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January 2012 Archives

Foreclosures drop in New Jersey: Is it a calm before the storm?

The good news is that foreclosure filings in New Jersey dropped by a whopping 73 percent in 2011. While some may see that as evidence of an improving economy, others say it is simply the calm before the storm. Much of the statistical findings about this debt struggle revolve around what is described as a dysfunctional foreclosure process, with lenders relying on improper and sometimes even falsified documentation to repossess property. Those issues have had greater effects in states, like New Jersey, that rely upon the courts for resolution of mortgage disputes. That has led to delays throughout the state to the point where the average foreclosure takes about two and a half years to complete.

2011 records 34 percent drop in foreclosures from 2010

As New Jersey residents know, a poor economy often leads people into financial turmoil. In the most recent recession, many people lost their jobs. Not only that, but the housing market struggled as well. Both of these factors can force many people into serious debt.

Does the poor economy mean less air hockey?

From time to time, everyone enjoys a good recreational game of air hockey, ping-pong or horseshoe. However, as the economy continues to suffer, the need to invest in a good table game for your basement is just not that important. Recently, the financial woes have hampered more than just unemployed individuals - local businesses, too. Sportcraft, a company that is based in the Budd Lake section of Mount Olive, New Jersey, and maintains an office China, is a maker of recreational sports equipment. Recently, this local business filed for bankruptcy in the United States Bankruptcy Court of New Jersey.

New Year brings tally of worst consumer complaints in New Jersey

Now that 2011 has come to a close and 2012 is in full swing, many people are taking the time to reflect on the past year and the lessons they learned. Although most of us may think about things like hitting the gym more often or eating more veggies, a recent article from the Star-Ledger offered up a composition of consumer complaints that many New Jersey residents can learn from. The most common issues, it turns out, were rooted in economic troubles.


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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