Steven J. Richardson
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Bankruptcy, Collections, Student Loan, DUI and Traffic Court attorney in Woodbury, NJ.

Times have really been tough the past few years, with people losing their jobs and being out of work for extended periods of time. They have mounting debt, they know they have to file bankruptcy, but they cannot afford the lawyer. Heck, they can barely afford the $335 filing fee for a chapter 7. Unfortunately, many of them come up with the bad idea of handling the bankruptcy themselves. Bad idea!

There are many reasons why I say this, not the least of which the complexities of some of the issues like means testing, but I recently wrote about another trap that people can fall into simply by not having a lawyer assist them in dealing with a particular situation the right way.

Financial Fresh Start Before the Wedding: Losing the Engagement Ring!

Single people with a high debt load want to get rid of it before they get married; they need a fresh start in more ways than one. So they figure they will file bankruptcy before the wedding and wipe the slate clean for their new life with their soul mate. But if the bride does this without a lawyer, she could face losing the engagement ring!

She lists it as a piece of jewelry in her bankruptcy petition, but either doesn't exempt it at all or there is not enough of an exemption to protect its entire value.

The tragedy here is that, under New Jersey law, the ring probably doesn't belong to her in the first place! A good bankruptcy lawyer would know that and how to deal with it on the petition.

Get a Lawyer!

If you are thinking about filing bankruptcy, talk to a lawyer, and plan to hire one to handle it for you. Here are a few tips on how to find a good one.

If you live in the Gloucester County, New Jersey area, you can always call me at 856-432-4113 or contact me through this site to schedule an appointment in my Woodbury office.. Don't let bankruptcy ruin your wedding!

If you have more questions about bankruptcy, then download my free book,Top Questions People Ask About Filing Bankruptcy in New Jersey.

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