Knowledge Center

Keeping your car in bankruptcy is often possible in New Jersey, but it depends on whether the car is financed or paid off, how much equity is in it, what exemptions apply, and whether you are filing Chapter 7 or Chapter 13. Bankruptcy does not automatically mean you lose your vehicle. The real question is […]

Bankruptcy can affect marriage and divorce depending on timing, whose debt is involved, whether one or both spouses file, and whether a divorce is already underway. Bankruptcy can give some couples breathing room, but it can also change how marital property and debt are handled during a New Jersey divorce because the automatic stay can […]

A windfall during bankruptcy can become part of your bankruptcy case, but the answer depends on what the money is, when your legal right to it arose, and whether you are in Chapter 7 or Chapter 13. In Chapter 7, the estate generally includes what you owned or had a legal interest in when you […]

One of the most common concerns people have when filing for bankruptcy is the 341 Meeting of Creditors. Many individuals assume this step will be stressful, confrontational, or complicated. In reality, the meeting is usually far simpler and quicker than most people expect. I have been helping individuals navigate financial challenges for decades, and in […]

If you’re overwhelmed by credit cards, medical bills, or collection lawsuits, you’re not alone. