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3rd Stimulus Payments Are on the Way

There is good news for millions of Americans with financial hardship. The next round of stimulus payments is on the way. Stimulus money is showing up in bank accounts and checks will soon be arriving in the mail. However, there is also some bad news. Unlike the first two rounds of stimulus, this round is not safe from creditors. In [...]

Mortgage Forbearance, Loan Modifications & Refinancing

I came across an article on Yahoo Finance about mortgage payments during the pandemic. The title of the article is Joe Biden just gave homeowners an even longer break from mortgage payments. Basically, the article discusses the extension of the government’s mortgage forbearance program. This program was put in place so people can keep their homes during the COVID-19 financial crisis. Please refer [...]

Fair Debt Collection Practices Act and You

What is the Fair Debt Collection Practices Act? Why do you care? Or why should you care? The answer is quite simple – the Fair Debt Collection Practices Act protects you, the consumer. Also known as FDCPA, this Act was created by the Federal Government to protect people from unscrupulous collections agencies and debt collectors. Basically, the FDCPA aims to [...]

Mental Health and Money

I read an article in Real Simple Magazine last year that stuck with me, Your Most Complicated Money Feelings, Resolved. I know that mental health and money can go hand-in-hand.   The opening line reads: Money can be emotional. Experts say the first step in sorting out your finances is sorting out your feelings. The article goes on to address [...]

2021-02-04T18:46:40+00:00Bankruptcy|

High Unemployment & Consumer Confidence – What Gives?

Unemployment is at record highs. Consumer bankruptcy filings are at historic lows. And consumer confidence is high. What is going on? A recent episode of The Indicator from Planet Money and NPR sheds some light on the situation - check out Why Consumer Confidence is So High. People thought the pandemic was going to be as bad as the Great Depression [...]

Bankruptcy Chapter 7, 11 & 13 in NJ

Bankruptcies are legal proceedings that allow insolvent debtors with large amounts of debts to have a fresh start. While filing bankruptcy is a legal way for people to wipe out their unsecured debts and obtain debt-relief, not everything is wiped out. One of the benefits of filing a bankruptcy petition includes bankruptcy protection as follows: Stops creditors from collecting or [...]

2020-11-10T17:44:47+00:00Bankruptcy|

You Qualify for Chapter 7 Bankruptcy, But Is It Your Best Choice?

Chapter 7 is the most common consumer bankruptcy. This bankruptcy type resolves debt under federal court protection. Unsecured debts, or those with no collateral, are often forgiven. Generally, credit card debt, personal loans, and medical bills are covered, but back taxes, student loans, and alimony and child support are not. Due to credit reports, it will be harder to get [...]

2020-09-22T08:34:06+00:00Bankruptcy|

What Happens to Your Personal Properties and Investments After Bankruptcy?

When declaring personal bankruptcy, one of the filer’s main considerations is his or her willingness to give up certain properties and assets. Although retaining a property such as a home, car, or certain investments would depend on the type of bankruptcy filed whether it was under a secured or unsecured debt, this post gives you an overview of what to [...]

2020-08-10T05:44:31+00:00Bankruptcy|
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