New Jersey Sample Letter regarding Discharge of Debtor

State:
Multi-State
Control #:
US-0800LTR
Format:
Word; 
Rich Text
Instant download

Description

This form is a sample letter in Word format covering the subject matter of the title of the form.

Subject: New Jersey Sample Letter regarding Discharge of Debtor Dear [Debtor's Name], RE: Discharge of Debtor in the State of New Jersey I hope this letter finds you well. I am writing to provide you with important information regarding the discharge of debt in the state of New Jersey. As you may be aware, a discharge of debt is a legal process that relieves a debtor from their obligation to repay certain debts. In New Jersey, there are two main types of discharge that debtors may seek: Chapter 7 bankruptcy discharge and Chapter 13 bankruptcy discharge. Let's take a closer look at each: 1. Chapter 7 Bankruptcy Discharge: Chapter 7 bankruptcy, also known as "liquidation bankruptcy," is a process designed to help individuals or businesses eliminate their eligible debts. Upon successful completion, a Chapter 7 discharge eliminates most types of unsecured debts, such as credit card debt, medical bills, and personal loans. However, certain debts, such as student loans, child support, and recent tax obligations, are generally not dischargeable. To apply for a Chapter 7 discharge in New Jersey, you are required to file a petition with your local bankruptcy court and provide thorough documentation regarding your financial situation. Additionally, attending a credit counseling course is typically mandatory before qualifying for this type of discharge. 2. Chapter 13 Bankruptcy Discharge: Chapter 13 bankruptcy, often referred to as a "wage earner's plan," allows individuals with a stable income to propose a repayment plan to repay all or a portion of their debts over a specified period, typically three to five years. At the end of the repayment plan, any remaining eligible unsecured debts are discharged. To pursue Chapter 13 discharge in New Jersey, you must file a petition with the bankruptcy court and submit a comprehensive repayment plan. You will also be required to attend a credit counseling course before obtaining this type of discharge. It's important to note that both types of bankruptcy discharge have their own eligibility criteria and potential consequences. Seeking legal advice from a qualified bankruptcy attorney is highly recommended understanding which discharge option may be most suitable for your specific financial circumstances. Please note that this letter is only intended to provide you with an overview of the discharge of debtor process in New Jersey. The information provided is not exhaustive and should not be considered legal advice. I urge you to consult with an attorney or seek professional assistance to discuss your personal circumstances further. Thank you for your attention to this matter. If you have any questions, please feel free to reach out to our office or consult with a legal professional. Best regards, [Your Name] [Your Title/Position] [Your Contact Information]

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FAQ

People who file for personal bankruptcy get a discharge ? a court order that says they don't have to repay certain debts. Bankruptcy is generally considered your last option because of its long-term negative impact on your credit.

What is a discharge in bankruptcy? A bankruptcy discharge releases the debtor from personal liability for certain specified types of debts. In other words, the debtor is no longer legally required to pay any debts that are discharged.

Title 11 refers to a type of bankruptcy proceeding. A title 11 case is a case under title 11 of the U.S. Code (relating to bankruptcy). However, it only applies if you are under the jurisdiction of the court in the case and the discharge of indebtedness is granted by the court or is under a plan approved by the court.

Another exception to Discharge is for fraud while acting in a fiduciary capacity, embezzlement, or larceny. Domestic obligations are not dischargeable in Bankruptcy. Damages resulting from the willful and malicious injury by the debtor of another person or his property, are also not dischargeable in Bankruptcy.

What does my Chapter 13 discharge order look like? While every court is slightly different, the Chapter 13 discharge order looks similar. It is signed by a judge and states that ?A discharge under 11 U.S.C. § 1328(a) is granted to: Your Name?.

Generally, a discharge removes the debtors' personal liability for debts owed before the debtors' bankruptcy case was filed. Also, if this case began under a different chapter of the Bankruptcy Code and was later converted to chapter 7, debts owed before the conversion are discharged.

In a Chapter 11 case filed by an individual (i.e., a natural person), a discharge is granted by the court separately, after the completion of payments under the plan. A discharge is a court order relieving the debtor from liability for certain debts.

For restitution, or damages, awarded in a civil action against the debtor as a result of willful or malicious injury by the debtor that caused personal injury to an individual or the death of an individual.

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The debtor is eligible for a discharge usually between 60 and 90 days after the Meeting of Creditors, as long as the debtor: certifies (if applicable) that all ... If [Name of Debtor] successfully completes this bankruptcy case and receives a discharge from other debts, I will send you another letter providing additional ...The discharge is a permanent order that prohibits creditors from taking any type of collection action on discharged debts. Any attempt to collect discharged ... You can serve a copy of the order to the debtor or relevant parties by certified and regular mail. It must include a receipt for request and be served at least ... The sample letter below will help you to get details on the following: Why a debt collector thinks you owe this debt. The amount of the debt and how old it is. Jan 30, 2020 — To record this relationship, you will file a UCC Financing Statement (Form UCC-1). If the conditions change, you may amend the initial filing ... Apr 12, 2023 — Once we file a Certificate of Debt/Docketed Judgment, we will conduct a bank levy. This means we will request your bank turn over funds from ... A proof of claim that a debt collector files in a bankruptcy proceeding in accordance with the requirements of the United States Bankruptcy Code (Title 11 of ... Dec 12, 2022 — The key to the new process is bankruptcy debtors completing an Attestation Form to seek the DOJ's agreement to settle the debtor's undue ... A proof of claim that a debt collector files in a bankruptcy proceeding in accordance with the requirements of the United States Bankruptcy Code (Title 11 of ...

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New Jersey Sample Letter regarding Discharge of Debtor