The biggest difference between Chapter 7 and Chapter 13 bankruptcy is that in Chapter 13 you repay your debts based on the bankruptcy plan. If you file Chapter 13 in New Jersey, you may wonder how the court creates the repayment plan. There are a few considerations the court makes when developing your plan to ensure fairness to your creditors and to you.
Running a business can be very difficult. Whether you are just starting out or have a large company, sometimes all it takes in a downturn in sales to cause financial trouble. Recently, the news has been filled with huge, national companies filing bankruptcy due to low sales. Keeping a business afloat can be a hard job requiring a lot of work, but in some cases, no matter how hard you work, your business still may face bankruptcy. Accoridng to the United States Courts, you have two general options: Chapter 7 or Chapter 13.
If you struggle with debt, you may face a time when your house goes into foreclosure. One missed payment can start the process. In New Jersey, your foreclosure is made public, which means you become subject to scammers who want to try to take advantage of you. According to USA.gov, you may come across foreclosure scams in advertisements or through direct contact. These scams involve making big promises but delivering nothing.
Have you ever noticed that your financial status changes along with the ever-changing events of your daily life? While the mainstream of your finances may stay the same, such as earning the same income at the same job for many years, circumstances surrounding your day-to-day situation may change, thus causing economic changes, which you may or may not be prepared to handle.
If you are looking to exert tighter control over your expenses, it is a good idea to watch out for the latest trends in American spending that are adding to people’s personal debts. In its yearly analysis of household debt for the United States, Nerdwallet discovered Americans wrestled with a number of particular expenses in the year 2018. These expenses generally outpaced the median income of Americans and are something New Jersey residents should watch out for.
If you are facing foreclosure on your home in New Jersey, you have a lot more to worry about than losing your home. There are scammers out there who prey on people like you. They make big offers and in the end, only manage to steal your money, leaving you in sometimes worse shape than before. According to USA.gov, these scammers gather your information from public foreclosure postings. They may contact you directly in many cases, pretending to be a professional who can help you avoid foreclosure.