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October 2014 Archives

Is debt settlement an alternative to bankruptcy?

At the end of last year, Americans carried nearly $11.63 trillion in personal debt. Sources indicate that the average amount of credit card debt is over $7,000. When the debt becomes overwhelming for New Jersey residents, several debt relief methods are available, such as debt settlement or bankruptcy.

Bankruptcy could be a solution for overwhelming debt

In 2012, the Network Branded Prepaid Card Association and the National Foundation for Credit Card Counseling conducted a survey that revealed that nearly four out of every 10 people in this country have credit card debt. Many of them struggle just to keep up with the minimum payments, if they can pay at all. For New Jersey residents who are drowning in credit card debt, a multitude of advice is available for paying off that debt, which may work for some people. However, others may need to find relief in the Bankruptcy Court.

New Jersey residents lured with promises to stop foreclosure

Years after the official end of the recession, many New Jersey residents are still facing the threat of losing their homes. Some homeowners became desperate enough between 2006 and 2009 to believe a company's promises to stop foreclosure. Recently, the architects of what federal officials believe was a lease buyback scam were arrested, which may leave many homeowners wondering what happens next.

Soaring medical debt may lead to more bankruptcy filings

Even as New Jersey residents continue to recover from the recession, the cost of living continues to rise. Even with the new health insurance policy, many people are still unable to pay for the rising cost of medical care. As the amount of medical debt increases, so may the number of bankruptcy filings.

Knowing the law can stop harassing phone calls from creditors

Being behind on the payment of debts can be overwhelming and stressful for any New Jersey resident. It does not help that debt collectors will use any number of tactics in addition to the numerous phone calls they make. Knowing the law can stop harassing phone calls from creditors.

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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
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West Caldwell, NJ 07006

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