Debt is a common issue in the United States. The average household may have credit card debt as well as a mortgage and a car loan, to say nothing of the student loans that the parents may carry as well. Given that the average American household does carry some degree...
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Discuss a mortgage loan modification with your lender
Whether you've fallen behind on your mortgage payments or foresee this happening in the future, it's critical to take immediate action to protect your home and legal rights.Despite your financial frustrations, there are steps you can take to settle down your situation...
With Chapter 13 bankruptcy, your assets can be protected
You may not like the idea of going through a Chapter 7 bankruptcy, because it would potentially require you to turn over assets you've accumulated over time. You might not qualify for Chapter 7 based on your income or other circumstances. Instead, you may be hoping...
Who can benefit from Chapter 7 bankruptcy?
When it comes to personal financial struggles, everyone is different. This is why there are so many different bankruptcy Chapters. Each bankruptcy Chapter is designed with certain situations and financial scenarios in mind and is tailored to help specific groups of...
Bankruptcy may only delay – not derail – home ownership dreams
One common misconception causes debtors who could really benefit from bankruptcy relief to delay or shun filing for Chapter 7.Many consumers mistakenly believe that filing for bankruptcy precludes their ever qualifying again for a mortgage. While it's true that...
You must reaffirm your mortgage during bankruptcy proceedings
Many people don't really understand the bankruptcy process. What they know about it comes from movies or stories that they hear, which may not be accurate. The lack of public knowledge about bankruptcy leads to the dissemination of misinformation about what happens...
Did the shutdown wipe you out financially?
If you are a federal worker in New Jersey, this most recent government shut down might have wreaked havoc with your finances. But you don't even have to be a government employee to be adversely affected by this work cessation.For instance, if you operated a food truck...
What your bankruptcy attorney wishes you knew
So, you've bitten the bullet and decided to file for Chapter 7 bankruptcy to resolve your intractable debt problems. That's the first step toward fiscal solvency.But there are a few things to keep in mind that you may not have considered — and which your...
Don’t be shortsighted about a short sale
Some people who are mired in debt and can't afford to continue paying their mortgage think that unloading the property in a short sale will be to their benefit. What many fail to understand is there are financial implications, both tax and otherwise, that can...
Could your marriage fail because of your student loans?
In case you need another reason to get your debt problem under control, there is an additional issue plaguing consumers in New Jersey and elsewhere.SunTrust Bank studied the effect of student loan debt on relationships, specifically, marriages. While it was no...
