A recent study by CreditCards.com looked at the average credit card debt burdens of 25 major metropolitan areas. The study compared each city’s average credit card debt with the area’s median income in order to calculate how long it would take a person...
Blog
Month: July 2015
Important considerations before filing for Chapter 7 Bankruptcy
When contemplating bankruptcy, several concerns may arise. The first is usually what happens to my credit and finances once I file for bankruptcy. But one concern may be about the court process itself. If you’ve never been to court, or possibly even more so if...
Understanding wage garnishment
If you are struggling with debt and have been unable to pay your bills, creditors have ways to recover that money. One way to do so is with wage garnishment. If this occurs, your employer will be court-ordered to withhold a portion of your income until the debt is...
What is a “zombie foreclosure?”
When homeowners fall behind on their mortgages and they cannot pay the bills, two options tend to present themselves. One, they can file for bankruptcy and either modify the payment structure or liquidate the home's equity to avoid foreclosure. Or, they can accept the...
Marriage might add to a New Jersey couple’s financial challenges
Couples who recently tied the knot, or who are about to, could avoid a common cause of marital strife by having a frank and open discussion about the financial challenges that each of them brings to the relationship. One survey concluded that more than 40 percent of...
