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When New Jersey consumers fall behind on credit card bills, they may get calls from the issuer. The Fair Debt Collection Act prohibits them from abusing the system, but not collecting the debt. There are some laws in place that protect consumers from getting sued by...
One key factor that researchers tend to use when assessing credit card debt is the age of the debt holder. By understanding which age groups possess the most amount of credit card debt, credit counseling professionals in New Jersey can better assist individuals in...
One of the primary benefits to filing for bankruptcy in New Jersey is receiving an automatic stay of creditor collection activities. As a general rule, credit card companies, mortgage lenders and government agencies must put a stop to wage garnishment or planned...
Filing for bankruptcy in New Jersey doesn't mean that you have to lose everything. However, you should be prepared to give up some of your non-exempt assets. If a judge rules that you can live without it, a trustee might sell it to pay off your debts. What is...
New Jersey residents who wish to file a Chapter 7 bankruptcy must first pass a means test. Lawmakers introduced the means test in 2005 when they passed the Bankruptcy Abuse Prevention and Consumer Protection Act. Individuals who cannot pass the means test can seek...
Bankruptcy helps debtors in New Jersey get out of debt they can no longer handle. Debtors have the option of filing several types of bankruptcy, the most common being Chapter 7 and Chapter 13. Chapter 7 absolves filers of the most debt, but not all debts can be...
Many people in New Jersey struggle to cover their credit card payments. When times get tough financially, it can be difficult to continue making payments on time or even at all. If you feel that you might not be able to pay everything off, there may be another way you...
Filing for bankruptcy may have negative consequences for your credit score and overall creditworthiness. However, it may be possible to purchase a home in New Jersey in as little as a year after the discharge of your case. Let's take a closer look at some potential...
Medical debt is often accrued when people need healthcare services but are unable to pay for out-of-pocket costs associated with their care. Such debt can make it very difficult for individuals in New Jersey and elsewhere to reach their financial goals. Nevertheless,...
If you're struggling to stay current on a mortgage, it's a good idea to contact your New Jersey lender right away. Doing so may prevent you from defaulting on the loan. However, if a default is unavoidable, it is important to understand the negative consequences that...
