When dealing with debt, you will also most likely deal with debt collectors. Though many follow the rules and do their jobs appropriately, some will attempt to misrepresent themselves in order to get you to comply with their wants. Debt collector misrepresentation...
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Personal Bankruptcy
How does the bankruptcy court exempt assets from liquidation?
The U.S. Bankruptcy Code allows New Jersey residents to exempt some of their assets from liquidation. If you file for Chapter 7, the court may require you to sell valuable property to repay outstanding debts. An exemption, however, could allow you to keep some of your...
Are you dealing with harassing debt collectors?
No one ever wants to deal with debt collectors, especially with their grim reputation and the nasty way they can sometimes conduct their business. Most debt collectors will remain relatively respectful and calm, but a few out there can press their boundaries so far...
What is the Fair Debt Collection Practices Act?
When dealing with a heap of debt, the last thing you need on top of that is even more external stress. Unfortunately, this is exactly what people dealing with debt collectors often get. Some debt collectors even cross the line, harassing or intimidating you in their...
What is a means test?
Individuals who find themselves over their heads with debt may find that Chapter 7 bankruptcy is one way to handle their money issues; however, before the process can begin, they must pass a means test. Credit Karma notes that this test measures whether someone...
Looking at the benefits and disadvantages of an automatic stay
Perhaps you are dealing with nonstop harassment from creditors seeking payments from you and you want this situation to end. If you have decided to declare bankruptcy, keep in mind that as soon as you file, you release the power of the automatic stay. However, along...
How can you restore your financial reserve after bankruptcy?
Bankruptcy can help you reduce your debt and reorganize your finances. With a new lease on financial independence, you may want to look for ways to maintain freedom from debt. Rebuilding your financial reserve will take time. You will need to commit to establishing...
3 advantages of Chapter 13 bankruptcy
Bankruptcy in general offers you a lot of advantages. For example, once you file, collection actions against you stop immediately due to the automatic stay. Depending on your financial situation, you may have several bankruptcy options available to you. Chapter 13 is...
Your debt-to-income ratio and your future financial success
Owning a home is one of the more effective ways to achieve financial security. After all, you can probably expect your house to appreciate in value over time, allowing you to borrow against its equity. You may also be able to sell the house in the future for a large...
What should I know before filing for bankruptcy?
When debt becomes too much for you to reasonably handle, bankruptcy is a viable option. Filing allows you to establish a clean financial state, and in many cases it allows you to retain property, such as your primary home and vehicle. In the event it is the right...
