Many people think that filing for bankruptcy is one of the best ways to erase all debt and start over financially. However, there are certain debts that will not be forgiven, even if you file for Chapter 7 bankruptcy. Before you decide whether filing for Chapter 7...
The powers of the automatic stay and the relief it provides
Personal bankruptcy protections can help struggling consumers in many different ways. One way that personal bankruptcy protections can provide relief to filing parties is through the automatic stay that halts creditor collection actions during the bankruptcy process....
Medical debt in the U.S. is greater than previously thought
When a person in New Jersey is seriously ill, as many have been in the past year, they may want to focus on simply regaining their health. Unfortunately, part of regaining their health may be attending many doctor’s appointments, undergoing testing or perhaps even...
How can bankruptcy help me protect my home?
One of the scariest things about facing financial problems is the prospect of losing one’s home. If a New Jersey family falls behind in its house payments, even if it is because of difficult circumstances, most lenders will not hesitate to start the foreclosure...
Cancellation of student loan debt part of larger debt picture
Debt wears attire for every occasion. Unfortunately, lenders and creditors – not unlike guests at a reception – find it most valuable when its least appealing. The federal government may extend another set of clothes to those with student-loan debt. Modifications to...
Choosing between Chapter 7 and Chapter 13 bankruptcy
It is common for people living in New Jersey to have some debt. People may own a home and have a mortgage, they may have car loans, medical bills, credit cards, personal loans and other forms of debt. This by itself is not a bad thing and in some situations can in...
Three tips for rebuilding credit following bankruptcy
Unexpected problems, such as a sever illness or job loss can cause a person in New Jersey to suffer significant financial hardship. They may simply have no means to pay their debts. In such situations, they may choose to file for bankruptcy, but they may be concerned...
Can personal bankruptcy eliminate student loan debt?
Student loan debt is a significant problem for many New Jersey residents. Individuals sign loans for thousands of dollars in educational support only to struggle later to find jobs so that they can begin to pay down their debts. When their ability to pay their student...
Chapter 7 bankruptcy may allow people to rid themselves of debt
People in New Jersey have many different bills that they need to pay and many different items that they purchase. Their bills and purchases are usually made based on what they can afford. This true whether they are buying something outright or buying it with credit...
Three common misconceptions about bankruptcy
If you are struggling with overdue bills and threats of wage garnishment, repossession and other creditor actions, you may have considered filing for bankruptcy. Before making a decision that will affect your financial future, it is important to understand the law and...
