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July 2014 Archives

Unemployment rate could lead to more bankruptcy filings

The most recent data is showing that the number of people filing unemployment claims for the first time is down nationwide. However, here in New Jersey, that number rose an alarming 70 percent in one week. This influx of unemployed people in our state could cause a corresponding rise in bankruptcy filings over the next few months as it becomes more difficult for some people to pay their bills.

Bankruptcy protection may trump advice regarding debt relief

Credit card debt plagues a vast number of people around the country and here in New Jersey. At this point in our history, much of that debt was incurred during the recession when people used their credit cards to pay for the food they put on the table and the electricity that many used to cook it. There is a lot of advice available regarding how to reduce credit card debt, but it may not work for everyone. In many cases, bankruptcy might be a more useful option.

Homes in which owners were unable to stop foreclosure sit empty

The overall number of foreclosure filings may be dropping, and the housing market may be rebounding, but the mess left by the crash of the real estate market is still being cleaned up. Thousands of homes in which the homeowners were unable to stop foreclosure are sitting empty. These so-called "Zombie Foreclosures" have increased an astounding 58 percent in New Jersey in the last year.

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At the law offices of Minion & Sherman, our New Jersey bankruptcy attorneys have been providing families with real solutions for more than 20 years.

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West Caldwell Office
33 Clinton Road
Suite 105
West Caldwell, NJ 07006

Toll Free: 866-915-1839
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