Politics & Government

Creditors File to Force Assemblyman Schroeder Into Bankruptcy

Three creditors have filed a petition to put Robert Schroeder into an involuntary bankruptcy.

State Assemblyman Robert Schroeder may be forced into bankruptcy.

Three creditors — Quincy Wong and Nicolas Bedural of Mahwah and Joseph Marra of Brick — filed a petition in U.S. Bankruptcy Court in Newark Thursday to force Schroeder, of Washington Township, into involuntary Chapter 7 bankruptcy.

Under bankruptcy code, a person can be involuntarily forced into bankruptcy if they have 12 or more creditors, and at least three of those creditors with claims totalling at least $14,425 file a petition.

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Neither Schroeder nor the creditors could be immediately reached for comment.

He has 21 days to contest the petition.

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Schroeder has been the target of numerous lawsuits over the past year for money he has allegedly owed. Judgments against Schroeder have already totaled more than $13 million.

He was also indicted in December on charges that he allegedly stole $1.4 million from investors for a housing project and used the money for personal expenses and also allegedly wrote at least 47 bad checks for loan payments worth $3.4 million.

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