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September 2016 Archives

Bankruptcy Isn't About Shame -- It's About Leveling The Playing Field

There is no question that banks and credit card companies want to perpetuate the idea that filing for bankruptcy makes you a loser. Creditors have done all they can over the years to stack the deck against hard-working Americans who often find themselves in debt through no fault of their own. Credit card companies even have many members of Congress believing that people who can't pay back the money they owe are deadbeats. In October of 2005, a new law was passed to make it even harder for Americans to get the second chance they need and deserve.

1 payday loan shouldn't lead to bankruptcy

A consumer wrote to Bankrate's Debt Adviser, wanting to know if her failure to pay off a $1,500 payday loan was enough debt to consider filing for bankruptcy. The woman had taken out the high interest rate loan to cover emergency medical expenses, but was unable to repay it.

Is Chapter 13 bankruptcy an option for you?

If your debts have become truly unmanageable, you may want to consider filing for Chapter 13 bankruptcy. Sometimes referred to as a wage earner's plan, Chapter 13 allows individuals who have a steady income to come up with a repayment plan for a portion or all of their debt load.

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At the law offices of William H. Oliver, Jr. & Associates in Toms River and Lakewood, New Jersey, we represent clients in Toms River, Neptune, Trenton, Middletown, Red Bank, Wall, Lakewood, Lakehurst, Manchester, Asbury Park, Old Bridge, Jamesburg, Barnegat, Forked River, Manahawkin, Ocean Township, Brick, Manasquan, Howell, Freehold, Hazlet, Bradley Beach, Brown Mills, Long Branch, Keansburg, Marlboro, Bayville, Beachwood, Whiting, Sayreville, South River, East Brunswick, Monmouth County, Ocean County, Middlesex County, Burlington County and Mercer County.