New Jersey Bankruptcy in 2015: Everything You Need to Know

New Jersey Bankruptcy in 2015: Everything You Need to Know

Filing a bankruptcy is a big decision and it can be a little overwhelming. We’ve put together this list of all the important things you need to know so that you can make your decision with all the facts in 2015. Types of Bankruptcy There are two main types of consumer bankruptcy: Chapter 7 and… Read more »

Can I Discharge A Loan I Used To Start A Business In New Jersey?

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At the end of the bankruptcy process, the debtor receives a discharge of her unsecured debts. This prohibits creditors from ever trying to enforce their claims against the debtor. Certain debts are not discharged, such as student loans, some taxes, child support, and others, but most debts are wiped out. What about a loan used… Read more »

Surviving Casino Closures: Unemployment in Atlantic City

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The famous Atlantic City casinos are closing, which means thousands of Atlantic City residents are finding themselves unexpectedly unemployed. The casinos have been struggling for years, but stiff competition from Las Vegas and casinos in surrounding states have simply overwhelmed the boardwalk. Four casinos have closed already in 2014. As of September 2014, Atlantic City… Read more »

3 Most Common Types of Debt in New Jersey

3 Most Common Types of Debt in New Jersey

US residents have a total of almost $12 billion of outstanding debt. Of that $12 billion, almost $9 billion is housing-related debt. Just over $1 trillion is student loan debt, and just under $1 trillion is auto loan debt, followed by credit card debt at $660 billion. That makes for a total debt per capita… Read more »

How Fast Can a Bank Foreclose in New Jersey?

If you’re behind on your mortgage payments on your home in New Jersey, you’re probably worried about foreclosure. When will the bank start the process of foreclosing on your home? Do you have any options to stop the foreclosure? Will you have to move out right away? New Jersey is a judicial foreclosure state, meaning… Read more »

Can I be sued if I don’t pay my New Jersey student loans?

Can I be sued if I don’t pay my New Jersey student loans?

In a word, yes. Student loans are debts just like any other. If you fail to make your payments, you’ll go into default. Once you default, your loan servicer may sue you for collection. So, when can they sue and what will it mean for you? Delinquency and Default Some student loans are privately funded…. Read more »

Collection Lawsuits in New Jersey

Collection Lawsuits in New Jersey

You’ve missed a few payments on a debt and you’ve gotten notice that you’re in default. Now you’re worried about a lawsuit. How does a debt collection lawsuit work in New Jersey? Receipt of Notice You’ll know your creditor has filed a lawsuit against you when you receive a summons and a complaint. The complaint… Read more »

Debts After Bankruptcy in New Jersey

Debts After Bankruptcy in New Jersey

Filing for bankruptcy doesn’t stop the world from turning. You still have your job, your family, and the rest of your life to think about. Bankruptcy may also not take care of all of your financial worries. Some debts extend past bankruptcy. You should make the decision to file for bankruptcy with the long game… Read more »

Credit Card Debt in New Jersey

Credit Card Debt in New Jersey

According to the Federal Reserve, Americans owe a total of almost $857 billion in credit card debt. That amounts to more than $7,000 per household. This is the third largest source of debt in the country, after mortgage debt and student loan debt. Consumers are sucked into the credit card debt cycle when they pay… Read more »