Saving money in order to file for bankruptcy probably sounds strange to some people. Saving money implies that one has money, and therefore wouldn't need to file for bankruptcy. However, in recent years, filing fees and related costs for filing a bankruptcy in New Jersey and throughout the country have risen due to legislative changes, and some individuals have deferred filing for protection until they can afford the fees associated with it.
Homeowners who faced foreclosure in 2009 or 2010 may be eligible for a review to determine if their foreclosure was unlawful or if they were charged with excessive fees. More than 4 million foreclosure cases nationwide could be eligible for this review.
There are a lot of reports out there on the housing market and it appears that the foreclosure crisis is subsiding, but some experts feel that there are other factors that need to be considered that are still affecting the housing market.
For those facing an unmanageable amount of debt, life can be very stressful. While many people view it as an extreme option, bankruptcy may be the best way to get their lives and finances back on track. One New Jersey politician made the decision to file for bankruptcy when she lost her home to foreclosure and found herself buried under seemingly insurmountable debt.