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Probate is the legal and financial process through which a deceased person’s estate is administered. The probate process identifies a person’s estate, pays off any debts or taxes owed by the deceased, and distributes any remaining assets of the estate as directed in a will or by New Jersey probate laws. The probate process can be complex and time-consuming—especially when there is no estate plan in place. Here, we will explore what happens to a home in probate.

Your credit score is basically a report card of your financial well-being. This three-digit number, between 300 and 850, is intended to alert creditors and lenders to your creditworthiness. The higher your score, the less “risk” you present to lenders. Creditors use this score to determine how likely you are to repay your debts on time. They will base your loan eligibility and the interest rate you receive on your credit score. A good score helps consumers secure low interest rates and better lending terms, and can help secure approval for apartments, utility services, and more. But what happens if your credit score has gone down? A low credit score does not have to stay that way. Here are some ways to improve your score after taking a hit to your credit report.

The proliferation of online casinos, betting apps, and digital gambling platforms has significantly increased the accessibility of gambling to the general public. Similar to other addictions, problematic gambling can have profound effects on many aspects of life, particularly financial stability. Individuals may incur substantial debt to support their gambling activities, frequently utilizing credit cards, loans, or personal savings while disregarding other financial responsibilities. This behavior can rapidly lead to acute financial distress and, in some cases, bankruptcy. Bankruptcy is designed to offer individuals protection from creditors and an opportunity for a financial fresh start. A primary benefit of declaring bankruptcy is the potential to discharge some or all existing debts. However, the process for discharging gambling-related debts involves specific considerations. Veitengruber Law is an experienced bankruptcy law firm in New Jersey. The following information outlines key considerations regarding gambling debts in bankruptcy. Can gambling debts be discharged in bankruptcy? In general, debts incurred as a result of gambling may be discharged through bankruptcy proceedings. There are no statutory prohibitions against the discharge of gambling debts. Nevertheless, in practice, discharging gambling debts can be more complex. In bankruptcy, gambling debts are considered unsecured creditors and will be treated just like credit card debt or personal loans. This means the debt is dischargeable under Chapter 7 bankruptcy. Under Chapter 13 bankruptcy, gambling debts are included in the 3- or 5-year repayment plan, with any remaining debt discharged at the end of the repayment term. In practice, gambling debts may prompt increased scrutiny from bankruptcy trustees, and judges often examine such cases more critically. Particularly when gambling debts are recent or excessive, bankruptcy petitions are subject to heightened review. This situation may also result in additional objections from creditors, potentially leading to further legal complications. Judges, trustees, and creditors may determine that gambling debts were incurred without any intention of repayment. Courts are generally unsympathetic toward individuals who accumulate substantial debt immediately prior to filing for bankruptcy. If it is concluded that borrowed funds were gambled away shortly before the bankruptcy filing, the court may refuse to discharge these debts. In most bankruptcy cases, debt accumulation occurs gradually or results from a clear loss of income, often developing over several months or years prior to filing. Courts are particularly concerned when gambling debts are incurred rapidly, especially shortly before a bankruptcy petition is submitted. This pattern may suggest an absence of intent to repay the debt. If the court suspects an attempt to defraud creditors, it may deny the request for discharge. Some other reasons for denial include: False Representation: Signing credit markers when you know you do not have funds to cover them or providing false financial information to obtain additional lines of credit is fraud. Evidence of this can result in a denial of discharge. Illegal Gambling: Debts incurred from prohibited gambling activities are generally not dischargeable. Bad Faith Filing: Debts incurred immediately prior to filing (within 60 to 90 days), particularly through credit cards or personal loans and without the intention or ability to repay, may be interpreted as an abuse of the bankruptcy process. If the court determines that you are attempting to use the system to avoid responsibility for your gambling debts, they will deny your discharge. If the court denies a bankruptcy discharge, the individual remains legally responsible for all outstanding debts. It is important to recognize that denial of discharge can result in serious, and in some cases permanent, consequences. These include: You remain responsible for all debts owed at the time of filing. Debts listed in a denied case cannot be discharged in future bankruptcy filings. If your bankruptcy case is denied, the automatic stay ends and creditors may resume collection efforts, including lawsuits, wage garnishment, and foreclosure. In Chapter 7 bankruptcy, the trustee may still liquidate non-exempt assets to repay creditors. What are my options after discharge denial? Following a denial of bankruptcy discharge, several options remain available. An appeal may be pursued if the denial resulted from a legal error or other issue, typically with the assistance of a bankruptcy attorney. In cases involving Chapter 7 bankruptcy, it may be possible to convert to a Chapter 13 repayment plan, provided the individual can demonstrate sufficient income to realistically repay the debts under a structured plan. However, once a bankruptcy discharge is denied, there are limited avenues for an attorney to secure a discharge. Therefore, it is essential to consult a bankruptcy attorney at the outset, particularly in cases involving gambling debts. An experienced bankruptcy lawyer can assist in presenting the strongest possible case, thereby increasing the likelihood of a favorable outcome. Veitengruber Law recognizes that individuals facing significant gambling-related challenges are not necessarily seeking to defraud the court. Those striving to recover from gambling addiction deserve an opportunity for a second chance. Individuals filing for bankruptcy after addressing problematic gambling can still pursue relief. Demonstrating good faith is highly regarded by the courts. Recognizing the problem and seeking professional assistance, including cessation of all gambling activities, are important initial steps. Depending on the severity of the gambling behavior, working with a therapist or reputable support program may provide valuable resources for long-term recovery. These actions can illustrate to the court both the seriousness of the issue and a genuine commitment to change. Past gambling behaviors can complicate bankruptcy proceedings, but this does not render a case hopeless. Most bankruptcy-related debts remain dischargeable. Demonstrating a sincere commitment to improved financial habits and accountability for past actions can significantly enhance the likelihood of obtaining a discharge. Veitengruber Law is available to assist individuals seeking a financial fresh start.

