For many people, spending can get out of control, and the credit card debt can sneak up on you. Even if you don't have a big vacation planned, day trips to the beach, summer blockbuster movies, dining out, weddings (with the obligatory presents), tennis lessons for...
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Dealing with the emotions from a bankruptcy
Bankruptcy is designed to help a person start over after a financial devastation, but the reality is that many people who file bankruptcy often feel as if it is a moral failure. Emotions can range from embarrassment to depression. Some even resort to suicide rather...
How can I avoid having my home foreclosed on?
If you're struggling to pay your mortgage, you might find some solace in knowing that you're not alone. Each day, countless homeowners face that same dilemma.While you might like to ignore the collection calls, you can't. Not only do you need to have somewhere to...
New Jersey leads the nation in percentage of foreclosures
Residential foreclosure rates have generally dropped to below what they were prior to the recession a decade ago, and they are continuing to fall. However, the good news doesn't extend to all states, including New Jersey.On average nationwide in March of this year,...
Can bankruptcy relieve me from alimony payments?
If you find that your alimony payments are more than you can handle financially, it may be tempting to consider bankruptcy as a way to avoid them. However, that's probably not the best choice.It's essential first to understand the difference between Chapter 7 and...
Private student loans and bankruptcy: Two good things to know
You may have heard that it is nearly impossible to get student loans discharged in bankruptcy proceedings. Generally, this is true, and there are more repayment options with federal loans.However, private loans still come with wiggle room. Read on to find out more....
Why are more seniors overwhelmed by credit card debt?
Credit card debt is not simply a problem for young or even middle-age people. Increasingly, seniors are carrying large amounts of credit card debt. Moreover, they have challenges for paying it off that younger people may not, particularly if they're already...
Should I file bankruptcy over medical debt?
Unpaid medical bills from an accident or illness that wind up in collection can really tank an otherwise adequate credit score. Consumers can avoid fiscal disaster by remaining proactive about their finances.Make sure that you examine and thoroughly read your monthly...
Should you put your emergency fund toward your debt?
You have been saving up an emergency fund. It's taken you a few years, but you've slowly put money away and now you have $10,000 in the bank.However, you also have $10,000 on your credit cards. You're wondering if it's better to have that emergency fund and your debt,...
Foreclosure versus short sale: weighing the ramifications
If you can no longer afford to pay the mortgage on your home, you may be weighing the consequences of proceeding with either foreclosure or a short sale. Before you commit to one course of action or the other, consider the process involved and the tax implications of...
