Minion & Sherman
Call Us Today for a Free Confidential Consultation
973-559-5791

July 2015 Archives

Qualifying for a loan modification could increase debt problems

As many New Jersey homeowners continue to struggle to keep their homes, some are hanging their hopes on a loan modification. However, qualifying for this type of mortgage debt relief could actually make a homeowner's financial situation worse. This is because many loan modifications are not offered to borrowers until the situation is dire.

JPMorgan settlement may not keep some from Chapter 7

JPMorgan recently came to a settlement regarding its credit card debt collection practices. Even though some consumers may receive restitution as a result, it could be too late for some New Jersey residents whose credit has been ruined by illegal debt collection practices. For them, filing for Chapter 7 bankruptcy could put a stop to any further damage and provide a fresh start financially.

Bill aims to stop foreclosure for Sandy victims for 3 years

The effects of Hurricane Sandy continue to plague New Jersey homeowners. Many are still not back in their homes and constantly face the threat of foreclosure. A new bill making its way through the state legislature aims to stop foreclosure proceedings for Sandy victims for three years while people work to rebuild their homes.

Changes in medical billing may not prevent bankruptcy for some

Any New Jersey resident who has been to a doctor understands how confusing, complicated and frustrating the medical billing process can be. Even though changes are on the horizon regarding how medical bills are reported to the credit bureaus, it may not be enough for some people. Filing for bankruptcy could help many patients clear the slate and give them a fresh financial start.

Music producer says bad choices led to Chapter 7 filing

New Jersey hip-hop fans may recognize the name Scott Storch, who has worked with artists such as Beyonce, Justin Timberlake and Dr. Dre. At the height of his career, he was worth an estimated $70 million. He admits that bad financial choices led to his need to file for Chapter 7 bankruptcy.

Second mortgage may not be canceled in Chapter 7 bankruptcy

New Jersey homeowners may need to be aware that the U.S. Supreme Court recently ruled that a second mortgage on the filer's residence may not be considered an unsecured debt and be discharged in a Chapter 7 bankruptcy. Even if the value of the home is less than the first mortgage, the second lien will not automatically be stripped. The case originated after Bank of America insisted that the second lien of a Chapter 7 filer remain intact, even if the bank will not receive any proceeds from the sale of the home.

Articles

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

Email Us For A Response

Contact Us Today for a Free Consultation

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

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

Toll Free: 866-915-1839
Phone: 973-559-5791
Fax: 973-882-0856
Map & Directions

Newark Office
201 Washington Street
Newark, NJ 07102

Toll Free: 866-915-1839
Phone: 973-559-5791
Fax: 973-882-0856
Map & Directions