July 2018 Archives

Can debt consolidation work for me?

Unfortunately, it is not difficult to get into a situation where you have more debt than you can handle. People end up in this same situation every day in New Jersey. How you handle it can make the difference between reviving your credit and ruining it, though. One option is called debt consolidation, which Experian explains is when you use a loan to put all your debt into one account with one monthly payment.

Bankruptcy, debt consolidation or debt settlement -- what to do?

Are you one of the many New Jersey residents who is struggling financially? If you have a large amount of debt, getting rid of it as soon as possible would grant you and your family some relief. What is the best way to go about eliminating debt? Bankruptcy, debt consolidation or debt settlement?

How can delaying filing for bankruptcy harm me?

Bankruptcy is such a dreaded concept for some people that they will do all they can to avoid filing for it. However, even if going through Chapter 7 bankruptcy makes it harder in the future to apply for New Jersey loans or mortgages, delaying bankruptcy is often a worse option. Not only does delaying bankruptcy not improve your financial state, it can make things worse for you.

What property can I keep after a bankruptcy?

There are many different types of protected property that you could be able to keep after certain types of New Jersey bankruptcy, especially chapter 13. For example, you might be able to keep your car or your home. However, your situation is likely to require an exacting analysis to maximize asset retention while still appeasing your creditors.

Is filing Chapter 13 better than Chapter 7?

Filing any type of bankruptcy is best avoided if at all possible, but if you find yourself in a bad situation where bankruptcy is the only option, then you may have no choice. The next consideration you have to make is which type of bankruptcy to file. There are good and bad points to filing both Chapter 7 and Chapter 13, but you may find filing Chapter 13 is better in the long run.

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