Filing for bankruptcy may allow you as a New Jersey resident to eliminate medical bills, a credit card balance or other financial obligations. However, doing so can also make it harder to qualify for a mortgage. In fact, you will have to wait at least a year after...
If you fail to pay a New Jersey creditor, government entity or any other party in a timely manner, your wages may be garnished. However, it may be possible to put a temporary end to the garnishment by filing for bankruptcy. Generally speaking, a garnishment cannot...
People in New Jersey going through a Chapter 13 bankruptcy still need to drive to work, school and family events. During the course of your bankruptcy proceedings, you may need to purchase a new car and want to finance the purchase through a car loan. However, you may...
In New Jersey and around the country, some people choose to file for Chapter 13 bankruptcy to restructure their debts and repay a portion of what they owe through court-approved plans before receiving discharges of their remaining unsecured debt balances. While...
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...
Many people have more compassion for other people than they do for themselves. When a friend or loved one tells you that they are going through personal bankruptcy to get out of debt, you may agree that it was a wise decision. But if you ever find yourself in a...
Before people struggling with debt in New Jersey go forward with a bankruptcy, they typically want to know what the long-term effect of that action will be. Although bankruptcies present a negative item on people's credit histories, they still have opportunities to...
According to a report from Clever Real Estate, Americans have twice as much credit card debt as they did in 2000. Households in New Jersey and throughout America have an average of $31,420 worth of debt, which is more than the average American salary in 1950. In that...
Bankruptcy was once rare among older adults, but now people 65 and older account for 12% of personal bankruptcies compared to just 2% in 1991. Medical debts produce much of the financial hardship among older people in New Jersey as they grapple with dwindling incomes...
People living in New Jersey and around the country are sometimes contacted by debt collectors regarding very old accounts. In many cases, this kind of contact is legal, but it does not mean that the debt is valid or that the debtor is at risk of a lawsuit or other...
