There are several avenues available in New Jersey to help those struggling with debt find a light at the end of the tunnel. Debt consolidation is one such avenue that can work for some people. However, it may not be the right thing for all, particularly if the debt is...
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Do you know what fees you’re paying on your credit card?
Credit cards can have many advantages if you choose the right ones and use them responsibly. With so many cards to choose from, you can select the ones that give you rewards, cash back or other benefits without annual fees. If you pay your card off in full each month,...
Should bankruptcy be a last resort?
Should bankruptcy be a last resort, after all other forms of debt relief has been tried?Sadly, many people believe this, trying debt consolidation schemes, dipping into retirement accounts and ways to solve debt problems before considering bankruptcy. Filing...
Are you a victim of lifestyle inflation?
If we're lucky, from the time we join the workforce until the time we retire, our income increases. With that comes lifestyle inflation. It's only natural at first that people will want to move out of their post-college studio apartment, sell their used car, invest in...
Options for tackling overwhelming credit card debt
American consumer debt rate has once again returned to pre-2008 levels and many find themselves once again encumbered by record-setting credit card debt. The first step in figuring out how to tackle it involves you sitting down will your bills, making note of your...
Second mortgage and the Chapters 7 and 13 differences
Many New Jersey homeowners have felt the pinch of the weak economy over the past decade. At times, they may have felt it was a one-step-forward-two-steps-back exercise in frustration. In some situations, bankruptcy may be the smarter choice over debt settlement or...
Deed in lieu of foreclosure may have expensive consequences
All too often, mortgage loan work-outs do not work out as planned, and a homeowner makes the tough decision to leave the home. Frequently, this is because the mortgage payments are not affordable and the owner has been unable to sell the home at a price that would pay...
How should businesses handle credit card debt?
Credit card debt typically has an association with individual people. However, it can also impact businesses that rely on credit cards to keep operations going smoothly. In 2015, there were nearly 14 million credit card accounts for small businesses in the United...
Watch out for the end of introductory rates
You've always heard about how credit cards have such insane interest rates. Then you get an offer in the mail for a card with a 0 percent introductory rate.You're tempted. Why not use it? You can make a big purchase, then pay it off slowly. It's the same as saving the...
An increasing number of those with student loan debt are seniors
If you're in your 30s and feel like you'll be paying off your student loan debt into your senior years, you may be right. Some 27 percent of those paying off their student loans are in their 60s or older. More than two-thirds of borrowers are paying off loans they...
