${site.data.firmName}${SEMFirmNameAlt}
East Orange: 973-677-9000
Paterson: 973-247-9445
Jersey City: 201-659-6226
Toll Free: 888-827-5493
FREE Initial
Consultation Se Habla Espanol
Go to Practice Area Categories

June 2016 Archives

How effective is credit card debt forgiveness?

New Jersey consumers who are finding it difficult to maintain payments on their credit cards may be searching for effective ways in which to handle their dilemmas. In some circumstances, creditors may be accommodating about credit card debt forgiveness if they fear that the account holder may file for bankruptcy. However, one concern for the person owing the debt is the fact that forgiven debt is taxable.

Co-signing a loan may jeopardize the ability to protect assets

Out of concern, sympathy or love, some New Jersey people agree to co-sign a child or other family member's loan. While such an action can be admirable, it is not necessarily smart. Many parents have failed to protect assets after co-signing a child's student or car loan. Knowing that a co-signer typically has a stronger financial standing, creditors tend to go after them rather than the primary borrower.

Credit card debt can be resolved through bankruptcy

Many New Jersey consumers likely know that getting into debt is a whole lot easier than getting out of debt. Although there are ways to get out of debt, the level of indebtedness will determine how drastic the required steps will be. Those who are drowning in credit card debt may be seeking the quickest way to get back on track.

The nation's high credit card debt not necessarily a bad sign

An authoritative person at a wealth management company recently reported that she does not envisage a similar credit crunch as was experienced by consumers in New Jersey and across the country in 2008. She thinks this despite the fact that national credit card debt will likely reach $1 trillion later this year. The last time it was at that level was just before the heating up of the financial crisis eight years ago.

Is bankruptcy the appropriate remedy for your financial dilemma?

It is not uncommon for New Jersey consumers who are buried under mountains of debt to consider the most appropriate manners in which to remedy their situations. One option that deserves consideration is bankruptcy, as this is the only solution that also offers the filer protection. Before filing for bankruptcy, the process deserves careful consideration. 

PRACTICE AREA CATEGORIES

Tell Us About Your Case

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

PROFESSIONAL ASSOCIATIONS

  • NACBA | National Association of Consumer Bankruptcy Attorneys
  • NACA | National Association of Consumer Advocates
Review Us
Goldman & Beslow, LLC

Goldman & Beslow, LLC is a Federal Debt Relief Agency by an Act of Congress. We have proudly assisted consumers seeking relief under the U.S. Bankruptcy Code for over 38 years.

FindLaw Network

qr code

EAST ORANGE
OFFICE
7 Glenwood Avenue,
Suite 311B
East Orange, NJ 07017
East Orange Law Office

Phone: 973-414-8069
Phone: 973-419-7631
Phone: 973-419-5266
Phone: 201-205-2496
Toll Free: 888-827-5493
Fax: 973-675-5886
E-mail the firm

NEWARK OFFICE 168 Bloomfield Avenue
Newark, NJ 07104
Newark Law Office

Phone: 973-483-1333
Phone: 973-419-5266
Phone: 201-205-2496
Toll Free: 888-827-5493
E-mail the firm

PATERSON OFFICE 100 Hamilton Plaza,
Suite 405
Paterson, NJ 07510
Paterson Law Office

Phone: 973-247-9445
Phone: 973-419-5266
Phone: 201-205-2496
Toll Free: 888-827-5493
E-mail the firm

JERSEY CITY OFFICE 26 Journal Square,
Suite 603
Jersey City, NJ 07306
Jersey City Law Office

Phone: 201-659-6226
Phone: 973-419-5266
Phone: 201-205-2496
Toll Free: 888-827-5493
E-mail the firm

Back to Top