Americans are increasingly relying on their credit cards to pay for a multitude of everyday expenses. For people who don't pay their credit card bills in full every month (approximately 43 percent of card holders), that means that they're paying far more than they...
Blog
oliverandlegg
Is deed in lieu of foreclosure an alternative for foreclosure?
New Jersey consumers who are facing foreclosure may wonder what their options might be. Some may consider a deed in lieu of foreclosure. There are both advantages and disadvantages to this option. Deeds in lieu of foreclosure are conveyances by which homeowners who...
What a 1099C can mean to your taxes after foreclosure
If your lender forecloses on your home or you sell it as a short sale (meaning you sell it for less than you owe the lender), the lender may forgive the unpaid balance on your mortgage. While forgiveness of unpaid debt may sound like a good thing, it may not at tax...
What are eligibility requirements to file Chapter 7 bankruptcy?
Not just anyone is entitled to file for Chapter 7 bankruptcy. Instead, it's necessary for you to meet established criteria to do so. If you happen to fall short in meeting those qualifications, a bankruptcy court trustee may allow you to convert your case to a Chapter...
Why is America’s credit card default rate rising?
It's the time of year when people's holiday spending is coming back to haunt them. Credit card bills reflecting our purchases of gifts, decorations and holiday party supplies are hitting our email in-boxes and mailboxes.Unfortunately, the S&P/Experian Consumer...
Foreclosure and repossession: How are they different?
If you're at the point where you can't keep up with your mortgage payments and are looking at the possibility of losing your home, you're going to be exposed to a number of terms you probably hadn't thought much about before -- or even heard. Two key ones are...
New Jersey residents’ debt often exceeds the national average
Researchers with the Urban Institute have determined that at least 28 percent of all New Jersey residents have bills that are so long overdue that they've been turned over to collections. While this statewide average is at least five percentage points lower than the...
Are you making the most of your credit card payments?
If one of your resolutions for 2018 is to pay down or even pay off your credit card balances, you should know that experts say there's a way to do it that will help you optimize your payments and ultimately lessen the interest you accrue. Of course, interest is a...
Future of New Jersey homeowner aid programs uncertain
New Jersey remains one of the hardest-hit states when it comes to home foreclosures. Nearly 68,000 properties are currently in foreclosure. In every month since Sept. 2015, our state has ranked first or second in the number of foreclosures filed.The foreclosure crisis...
Can bankruptcy be your best route out of debt?
If your resolution for the new year is to get out from under your debt, you may have considered and then quickly tossed aside the option of bankruptcy. Many people still view it as an admission of failure. They may be afraid of the potential ramifications on their...