More people are filing for bankruptcy in 2026. With a seemingly endless news cycle focused on high prices, inflation, elevated interest rates, and financial uncertainty, it’s no surprise to see bankruptcy filings increase across the US. Bankruptcy filings reached a five-year high in 2025, totaling 533,949, a 12% increase from 2024. We expect that trend to continue into 2026. At Veitengruber Law, we have seen this trend personally as more New Jersey residents file for bankruptcy. Year after year, we have seen more folks making the decision to file for bankruptcy. We tell our clients that every bankruptcy case is different—because it is. No two bankruptcy filings will be the same because the people filing for bankruptcy come from different personal, financial, and logistical circumstances. However, when we see overarching trends like we are currently seeing, it points to a bigger picture. Here, we will explore the broader causes of the increase in bankruptcies. Delayed Filings Bankruptcy filings are almost never caused by current economic conditions. Instead, they are typically caused by economic events months or even years ago. The big-picture conditions that often lead to individual bankruptcy filings take a while to trickle down to the average person. Folks also tend to hold off on filing for bankruptcy as long as possible, long after they likely needed to file. Bankruptcy has a ton of negative connotations associated with it. Many people can experience feelings of shame, guilt, and despair when they are considering filing for bankruptcy. And while bankruptcy certainly comes with some trade-offs, it is often the financial reset required to get back to financial health. Still, these negative connotations can further delay filings. Big Picture Causes for Bankruptcy As discussed above, the decision to file for bankruptcy is often deeply personal and will vary from person to person. No two bankruptcy filings are exactly the same. That said, Economists have identified several economic factors over the past few years that have led to a general increase in bankruptcy filings. Those include: Rising Medical Costs: Health insurance premiums have been increasing annually, and more Americans are choosing to forego coverage to maintain their already tight budgets. With the cost of healthcare surpassing many Americans' means, more and more individuals and families are finding themselves saddled with unmanageable healthcare debt. One unexpected medical emergency can lead to bankruptcy. Increased Credit Card Debt: According to Lending Tree , US credit card debt has reached an all-time high of $1.28 trillion. As the cost of living exceeds many Americans’ budgets, more and more consumers are turning to credit cards to make ends meet. With high interest rates, using a credit card for groceries, gas, or other basic needs can quickly snowball into an unmanageable pile of high-interest debt. Student Loan Payments Restarting: The Trump administration is set to resume wage garnishment on student loan borrowers in default in 2026. Some notices have already gone out to borrowers in default on their federal student loans. While it is not clear how much people can expect to be garnished from their paychecks, this will be another financial blow to struggling individuals and families. Income Disparity: As the cost of living gets higher, incomes are simply not rising to meet the increased costs. So, while it costs the average consumer more to heat the house or put food on the table, incomes remain stagnant. As individuals try to keep up with the cost of living and fall behind, they may turn to debt to make ends meet, while at the same time having fewer means to repay it. All of these problems could individually lead to an increase in bankruptcy filings. Together, they are a major catalyst for the financial uncertainties of the average American. With many Americans already living paycheck to paycheck, preparing for emergencies caused by the above issues can be impossible for the average family. An Important Note It is important to point out that while bankruptcies are on the rise, they have not yet reached pre-pandemic levels. Before the 2020 COVID-19 pandemic, bankruptcy levels were much higher. Many economists see the increase in bankruptcies as a return to the pre-pandemic norm. During the pandemic, government funding and lender forbearance programs offered temporary relief measures to many Americans. Now that these programs have ended, we have seen a gradual return to pre-pandemic bankruptcy levels. The concern is that 2026 will see filings surpass even pre-Pandemic levels as more and more Americans face insurmountable debt. Should I file for bankruptcy? The economic issues above point to big-picture problems impacting nearly every American right now, especially the middle and working classes. Not every person grappling with these issues will file for bankruptcy—but the rising rate of filings suggests many Americans are. Bankruptcy is a powerful financial tool. Here are some signs you should consider filing for Increase.docxbankruptcy: 1. Legal and Collections Actions: If creditors are suing you, attempting to garnish your wages, or taking you to court to seize assets to pay back your debts, it may be time to file for bankruptcy. When you file for bankruptcy, you enter into the automatic stay period. During this time, your creditors are not allowed to move forward with legal actions against you. They must also stop all collection efforts until the end of your bankruptcy. 2. Foreclosure or repossession: If you are facing foreclosure, bankruptcy may be the best path to keeping your property. The automatic stay will also pause foreclosure proceedings, giving you time to determine how to keep your home. The same applies to vehicle repossession. Depending on what kind of bankruptcy you file, you can get caught up on your past due payments while still maintaining ownership of your property. 3. Increased Credit Card Debt: If you are using credit cards to pay for basic needs and carrying this debt from month to month, this is a sign that you are financially stretched beyond your means. When your budget cannot keep up with basic living expenses without going into debt, it may be time to consider bankruptcy. __ The big-picture causes of financial stress trickle down to individuals just trying to make ends meet. The cost of eggs at the grocery store is beyond your control, but it does affect your bottom line. If you are facing financial hardship, you have options. Bankruptcy is not a last resort. It can be a lifeline for individuals trying to pull themselves out of unmanageable debt. Vetiengruber Law is an experienced bankruptcy attorney in New Jersey. We have nearly two decades of experience helping NJ residents file for bankruptcy, manage their debt, fight foreclosure, and find a path towards a brighter financial future.

