pay monthly bills on time. Timely payments will start to build up a positive credit history after having your slate cleaned by bankruptcy. Review and possibly reconsider your auto loan. If you finance your vehicle and keep it in bankruptcy, your auto lender doesn’t have to report your timely payments to the credit bureau anymore. However, they can and will still report whenever your payments are late. Depending on your vehicle’s condition and how it suits your current needs, it may be time to trade it in. When you finance a vehicle after bankruptcy, the lender will be required to report your timely payments, which can help improve your credit score. Carefully consider a new credit card(s). All of your credit cards will be frozen and closed when you file bankruptcy. That doesn’t mean you will be stuck without a credit card forever. You can expect to be flooded with offers for new credit cards shortly after your case is discharged. Not all of these offers will come with the best interest rates, annual fees, and other terms. You should review these credit card offers extremely carefully, no matter how attractive the sign-up bonuses they offer are. These short-term incentives could come with hidden drawbacks that could cost you far more in the long run, and in a time when your credit is vulnerable from a recent bankruptcy. Look for options to enroll in credit reporting. Some of your monthly expenses, like rent, streaming services, and cell phone services come with the option to include credit reporting. That means that if you pay your bill on time, it will be reported to the credit bureau and contribute to a positive credit history. This comes with the disadvantage that if you make late payments, this can hurt the credit you are trying to rebuild. When paying for bankruptcy with a payment plan, look for credit reporting as well. Many attorneys will advertise payment plans for their legal fees. It’s important to observe whether these are pre-filing or post-filing options. Paying for your installments can make it more affordable but may not do you any good if your balance still needs to be paid in full before filing your petition (and potentially reducing your debt-related expenses.) If you qualify for your attorney’s post-filing payment plan, see if it includes credit reporting so those timely payments can help improve your credit. Affordable and Reliable Arizona Bankruptcy Lawyers A good bankruptcy attorney can make sure that you are prepared both for your bankruptcy filing and for your life after bankruptcy. A bankruptcy petition filed improperly could result in a stressful case that doesn’t result in full benefits for the debtor. Our firm offers reputable bankruptcy representation with payment plans that make filing bankruptcy more affordable. Our post-filing payment plans include a zero percent interest rate and credit reporting. Contact us today to see if you qualify at 480-470-1504.   Arizona Offices: Mesa Location: 1731 West Baseline Rd., Suite #100 Mesa, AZ 85202 Office: (480) 448-9800 Email: info@myazlawyers.com Website: https://myazlawyers.com/ Phoenix Location: 343 West Roosevelt, Suite #100 Phoenix, AZ 85003 Office: (602) 609-7000 Glendale Location: 20325 N 51st Avenue Suite #134, Building 5 Glendale, AZ 85308 Office: (602) 509-0955 Tucson Location: 2 East Congress St., Suite #900-6A Tucson, AZ 85701 Office: (520) 441-1450 Avondale Location: 12725 W. Indian School Rd., Ste E, #101 Avondale, AZ 85392 Office: (623) 469-6603 The post How Long Will Bankruptcy Mess Up My Credit? appeared first on My AZ Lawyers.

NYS Equitable Distribution Law and Fraudulent ConveyancesFreeman Law wrote a very interesting and informative article  titled Can Trustees Avoid Transfers Made Pursuant to Divorce Decrees or Other Agreements Incident to Divorce?  The article was published in JD Supra at https://www.jdsupra.com/legalnews/can-trustees-avoid-transfers-made-3271604/?origin=CEG&utm_source=CEG&utm_medium=email&utm_campaign=CustomEmailDigest&utm_term=jds-article&utm_content=article-linkIn the article, the author discusses whether Bankruptcy Trustee’s in Ohio can avoid transfers made pursuant to divorce decrees (yes according to the author)  and discusses fraudulent conveyance law.In NYS the division of marital property is governed by equitable distribution. Which is defined as a  division of marital property between spouses that is equitable or fair. The division does not have to be equal to be considered fair.As a result, if a couple is divorcing in NYS and one spouse owes money to creditors, the divorce presents an opportunity for the spouse who owes money to creditors (a debtor) to make themselves judgment proof or otherwise engage in  asset protection planning.Let’s look at an example. A couple is married and they own a house that has appreciated in value. The house has a fair market value of $1,000,000 and is subject to a $250,000 mortgage. The couple has 2 minor children and custody of the children will be given to the mother, who does not work.The husband had started a business which subsequently failed and he owes or has guaranteed debt exceeding $2,000,000.  The husband cannot repay that debt in the near term and he expects to get sued in the future.During the divorce process, each spouse hires a divorce attorney, and the husband consults a bankruptcy attorney who advises him to transfer the house to his wife.When the divorce is finalized, the husband has few assets that can be liened or levied by creditors and the wife has a house for herself and her children.Does NYS or bankruptcy law consider the conveyance of the house a fraudulent conveyance? Depending on the facts probably not and if a creditor were to challenge the conveyance it would result in lengthy and costly litigation. Clients with questions about fraudulent conveyance law and bankruptcy should contact Jim Shenwick, Esq   jshenwick@gmail.com   212 541 6224

 1,107 followenowForbes has an article about "Get Refunded For Student Loan Payments Made During The Pandemic" the article can be found at https://www.forbes.com/advisor/student-loans/student-loan-payment-refunds/Jim Shenwick, Esq.  jshenwick@gmail.com   212  541 6224

