You Deserve A Fresh Start
Many New Jersey consumers who are overwhelmed by their financial obligations file for bankruptcy to obtain some debt relief. After discharge, many of them have the goal of rebuilding their credit. While it's possible to do so, getting credit cards can get tricky after...
Bankruptcy is a legal process that discharges certain debts, and the debtor no longer owes it. Homeowners in East Orange, New Jersey, with delinquent mortgages may have bankruptcy as an option to relieve them of debt. Defaulting on mortgages Some lenders may...
When you file for bankruptcy in New Jersey, you'll find that not all debts are alike. The court will divide your debt into two categories: priority debts and non-priority debts. You may not be able to discharge all these debts, but the court might evaluate them and...
Wage garnishment is when the judicial system orders for a certain portion of your wages to go to a creditor you owe. Your employer takes the money out of your paycheck to ensure that you pay the debt. Most creditors must go through a legal process before they can...
Bankruptcy represents a chance for debtors to start over. It's an important tool that individuals and businesses can use when they are underwater and unsure of how to get back to solvency. People in New Jersey who are considering bankruptcy should be aware that there...
When New Jersey consumers fall behind on credit card bills, they may get calls from the issuer. The Fair Debt Collection Act prohibits them from abusing the system, but not collecting the debt. There are some laws in place that protect consumers from getting sued by...
One key factor that researchers tend to use when assessing credit card debt is the age of the debt holder. By understanding which age groups possess the most amount of credit card debt, credit counseling professionals in New Jersey can better assist individuals in...
One of the primary benefits to filing for bankruptcy in New Jersey is receiving an automatic stay of creditor collection activities. As a general rule, credit card companies, mortgage lenders and government agencies must put a stop to wage garnishment or planned...
Filing for bankruptcy in New Jersey doesn't mean that you have to lose everything. However, you should be prepared to give up some of your non-exempt assets. If a judge rules that you can live without it, a trustee might sell it to pay off your debts. What is...
New Jersey residents who wish to file a Chapter 7 bankruptcy must first pass a means test. Lawmakers introduced the means test in 2005 when they passed the Bankruptcy Abuse Prevention and Consumer Protection Act. Individuals who cannot pass the means test can seek...