Americans are in debt. According to Experian data , the average American adult’s debt was $104,755 as of mid-2025, with Millennials and Gen X carrying the most debt out of all generational demographics. US credit card debt reached an all-time high of $1.28 trillion in the final quarter of 2025. We have also seen bankruptcy filings and foreclosures increasing throughout 2025 and into 2026. All this data points to a clear picture: Americans are struggling financially. Over the last decade, various debt-forgiveness proposals have been put forward by grassroots organizations, lawmakers, and economists. Some have focused on a single type of debt, such as student loan debt. Others have focused on specific demographics of debt holders, like the elderly. This kind of sweeping cancellation of debt is called a debt jubilee. Some experts believe the US is due for a general debt jubilee. But could it happen here? What is a debt jubilee? A debt jubilee is the cancellation of public or private debt in an effort to combat economic instability. The intention of the debt jubilee is to forgive specific debts for a large group of people, enabling a general economic restart. A debt jubilee has historical precedent, with governments and rulers throughout history enacting them to avoid economic or social crises. In fact, the idea of a debt jubilee goes all the way back to ancient Syria and Babylonia. The US has seen some debt forgiveness and relief efforts in recent years, including large-scale debt relief following the 2008 recession and during the COVID-19 pandemic. Still, many fear the consequences of total debt forgiveness. What kinds of debts would be forgiven with a debt jubilee? Proponents of a debt jubilee policy point to three major areas of debt relief: student debt, medical debt, and consumer debt. Student Loan Debt This is perhaps the most well-known and highly contested of all the proposed debt jubilee ideas. US student loan debt totals $1.78 trillion, with federal loan debt accounting for 92.1%. Student loan debt impacts 42.7 million Americans. During the COVID-19 pandemic and after, student loan repayments were paused. Payments resumed in October 2023, and defaulted loan collections resumed in May 2025. As of January 2026, wage garnishment letters began going out to borrowers in default. At the end of 2025, 5.5 million borrowers were reportedly in default on their federal student loans. Medical Debt Data from 2024 shows that 36% of US households carried medical debt, totaling $194 billion in active collections. Unpaid medical debt tends to be less damaging to credit reports than other kinds of defaulted debt, but it can still lower credit scores and hinder financing options. With rising health insurance costs, more middle- and working-class families are being priced out of medical care. Consumer Debt As stated above, US credit card debt reached its highest level in 2026. Inflation, high living costs, and incompatible income growth mean more Americans are using credit cards to pay for basic necessities. Of all credit card holders, 46 % carry a balance month to month. A debt jubilee in one or more of these areas could stimulate the economy, allowing consumers to spend less money on debt and more money on goods, entertainment, and services. Supporters of a debt jubilee also point to the opportunity for increased economic and social mobility, allowing individuals and families to build wealth and improve their quality of life—thereby limiting the need for social services. What are the criticisms of the debt jubilee? Critics of a debt jubilee argue that large-scale debt forgiveness would cause severe economic disruption. There is concern that widespread debt forgiveness could threaten many of our financial systems that rely on debt to function. For example, while a debt jubilee would help the poor, it could also destroy retirement assets for 401(k) holders whose investments are tied up in the system. Many detractors point to a potential moral hazard—they believe it will lead to increased irresponsible spending. They argue that debt forgiveness is unfair to those who have already paid off their debts. Still, the idea of a debt jubilee is thought-provoking. Proponents and critics alike can agree that the economic conditions in the USA are difficult enough that debt struggles are an issue for many American households. What are your thoughts on a debt jubilee? Veitengruber Law is an experienced NJ law firm focused on debt management, bankruptcy, foreclosure defense, and more. We work with people struggling with unmanageable debt. While a debt jubilee continues to be hotly debated on the national stage, we can help you find solutions to financial issues today.