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Debt Relief Archives

New Jersey residents' debt often exceeds the national average

Researchers with the Urban Institute have determined that at least 28 percent of all New Jersey residents have bills that are so long overdue that they've been turned over to collections. While this statewide average is at least five percentage points lower than the national one, that's far from the case in at least nine counties in New Jersey. In those, the collections rate of residents either meets or surpasses the national one.

How unpaid student loans may result in losing your job

If you have student loans and you also possess a professional license issued by your state, then listen up. In at least 19 states in this country, you can have either your driver's license or professional one, or both, suspended if you default on your educational loans.

When holiday credit card debt follows you all year

As shoppers head to the malls and their laptops this holiday weekend to begin their holiday shopping, NerdWallet has some sobering information on Americans' spending and charging habits around gift giving. In a recent survey, most people said they plan to spend approximately the same as last year. The average predicted expenditure was $660.

Student loan debt hardship for senior citizens

Student loan debt is far from trivial when it comes to affecting the current and future financial wherewithal of New Jersey residents. While many people think of young college students and new graduates as being subject to the plague of school debt, this is far from a complete picture.

Are you a victim of lifestyle inflation?

If we're lucky, from the time we join the workforce until the time we retire, our income increases. With that comes lifestyle inflation. It's only natural at first that people will want to move out of their post-college studio apartment, sell their used car, invest in a better wardrobe and take vacations to Europe instead of a drive to the Jersey Shore.

Options for tackling overwhelming credit card debt

American consumer debt rate has once again returned to pre-2008 levels and many find themselves once again encumbered by record-setting credit card debt. The first step in figuring out how to tackle it involves you sitting down will your bills, making note of your balances, the minimum payments and interest rates for them.

An increasing number of those with student loan debt are seniors

If you're in your 30s and feel like you'll be paying off your student loan debt into your senior years, you may be right. Some 27 percent of those paying off their student loans are in their 60s or older. More than two-thirds of borrowers are paying off loans they took out or co-signed on for their children and grandchildren. This age group is the fastest-growing demographic of people with student loans.

The disadvantages of consolidating student loans with other debt

We've all received those mailings inviting us to consolidate all of our credit card debt into one low-interest credit card or to get a home equity or other loan to consolidate our debts. The temptation to consolidate debts so that you don't have to worry about making a multitude of payments every month can be irresistible, particularly if you're told that you can save money on fees and interest.

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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.