When a New Jersey resident files for bankruptcy, something called an automatic stay is instituted. This means that as soon as the person filing for bankruptcy receives a case number, all creditor activity to collect a debt is required to stop. Notification of...
Personal Bankruptcy
Unemployment rate could lead to more bankruptcy filings
The most recent data is showing that the number of people filing unemployment claims for the first time is down nationwide. However, here in New Jersey, that number rose an alarming 70 percent in one week. This influx of unemployed people in our state could cause a...
Bankruptcy protection may trump advice regarding debt relief
Credit card debt plagues a vast number of people around the country and here in New Jersey. At this point in our history, much of that debt was incurred during the recession when people used their credit cards to pay for the food they put on the table and the...
How to stop harassing phone calls from creditors
Sometimes the first thing in the morning or the last thing at night that many New Jersey residents do is receive calls from creditors or debt collection agencies. Debt collectors can be relentless in their efforts to get individuals to pay. However, it is possible to...
Many bankruptcy filings are due to medical debt
Anyone in New Jersey who has been to a doctor recently, paid an insurance premium or obtained a prescription understands the rising costs of medical care in the United States. In fact, many bankruptcy filings are due to medical debt -- either directly or indirectly....
Stop harassing phone calls from creditors before they start
Financial advisers often recommend that college students here in New Jersey and around the country begin building their credit history by obtaining and using a credit card. Building a credit history may be important, but that goal could easily be sabotaged by misusing...
Stop harassing phone calls from creditors regarding medical debt
Numerous New Jersey residents have a significant amount of medical bills that they are unable to pay. One source suggests that one out of every three people in the United States has trouble paying medical debt. Many of these patients are looking for ways to stop...
Bankruptcy and credit card interest rates
Two main factors push the interest rates on credit cards up. The first is the fact that no asset secures the debt, and the second is the 2009 law limiting the amount of penalties companies can collect on delinquent balances. With interest rates soaring into the 21...
Debt collection scams can cause consumers to consider bankruptcy
They can be incredibly convincing. They have personal information that the consumer believes only a legitimate debt collector could know. Their tactics may even convince some New Jersey consumers to consider filing bankruptcy. The problem is that the person on the...
Is it possible to stay debt free after a bankruptcy?
When people get into trouble with their finances, it is through either a series of missteps or a catastrophic event. Many New Jersey residents file for bankruptcy in order to obtain a clean slate to start over financially. The question then becomes how to stay debt...