If you are in a serious financial crisis, it may seem like every part of your life has been affected in a negative way. Your options-as well as your future-may suddenly seem terribly constricted. You may feel very alone, and as if you can't talk to anyone about these...
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Year: 2017
Unable to Pay the Mortgage: What Happens if I just Walk Away?
The threat of foreclosure does not happen overnight. For most homeowners in distress, payments have been late for at least several months-and possibly more. A loss of income is usually the cause, due to a life event that was almost certainly unexpected and even...
The Cramdown: Lowering Your Car Payment in Bankruptcy
Property is often one of the main concerns in bankruptcy. The potential loss of your home or car may become a central focus, as well as the deciding factor in whether you file for Chapter 7 or Chapter 13 bankruptcy. While Chapter 7 is generally considered the...
CAN A LENDER FORECLOSE WHILE A LOAN MODIFICATION APPLICATION IS PENDING?
The home is where the heart is, often filled with many of our life's memories as well as offering a treasured place of comfort and security. When that becomes threatened, you may find yourself exploring and exhausting every option before giving in to foreclosure....
How Bankruptcy Stops Creditor Harassment
If you have decided to file for bankruptcy, most likely you've been under financial duress for months now, or maybe even years. Medical debt is usually the number one reason given for filing bankruptcy, whether in Chapter 7 or Chapter 13. Unemployment comes in as a...
How Bankruptcy Affects Divorce
It's common knowledge that money issues often lead to divorce, so it's not surprising that bankruptcy may be looming while couples are splitting up, whether for one spouse or both. If you and your spouse know that you both need to file, the process will be more...
Forgiveness of Debt Income
Being in debt can cause terrible stress which unfortunately does not disappear overnight. This problem cannot be ignored - as tempting as it would be to take those bills and literally shove them under the rug or toss them out. While millions of other Americans may be...
THE NEW JERSEY FORECLOSURE SALE PROCESS
If you have been experiencing extreme financial distress, it was most likely caused by an unexpected event or series of life events such as illness or unemployment. Unsecured debt like credit cards may have spiraled out of control. Aggressive debt collectors may be...
Avoiding Loan Modification Scams
If you are currently in danger of losing your home, most likely you are exploring all options while still attempting to tread water financially. Fear of foreclosure can cause a substantial amount of stress for any homeowner, increasing as you try to go it alone in...
Retail Bankruptcies Hit All-Time High
Most shoppers enjoy a sense of comfort in knowing that when they go to a retail center they are likely to see some of the stores that have been there since they were kids. Stores such as Radio Shack or Payless ShoeSource are perfect examples. But today, if you are...