debt relief Archives

What is the best way to pay off credit card debt?

If you have credit card debt, you are not alone. Many other people in New Jersey struggle with this same issue. If you want to get it under control, then you need to create a plan to pay it off. There are many ways you can do this, but there are two methods that are most commonly used. Credit.com explains that people either pay off the highest interest rate cards first or pay off the smaller balances first to get rid of credit card debt.

How do I deal with my creditors?

If your phone is ringing nonstop and you are tired of having to silence it, it might be time for you to stop hiding, answer it and deal with your creditors. Though you might not believe you can do so without making things worse, there is a wrong and right way to deal with them to keep things from getting worse.

Can reorganization save your business from bankruptcy?

You have worked hard to take your New Jersey company from a simple business idea to a well-known brand that is respected and sought-after by enthusiastic consumers. However, you are realizing that maintaining that type of success can be hard to come by with a fluctuating economy and changes in the demand for your product. Now that your company is struggling financially, you may be wondering if there are any options that can help save your organization from having to file for bankruptcy. 

How do I know when it is time to file for bankruptcy?

If creditors are calling your phone nonstop and your mailbox is full of bills, there is no doubt that you probably feel stressed and frustrated by your financial situation. It is not that you do not want to pay your debts. You cannot give them money you do not have. Before you throw in the towel and file for bankruptcy, consider the following information first. 

What is a Chapter 11 bankruptcy?

If you own a New Jersey business that is failing due to too much debt and not enough profit, you and it may be a candidate for a Chapter 11 small business bankruptcy. As FindLaw explains, you qualify if you employ no more than 500 people and your business has less than $2.19 million in debt.

How to overcome the shame of credit card debt

If you are struggling to deal with a huge amount of credit card debt, you might find yourself wondering what you can do. You might also feel ashamed that you let your debt spiral out of control. Credit card debt is a common problem for many households in the East Orange area. According to Yahoo, $15,654 is the average amount of credit card debt per household in 2017. As challenging as it may seem for you to make timely payments and lower your debt, there are options that you might not be aware of. 

How Can I Create a Budget?

If you’re in search of debt relief options in New Jersey, you should know that budgeting is integral to remaining fiscally sound. After all, once you’ve paid off your debts and are back on track financially, you run the risk of falling into the same trap if you don’t correct irresponsible behavior. That’s why Forbes recommends the following tips to people who find it hard to stick to a reasonable budget.

Rebuild your credit foundation after bankruptcy

If you've recently gone through a debt relief process, such as bankruptcy, it may take some time before you feel like your head is clearly above water again, financially-speaking. Remember that you are definitely not the first person, nor will you be the last, to encounter a temporary financial setback in life. There are several proactive steps you can take to begin rebuilding your financial foundation, especially your credit score.

Are you one misfortune away from financial disaster?

You may have had rough patches in the past, but you were always able to stay on top of your finances. However, lately, you may feel your budget is a little tighter. Your paycheck doesn't seem to stretch as far as it used to. Perhaps you are starting to get notices that payments are late on a credit card or even your mortgage.

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