Lofaro & Headley, LLCHoboken Family Law & Divorce Lawyer | Lofaro & Headley, LLC | Jersey City Chapter 7 & 13 Bankruptcy Attorney2024-02-20T19:30:37Zhttps://www.lofaro-headley.com/feed/atom/WordPressOn Behalf of Lofaro & Headley, LLChttps://www.lofaro-headley.com/?p=546252024-02-20T19:30:37Z2024-02-20T19:30:37ZTip 1: Find effective communication strategies
Open and honest communication is important to help children cope with divorce. It is necessary to maintain age-appropriate conversations and discuss the situation with your children in a way they can understand without overwhelming them with details.
Reassure children by ensuring they know that both parents will continue to love and support them.
Tip 2: Provide a sense of stability
Children are more likely to cope when going through significant changes if they have a sense of stability. It helps to keep daily schedules for meals, school, and bedtime as regular as possible.
Parents can also work together to maintain consistency in rules and discipline between two households.
Tip 3: Tailor legal plans to meet your family’s needs
Divorce is a legal process and parents will need to decide matters like custody and child support. If planning to co-parent, aim for a custody agreement that provides stability and meets the children's needs. When possible, avoid discussing court matters or displaying conflict in front of the kids.
It is also important to come up with a financial arrangement this is fair and helps meet the children’s needs. This can include the cost of educational and extracurricular needs. For older children, it is also important to discuss the possibility of college and the associated expenses.
Divorce will affect children, but you can help manage the extent of its impact. By communicating effectively, creating stability, understanding the legal implications, and reducing legal strain, parents can help their children adjust more comfortably to the changes. Remember that the way you handle the divorce can set the tone for your child's adaptation and emotional health. Keep their needs in mind as you navigate this transition.]]>On Behalf of Lofaro & Headley, LLChttps://www.lofaro-headley.com/?p=546182023-11-25T20:50:10Z2023-11-25T20:50:10ZChapter 7: The liquidation route
Chapter 7 bankruptcy involves selling your assets to pay off your debts, a process known as liquidation. This type of bankruptcy is generally quicker, lasting about three to six months. The court appoints a trustee to oversee the liquidation process, ensuring fair distribution of the proceeds among creditors. Once the process concludes, the individual receives a fresh start as the court discharges most remaining debts. In 2022, 239,125 people filed for Chapter 7 bankruptcy.
Chapter 13: The repayment plan
On the other hand, Chapter 13 bankruptcy involves creating a repayment plan. If you have a regular income and can contribute a portion of it toward repaying your debts, Chapter 13 might be the appropriate choice. The repayment plan spans three to five years, during which you make monthly payments to a trustee, who then distributes the funds to your creditors. Unlike Chapter 7, you retain control of your assets under Chapter 13, as long as you adhere to the repayment plan.
Key differences: Eligibility and property
One key distinction lies in eligibility. Chapter 7 is available to those with limited income, whereas Chapter 13 is an option for individuals with a steady income. Additionally, the treatment of property differs. Chapter 7 may require the sale of non-exempt assets, while Chapter 13 allows you to retain your property as long as you meet the repayment obligations outlined in your plan.
Each chapter has its advantages and drawbacks, and the choice between them should align with your financial situation and goals.]]>On Behalf of Lofaro & Headley, LLChttps://www.lofaro-headley.com/?p=543612023-08-24T16:42:06Z2023-08-24T16:42:06ZWhen does unpaid child support affect a parent's passport?
In cases where child support payments are overdue, the noncustodial parent may face the denial or revocation of their passport. This acts as a strong incentive for non-paying parents to address their child support arrears right away.
In the United States, the federal government can deny passports through the Passport Denial Program. According to the Administration for Children and Families, parents can lose these privileges once their child support arrears reach $2,500.
How can parents who owe back support protect their passport?
Those who owe back child support should focus on safeguarding their ability to travel overseas. By paying the overdue amount or entering into a repayment plan, parents can restore their passport privileges and fulfill their financial responsibilities at the same time.
