When someone is faced with foreclosure on top of an already intimidating amount of debt, it can be a time of understandable stress and uncertainty. Many New Jersey residents with large amounts of debt turn to personal bankruptcy as an answer to their financial...
Month: May 2012
How to successfully emerge from bankruptcy
New Jersey residents likely agree that not having to declare bankruptcy, and being financially stable, is the most ideal situation. Unfortunately, in a still-recovering economy, this is not a reality for everyone. Debt can accumulate from factors outside of your...
‘Octomom’ files for Chapter 7 bankruptcy, seeks fresh start
Nadya Suleman, likely better known to most New Jersey residents as the Octomom, has recently filed for bankruptcy. The mother of 14 has a mountain of debt to deal with -- about 20 times the amount of her assets -- that her Chapter 7 bankruptcy filing will work to cut...
Bankruptcy: New Jersey homeowners can stop foreclosure
While foreclosure rates are below what they were a year ago and have gone up just a bit from February to March, foreclosure is still a looming concern for many New Jersey homeowners. In March, there were 69,000 homes foreclosed upon in the United States -- 3,000 more...
Even in bankruptcy you have to pay your student loans
When one declares bankruptcy, the hope is that the majority of debt can be discharged or restructured in a way that helps a person regain financial footing. For most debt, including car loans, mortgage, credit card debt, medical debt, and even gambling debt, this is...