Auto accidents can shatter lives in countless ways. Many crash victims struggle from a physical point of view, whether they are seriously hurt, or they are suffering from a great deal of pain. The mental of an accident can be overwhelming too, and victims should not overlook the financial ramifications of a crash. In some instances, auto accident victims take on high levels of debt due to an accident. After all, with hospital bills, property damage and lost wages due to an injury, there are many reasons why traffic crashes can result in excessive debt. For some people, filing for bankruptcy can not only help eliminate accident-related debts, but help them recover from the crash in other ways.
At William H. Oliver, Jr. & Associates in New Jersey, our legal team understands that the language of Chapter 11 bankruptcy is unique. For example, you may wonder what it means to be a debtor in possession.