Individuals facing overwhelming mortgage payments may be able to avoid foreclosure through loan modification. However, convincing a lender to change mortgage terms can be difficult. Many scammers know this and try to profit from homeowners’ desperation by offering a...
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Debt Relief
What you should know about mortgage loan modifications
Many people who face bankruptcy also face mortgage foreclosures. Although some bankruptcy options allow you to save your home, you are still responsible for paying your mortgage every month. However, if you still cannot pay your mortgage payment, you may have another...
What to know about private vs. federal student loans
In addition to scholarships and grants, loans are a way for students to help fund their undergraduate or graduate education. Although education is an excellent investment, students and parents still need to be careful to avoid taking on too much student debt. Many...
How does filing for bankruptcy protect you?
Many people tend to think of bankruptcy as a last-gasp measure when they are overwhelmed by massive debt with little hope of meeting those obligations. However, it’s important to know that filing Chapter 7 or Chapter 13 isn’t the end of the world, and in many cases,...
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...
When is it time to take serious steps to reduce your debt?
If being in debt has become the norm for you, as it is for many people, it may be hard to determine just when you have too much.What are some key objective criteria you can evaluate to determine if you have more debt than you should? Following are a few.You're paying...
How unpaid student loans may result in losing your job
If you have student loans and you also possess a professional license issued by your state, then listen up. In at least 19 states in this country, you can have either your driver's license or professional one, or both, suspended if you default on your educational...
When holiday credit card debt follows you all year
As shoppers head to the malls and their laptops this holiday weekend to begin their holiday shopping, NerdWallet has some sobering information on Americans' spending and charging habits around gift giving. In a recent survey, most people said they plan to spend...
Student loan debt hardship for senior citizens
Student loan debt is far from trivial when it comes to affecting the current and future financial wherewithal of New Jersey residents. While many people think of young college students and new graduates as being subject to the plague of school debt, this is far from a...
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...
