A Chapter 13 is a reorganization, and is for individuals who have regular income and can pay back at least a portion of their debt/creditors, through a repayment plan. A Chapter 7 bankruptcy is a complete discharge of your debts (with certain exclusions), for those individuals whose monthly expenses exceed their income.
Continue reading ›Partner, Patrick Derkacz, recently settled an auto injury claim for $1,195,000.00 for a husband and wife who were the victims of a violent car accident. The couple was traveling to see their granddaughter’s new apartment on a Sunday morning before their lives were changed forever. They were violently rear-ended by a vehicle driving 70 mph.…
Continue reading ›1.) Q: What is the Chapter 7 bankruptcy process? A: If you are considering bankruptcy, we would ask you numerous questions about your income, assets, expenses, and debts. We would run your credit report to determine the amount you owe each creditor. If we find that your monthly expenses exceed your income, and your assets…
Continue reading ›After you’ve negotiated the terms of your divorce judgment, and you are officially divorced, you will still have a lot of loose ends to tie up. One often overlooked issue that needs to be addressed, is updating your estate plan. Generally, an estate plan will include a trust or will, a durable power of attorney,…
Continue reading ›One of the most common questions we receive is “how long do I have to wait until my divorce is final?” The statutory minimum for a divorce withoutminor children is sixty (60) days. The statutory minimum for a divorce withminor children is six (6) months. That being said, the actual time that your particular case…
Continue reading ›Everyone loves saving money, but it could cost you if your current means of doing so include not listing all drivers of your vehicle on your insurance policy. SMDA recently worked a case where the insurance company claimed they were entitled to deny no-fault insurance benefits to our client because he allegedly was not listed…
Continue reading ›There is a new mobile system that veterans can utilize in order to access healthcare services from their mobile devices. The Veterans Affairs Telehealth Services can now be accessed by app, making it easier for patients to schedule visits from as many as 50 types of health care services remotely. Last year alone 700,00 veterans…
Continue reading ›A legal separation and a divorce are two distinct court cases and two distinct marital statuses. Legal separation does result in a final division of marital assets but the parties are still married and therefore cannot re-marry. If you have gone through a legal separation, but you later decide you want to divorce, you can…
Continue reading ›A common problem for divorced couples, is that they go from a standard of living based upon two incomes, to a standard of living based upon one income. In addition, payments and debts are divided, and individuals are often left with a combination of high outstanding balances and high monthly payments. If your expenses exceed…
Continue reading ›New Year, New Dangers From crowded student parking lots to the renovations some schools seem to perpetually undergo, to the constant threat of bullying, there are many things to be cautious of as a parent or a student heading into a new school year. As a fellow parent, the last thing we want is for…
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