To avoid the loss of passport privileges, it is important for noncustodial parents to make payments on time and in full. If they are facing financial difficulties, they should look into the possibility of modifications or adjustments to their child support payments.]]>On Behalf of Lofaro & Headley, LLChttps://www.lofaro-headley.com/?p=543382023-05-19T21:11:17Z2023-05-19T21:11:17ZYou get an automatic stay
As soon as you file for bankruptcy, you get an automatic stay. That means that creditors cannot pursue collecting your payments until the court discharges your debt or creates a payment plan.
You get relief from creditors
Because of your stay, you will get relief from the pressure of your creditors. This can be long-lasting if the courts discharge your debts.
You can address some back taxes
If the IRS is garnishing your wages, going through the bankruptcy courts could be a great way to address some of your back taxes. While the courts cannot dismiss most of them with this process, older ones may be eligible. They can discharge only income taxes that are at least three years old. The courts cannot discharge penalties and payroll taxes.
Your financial situation is the key piece that can tell you whether this is a good option for you. If you are drowning in debt and cannot see a way out, bankruptcy could be a good option. That said, make sure to explore other options as well, such as debt consolidation and settlement.]]>On Behalf of Lofaro & Headley, LLChttps://www.lofaro-headley.com/?p=543372023-02-08T17:12:27Z2023-02-08T17:03:19ZMediation
This is where mediation comes into play. Mediation is a form of alternative dispute resolution (ADR) used for many purposes including divorce and child custody.
The way mediation works is:
The couple chooses a mediator of their choice.
The mediator meets with both parties (and their attorneys if the parties have them)
The mediator schedules a session and creates a personalized approach to your mediation.
At the session, the mediator strategically facilitates a conversation between the parties (or their attorneys) with everyone in the same room, or with one party in one room and the other party in another room and the mediator going back and forth, if necessary.
The mediator tries to help the parties uncover what is most important to each of them. Often, divorcing couples complicate themselves with small issues. Mediation tries to get the parties to look at the big picture and to define what each party prioritizes above everything else.
After the priorities have been identified, the mediator assists the parties in reaching a settlement or agreement.
Important facts about mediation
Mediation gives the parties control over the decision-making process as it relates to their children and their property, but they must act in good faith and understand that no one is going exactly what they want.
Either party can stop mediation at any time and can go to court if they choose to do so.
Why mediation?
Mediation is an exceptional tool for solving disputes between parties who are honest and acting in good faith. In cases where the parties do not get along at all and there is significant tension or anger between them, mediation may not be the best avenue for solving the dispute.
If the parties cannot agree between themselves, a judge can help them by making that decision based on the law, facts and circumstances of the case.
The process of divorce takes a heavy toll on the parties and children, if they have any. In many cases, mediation is highly effective as a form of solving disputes and reaching an agreement. However, there must be civility between the parties and an understanding of what mediation is.
]]>On Behalf of Lofaro & Headley, LLChttps://www.lofaro-headley.com/?p=543362022-11-22T14:21:25Z2022-11-21T20:59:07ZTreating a credit card like a debit card
CNBC Select discusses ways to avoid falling into credit card debt in the future. First, start treating your credit card like a debit card. This means refusing to spend more than what you currently could be able to pay off.
If this is difficult for you to self-regulate, consider getting a secured credit card. With this type of card, you put down a sum that the bank uses as collateral. They will take it to pay off any debt you may accrue, keeping you from going into debt and also preventing you from spending more than you have.
Change bill payment habits
On top of that, make sure to change your bill payment habits. If you did not pay your bill on time or in full every single time, this is the first thing to change. Paying your bill off in full prevents you from stacking up interest charges, and paying it on time allows you to avoid late fees.
You can also eschew credit cards altogether and instead opt for a combination of cash and debit cards. However, building good credit is important, especially in the aftermath of bankruptcy, so this is not necessarily recommended.]]>On Behalf of Lofaro & Headley, LLChttps://www.lofaro-headley.com/?p=543342022-11-22T14:23:35Z2022-08-26T19:48:37Zdomestic relations law allows for uncontested, or no-fault, divorces.
Filing an uncontested divorce does not take as long as and costs less money than a contested divorce. However, the state has requirements you must meet to qualify.
You meet the residency requirement
Before you can file for a divorce in the state, you, your spouse or both must demonstrate that you meet the residency requirement. If you were married in the state, you must show that you lived in New York for one year before filing. If you were not married in N.Y., you need two consecutive years of residency.
