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February 2014 Archives

Filing for bankruptcy will not reduce New Jersey student loans

The majority of college graduates in New Jersey and nationwide leave their respective colleges and universities with something in addition to their diplomas -- student loan debt. Paying back those loans -- or not being able to pay them back as the case may be -- is a growing concern. This is due in part to the fact that student loans are not generally discharged in a bankruptcy.

Sometimes filing for bankruptcy is the best way out of debt

Advice columns in New Jersey and elsewhere recommend how to get out of debt. Unfortunately, many individuals' financial problems have gone beyond the otherwise good advice that many columnists provide, and bankruptcy may be the preferred way to responsibly deal with financial problems that have become unmanageable. Other consumers, however, find the advice helps them pay down or even eliminate their debt.

Medical bills: the number one reason to file for bankruptcy

New Jersey residents may not be surprised that the costs associated with health care are on the rise. Even people with insurance could be left with thousands of dollars in out-of-pocket medical expenses they cannot pay. For this reason, one government study puts medical bills at the top of the list of reasons why Americans file for bankruptcy.

Unpaid mortgage debt still plagues New Jersey homeowners

For some time now, New Jersey has held steady at being number two in the nation for home foreclosures. However, the state holding the number one spot is beginning to pick up the pace of finalizing foreclosure proceedings. This could mean that the amount of unpaid mortgage debt in New Jersey could cause the state to eventually lead the nation in foreclosures.


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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