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...
Month: May 2021
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What is a priority vs. non-priority debt?
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...
What are the limits on wage garnishment?
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...