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...
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...
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...
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...
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...
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...