If you’re planning on applying for disability benefits in New Jersey, you should know a few things. For example, knowing when you’ll receive benefits, and the amounts of those benefits is of the utmost importance. In New Jersey, you can’t get your Social Security Disability (SSDI) benefits on a weekly basis. Instead, you’ll receive monthly payments that reflect your work history. In 2022, the maximum monthly SSDI benefit is $3,345 (or $771.92 when divided across all 52 weeks in a year). However, that amount is not guaranteed for all New Jersey residents. Even if you qualify for the maximum monthly payment, some things can threaten your access to benefits. For example, earning too much additional income can halt your monthly SSDI payments. To protect your access to benefits and understand your payments, turn to an experienced disability lawyer. Our attorneys are here to help New Jersey residents access the disability benefits they deserve. For a free case evaluation with the New Jersey disability lawyers at Young, Marr, Mallis & Deane, call today at (609) 755-3115. Can You Get Disability Benefits Weekly in New Jersey? If you qualify for SSDI payments in New Jersey, you can start receiving benefits to compensate you for lost wages due to injury or illness. Because you will likely depend on these payments to replace your lost income, it’s important to learn how often you can expect to receive them. You should first know that you won’t receive weekly SSDI payments in New Jersey. Instead, you’ll receive your benefits on a monthly basis. Furthermore, each month’s benefit will be received the following month. For example, you’ll receive your January benefit in February, and so on. Because you will not receive weekly SSDI benefits in New Jersey, it’s important to budget your expenses in accordance with your monthly payments. This can confuse New Jersey residents who may be used to bi-weekly paychecks, not monthly ones. If you are concerned about receiving monthly benefits instead of weekly payments, speak to your Mount Holly disability lawyer. Your attorney can help you better understand how you will receive payments and when. The day of the month you receive your SSDI payments will depend on your birthday. Those born between the 1st and the 10th will get payments on the second Wednesday of the month. New Jersey residents born between the 11th and the 12th will receive payments on the third Wednesday of the month. And those born between the 21st and 31st will receive their checks on the fourth Wednesday of the month. Remember, weekly SSDI benefits aren’t available in New Jersey. What is the Maximum Benefit for Disability Recipients in New Jersey? In addition to knowing when you’ll receive your disability benefits, it’s important to understand how much you can get. Each year, the Social Security Administration adjusts its limits for monthly SSDI payments to account for inflation and other factors. As of 2022, the monthly maximum has once again increased. In 2022, the monthly benefit maximum for SSDI payments is $3,345. To find the weekly average, we can multiply that monthly amount by 12 for each month, then divide by 52 weeks in the year for a total of around $771.92 per month.  Some months have more than 4 weeks, so dividing by 4 does not give us an accurate calculation of how this converts to weekly pay. That doesn’t mean you will receive that much, however. In New Jersey, residents become eligible for SSDI benefits when they pay into the system over time. Essentially, when you work over the years, your employer will take taxes for Social Security out of your paycheck. The more extensive your work history, or the more taxes taken out of your paychecks over the years, the larger your monthly benefit may be. To better understand your likely monthly disability benefit, speak to a Trenton disability lawyer. While the maximum monthly benefit may seem appealing, it is by no means guaranteed for all New Jersey residents. Your lawyer can help you understand your monthly benefit based on your work history in New Jersey. What Can Threaten My Maximum Disability Benefit in New Jersey? Once you start receiving SSDI payments in New Jersey, whether you’re getting the maximum benefit or not, that amount is subject to change. In New Jersey, you can receive SSDI benefits so long as you are eligible. If changes threaten your eligibility, you may lose access to benefits. This applies to all SSDI recipients in New Jersey, whether they receive the maximum monthly payments or not. Knowing what can affect your payments is crucial, especially if you depend on SSDI benefits to support you and your family. Improved Condition If your disability is removed while receiving SSDI payments, your benefits will stop. As a rule, you should inform your New Jersey disability lawyer of any changes to your medical condition. While it’s possible that those changes can threaten your access to benefits, you must report such changes to the Social Security Administration. Substantial Gainful Activity Substantial gainful activity (SGA) is often impacts access to SSDI benefits for New Jersey recipients. Social Security Disability benefit recipients are prohibited from earning a certain amount of additional income. If you choose to have a part-time job while receiving monthly SSDI payments, you may lose access to benefits if you earn over $1,350 a month or $2,260 a month if you’re blind. With SSDI benefits, it’s all or nothing. So long as your condition remains and prevents you from engaging in SGA, you can receive your maximum SSDI benefit. If anything changes, your monthly payments won’t just reduce, but they will stop entirely. Trial Work Periods Trial work periods (TWP) can also impact New Jersey residents receiving SSDI payments. If you get monthly SSDI benefits and earned over $970 in the past month, speak to a New Jersey disability lawyer. You may have unknowingly entered into a TWP and have put your access to benefits at risk. Call Our New Jersey Lawyers to Learn About Your Disability Benefits Today If you think you may be eligible for the maximum disability benefit in New Jersey, ask our attorneys for clarification. For a free case evaluation with the Piscataway disability lawyers at Young, Marr, Mallis & Deane, call today at (609) 755-3115.