Student Loan Debt Cancellation for Newark, NJ Residents

The average student loan balance in New Jersey is $36,800. Student loans are a significant source of financial distress for many residents.   That’s why it’s so important to understand the new student loan debt cancellation program enacted by the White House.  $10,000 to $20,000 in Forgiveness You may be eligible for loan forgiveness if you…

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Do You Have to Talk to Debt Collectors in Newark, NJ?

The phone rings day and night. If you answer, there’s a stern voice on the other end, demanding that you give them money.  You go through your days with a sense of dread, and your stomach twists every time the phone rings. Do you really have to go through all this? The truth is no,…

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Can New Jersey Nursing Homes Sue You for Your Family Member or Friend’s Care Debt?

A recent story in NPR told of nursing homes who are aggressively suing family members and friends for nursing home resident debt.  In most cases, it’s impossible to sue someone a debt unless they have a financial tie to you: that is, unless you have co-signed for the debt, or unless you are the spouse…

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How to Repair Your Credit After Your Newark, NJ Bankruptcy

The credit score is such a ubiquitous part of American life that it’s little wonder that bankruptcy’s impact on your FICO score would be one of your primary concerns prior to filing. You’re not alone—most of our clients ask about their credit score at some point during the process. Fortunately, bankruptcy will be a net…

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What Newark, NJ Residents Should Know About Car Repossessions

New Jersey has some of the harshest repossession laws in the nation. It also is one of the states where you most need a car to get around: most people can’t get to work here without a car, as public transportation is spotty and few places in New Jersey are particularly walkable or bikeable. That…

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Can a Debt Collector Threaten You With Jail in Newark, NJ?

Some unscrupulous debt collectors will just say anything to get you to reach into your wallet. This includes threatening you with jail. Yet in America, there are no such things as debtors prisons. There have been a few confusing news stories which might make it seem otherwise, but that’s just a simple fact. You cannot…

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Does It Make Sense to Pay Debt Collectors in Newark, NJ?

When debt collectors are dialing day and night it is easy to start feeling scared, pressured, and depressed. Some people ignore every letter and call, which can be dangerous in its own way because this strategy can lead to a lawsuit. But scrambling to pay debt collectors can be even more dangerous, especially if you…

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7 Signs It’s Time for Newark, NJ Residents to Consider Bankruptcy

Scrabble letters spell the word bankruptcy

Bankruptcy is a big step, and it’s not always easy to know when you should take the plunge. Yet many people wait far too long to file. They scramble, dip into their retirement funds, and throw good money after bad. Fortunately there are some clear-cut signs that you can use to determine whether bankruptcy is…

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Can Bankruptcy Save Your Newark, NJ Home?

Bankruptcy can save your home in some cases. In fact, avoiding foreclosure is one of the primary reasons that our clients come to us for help. Saving your home isn’t simple. Here are the factors that will need to be taken into consideration as we attempt to help you.  Your Equity A certain percentage of…

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Why You Shouldn’t Use Retirement Funds to Pay Debts in Newark, NJ

A favorite tactic of debt collectors is to pressure you into taking money out of your retirement accounts to pay them off. Yet this is one of the worst financial moves you can possibly make.  Here’s why paying debts this way makes absolutely no sense at all. Almost all retirement funds are exempt in bankruptcy.…

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Filing Bankruptcy Without Your Spouse in Newark, New Jersey

Believe it not, you don’t have to file bankruptcy with your spouse if you don’t want to. Bankruptcy filing is associated with a social security number. That doesn’t mean your bankruptcy won’t touch your spouse, or your spouse’s financial life. Your social security numbers are listed in certain databases as associated numbers. You may have…

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How Do Bankruptcy Exemptions Work in Newark, NJ?

A bankruptcy exemption allows you to protect some of your property during bankruptcy. If you declare a Chapter 7 bankruptcy the trustee is usually allowed to sell off some of your property to pay off your debts. Exempt property isn’t touched. An experienced bankruptcy lawyer can make good use of exemptions to protect what matters…

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Handling Debts to Friends and Family Members in a Newark, NJ Bankruptcy

If you owe money to friends or family members you’re hardly alone. Nearly 60% of Americans have lent monet to friends or family members. Yet if you don’t handle these debts correctly upon filing for bankruptcy you can end up in a lot of trouble. Here’s what you need to know. Friends and Family Members…

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How to Prepare for Your 341 Hearing in Newark, NJ

When you file for bankruptcy the court will schedule a “341 Hearing,” or a “meeting of the creditors.”  This hearing is a chance for your creditors to ask questions about your assets and liabilities, as well as your income and expenses. It’s an opportunity to confirm facts that you’ve stated when you filed your bankruptcy…

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Do You Qualify for Expanded Student Loan Forgiveness?

Federal student loans are a major financial issue for so many Americans. That’s why our Law practice is so focused on tracking student loan relief bills. The latest move from the Department of Education is a positive one. The Department of Education has offered a public service loan forgiveness expansion. Some borrowers had trouble obtaining…

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