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...
Year: 2014
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...
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...
New Jersey’s poverty rate may lead to more bankruptcy filings
Newly released census data indicates that 998,549 people in New Jersey are living at or below the poverty rate last year. The 11.4 percent poverty rate makes the state one of three that experienced an increase. This could mean more people will file for bankruptcy....
Credit card issues that can lead to bankruptcy
It can be easy to get into trouble with credit cards. In many cases, the recession put many New Jersey residents in the position of having to use their credit cards in order to stay afloat. Even if your financial situation has improved, the debts created during a...
Qualifying for a Chapter 13 bankruptcy
When a New Jersey resident decides to file for bankruptcy, the next step is to determine what type of bankruptcy to file. Consumers most often file either Chapter 7 or Chapter 13. Both chapters have certain requirements, which often help make the decision of which to...
New Jersey residents still dealing with unpaid mortgage debt
Even though it has been several years since the housing market crashed, new foreclosures are still being filed here in New Jersey. Homeowners who may still be dealing with unpaid mortgage debt and facing foreclosure are filing some papers of their own. Homeowners seem...
Filing for Chapter 7 bankruptcy in New Jersey
Having a rudimentary understanding of what will happen during a Chapter 7 bankruptcy can help eliminate any hesitation or discomfort New Jersey residents may have with the process. Filing for bankruptcy can be unsettling enough, but not knowing how it works can make...
You can stop harassing phone calls from creditors
Many New Jersey residents find themselves dealing with more debt than they can handle through no fault of their own. For some reason, debt collectors seem to think that harassing people who are already stressed -- and whose finances are stretched to the limit -- will...
How to complete credit counseling after bankruptcy
Now that you have decided to file for bankruptcy in New Jersey, there are certain requirements that must be met before you can receive a discharge. One of these requirements is credit counseling. This may sound complicated, but, fortunately, the procss can be made...