If you own a small business in New Jersey, you may know firsthand the challenges of money management. Financial decisions require a lot of forethought and careful planning to prevent missteps. When overwhelming debt threatens your operations, you may resort to...
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What do you know about foreclosure scams?
While going through hard financial times, you may try anything to dig yourself out of a quagmire. If you face foreclosure, do you know how criminals could try to take advantage of you? The National Foundation for Credit Counseling explores foreclosure scams. Learn the...
What is a means test?
Individuals who find themselves over their heads with debt may find that Chapter 7 bankruptcy is one way to handle their money issues; however, before the process can begin, they must pass a means test. Credit Karma notes that this test measures whether someone...
Tips for moving forward after Chapter 13
Bankruptcy is a legal option that offers financial relief for New Jersey residents. If you have overwhelming debt, Chapter 13 provides a way to deal with it on your terms. Many people wait too long before taking action due to the effect bankruptcy has on their credit....
Looking at the benefits and disadvantages of an automatic stay
Perhaps you are dealing with nonstop harassment from creditors seeking payments from you and you want this situation to end. If you have decided to declare bankruptcy, keep in mind that as soon as you file, you release the power of the automatic stay. However, along...
How long may it take to foreclose on a property in New Jersey?
As outlined by the Consumer Financial Protection Bureau, federal law prohibits mortgage lenders from initiating a foreclosure unless you failed to make a payment for at least 120 days. As noted by the National Consumer Law Center, however, new and possibly short-term...
How can you restore your financial reserve after bankruptcy?
Bankruptcy can help you reduce your debt and reorganize your finances. With a new lease on financial independence, you may want to look for ways to maintain freedom from debt. Rebuilding your financial reserve will take time. You will need to commit to establishing...
How should you renegotiate debt for your business?
Operating a business can affect your personal finances, especially if you put a lot of your savings into starting your company. If you run out of money or cannot pay back creditors, you may need to file for bankruptcy protection. As part of the process, you may have...
3 advantages of Chapter 13 bankruptcy
Bankruptcy in general offers you a lot of advantages. For example, once you file, collection actions against you stop immediately due to the automatic stay. Depending on your financial situation, you may have several bankruptcy options available to you. Chapter 13 is...
Your debt-to-income ratio and your future financial success
Owning a home is one of the more effective ways to achieve financial security. After all, you can probably expect your house to appreciate in value over time, allowing you to borrow against its equity. You may also be able to sell the house in the future for a large...
