New Jersey consumers who find themselves with mountains of debts may be overwhelmed by the many suggestions by friends and family who are eager to give advice on how to remedy the situation. One of the options -- and possibly the most effective one -- is personal...
Year: 2015
Chapter 7 bankruptcy might give you a fresh start financially
New Jersey residents encounter financial difficulties from a variety of sources. Some are recovering financially from divorce, long-term illnesses or injuries, or some other life-altering calamities that end up leading to an overwhelming amount of debt. Others simply...
You do not have to go it alone when filing for bankruptcy
Being overwhelmed by debt can cause a great deal of stress, fear and anxiety. Those feelings may be alleviated by making the decision that filing for bankruptcy in New Jersey is your best option. However, the process is paper intensive and complex, which may only...
Filing for bankruptcy while on Social Security
The days of retiring debt free are long gone for many of New Jersey's elderly residents. Now, many worry that their Social Security benefits will be garnished in order to pay their debts. Those benefits may be safe from some creditors, but not all. Filing for...
Some debts are treated differently in a Chapter 13 bankruptcy
When a New Jersey resident files for bankruptcy, the first step is to determine under which Chapter to file. This decision is often less about the individual's preference since income level often drives that choice. If a person's income is above a certain level, he or...
Overwhelmed by debt? Filing for bankruptcy may be the answer
New Jersey's economic landscape remains in a state of flux -- mostly thanks to Super Storm Sandy and the crash of the housing market. Hard working residents struggle every day just to keep their heads above water. Filing for either Chapter 7 or Chapter 13 bankruptcy...
There is life after bankruptcy for New Jersey residents
Some New Jersey residents avoid filing for bankruptcy because they believe that it will completely destroy their credit. However, continuing to struggle with overwhelming debt that they are unable to pay will only make matters worse. There is life after bankruptcy,...
Student loans could cause lots of Americans to file bankruptcy
To be clear, student loans are nearly impossible to discharge in a bankruptcy. However, the ability to repay them could be hampered by other debts a New Jersey resident incurs. Therefore, having those debts discharged in a bankruptcy could free up the necessary income...
Making the decision regarding what type of bankruptcy to file
New Jersey residents who are struggling with financial problems may decide to file bankruptcy. Before filing, however, it may be beneficial to understand what to expect regarding the process and the fate of certain assets and debts. This information could help in...
Debt collectors can be used to prepare for bankruptcy
New Jersey residents who are having financial issues do not need the added stress that debt collectors induce through harassing phone calls and letters. However, if someone is preparing to file for bankruptcy, debt collectors can be a valuable source of information....