You can break consumer debts into categories. The first includes unsecured debt, like hospital bills not covered by insurance or the balances on your credit cards. The second category includes secured debts, which are financial obligations secured by collateral...
debt relief
Getting your credit score back up to speed
People facing financial hardship are still unjustifiably stereotyped at times. There is a common misconception that individuals only get into debt after they have spent recklessly. This could not be further from the truth. Millions of responsible and hard-working...
Student loans are hurting the economy
Student loan debt has skyrocketed over the last few decades, and it's causing all sorts of problems for borrowers. This starts with the fact that a lot of people are strapped with an incredible amount of debt as soon as they graduate, so not finding a good job...
Addressing common stereotypes around bankruptcy
The word bankruptcy is still often associated with negative connotations. It may be seen as some sort of failure or the result of financial carelessness. In reality, this is far from the truth. Many people across the country are struggling to pay their bills each...
What does the No Surprises Act do?
Medical debt is one of the leading causes of bankruptcy. Many of the people who become overwhelmed by medical debt have health insurance. However, even that isn’t always enough to protect Americans from losing all their savings and still owing money if they or a loved...
Can you plan to avoid debt?
Have you ever met someone who says they have never owned a credit card, never taken out loans and never spent more than they have? If they have never owed anyone money in their life, they have done well. Yet, unless you have a particularly high income, or inherited...
Can student loan debt get discharged in bankruptcy?
Consumers overwhelmed with debt in East Orange, New Jersey, may file for bankruptcy, a legal procedure to remove certain debts. There is a misconception that student loans cannot get discharged in bankruptcy. However, it is possible to get student debt discharged...
Dealing with medical bills
In New Jersey and around the country, medical treatment costs can skyrocket when you don’t have adequate health insurance. Even if you have insurance, their are deductibles that are often quite large and that you are responsible for. Despite being healthy, you still...
Student loan forgiveness is crucial for low income families
Many people in New Jersey and around the United States owe thousands of dollars in student loan debt. There have been talks among politicians that have included forgiving up to $50,000 worth of this debt. Student loan forgiveness is crucial for low-income families for...
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...