Your marriage has irretrievably broken down
The law provides several grounds for divorce, but only one qualifies as uncontested. You have an irretrievably broken-down marriage. One party must testify under oath that the breakdown has lasted at least six months.
You both agree on settlement issues
The judicial system will not grant an uncontested divorce unless both parties agree on parenting and financial issues, such as:
Division of property
Division of debts
Terms of child custody and visitation
Alimony and child support
When you agree on all issues, you can submit the legal forms and fees to initiate the uncontested divorce.
Working through the process is never easy, but if you can meet the requirements for an uncontested divorce, you both can move on to new chapters in your lives.]]>On Behalf of Lofaro & Headley, LLChttps://www.lofaro-headley.com/?p=543212022-11-22T14:23:45Z2022-05-21T15:40:02ZA different form of intimidation
The Consumer Financial Protection Bureau examines debt collector misrepresentation as it occurs in daily life. Misrepresentation differs from harassment in several crucial ways. First of all, the goal of misrepresentation is not to scare or intimidate you in the same way harassment is.
However, there is still an element of intimidation. But the debt collector will utilize underhanded and manipulative means instead of focusing on sheer physical or emotional threats. For example, they may pretend one of their agents has a legal degree when they do not, and state that this agent can take you to court and take your house.
Lying about police involvement
They may also lie about police involvement. A lying debt collector might pretend they have a warrant out for your arrest, when in reality they could not get one or did not even contact the police department in the first place.
In the heat of the moment, it is hard to discern whether a debt collector is telling the truth or misrepresenting facts. But focusing on these risks and understanding the possibility that they may occur is the first step toward protecting yourself from this form of illegal behavior.]]>On Behalf of Lofaro & Headley, LLChttps://www.lofaro-headley.com/?p=543202022-11-22T14:21:34Z2022-02-19T16:59:08Z1% of American households file for bankruptcy each year, likely due to fears surrounding the process.
If you are in need of financial relief, do not be afraid to consider Chapter 7 bankruptcy. However, there are still some key mistakes that you should avoid before and after you file.
Making credit card purchases
After you make the decision to pursue bankruptcy, stop using your credit card. Too often, people try to run up their credit card bills, believing that those debts will disappear. Many of these such debts may not be dischargeable.
Failing to understand property exemptions
With Chapter 7, some property is exempt from the bankruptcy process. The rules regarding exemptions can be complex, particularly with complex assets. Make sure you fully understand these regulations to ensure you comply with the law.
Favoring creditors
Though you may owe money to a relative or friend, you cannot favor that person over your other creditors by repaying personal loans before filing. In some circumstances, the bankruptcy court can recover these payments.
Transferring assets to someone else
You cannot transfer property to a relative or anyone else in order to hide it from the bankruptcy proceedings. Courts can often reclaim assets that you transferred with the intent to deceive.
Bankruptcy represents a fresh start. This process does not have to be scary if you act in good faith and use common sense.]]>On Behalf of Lofaro & Headley, LLChttps://www.lofaro-headley.com/?p=543092022-11-22T14:21:44Z2021-11-23T05:51:37ZAbout the parenting plan
Your parenting plan will serve as a guide to show how you and the other parent intend to raise the children once the divorce is behind you. It will also show how you will resolve parenting issues that will inevitably crop up.
Elements to include
Every parenting plan is unique, and you can include as much detail as you like. However, you should include certain basic elements:
Parenting schedule to indicate when, where and how much time each of you will spend with the children
Visitation exchange plan and who will take charge of transportation for the children’s extracurricular activities, medical appointments and so on
Plan for making major decisions about the children’s education, medical needs, religious practices, discipline and more
How you will share child-related expenses
Plan for holidays, special events and vacation time
Plan for resolving conflicts
A look ahead
A parenting plan is a legal document that a judge will carefully review. As part of your divorce process, the court will want details as to how you will care for your children. The best parenting plans are those the parents write together with legal guidance to ensure the documents have everything a court wishes to see. Your parenting plan will serve as a blueprint for raising your children as you enter the next phase of family life in a post-divorce world.]]>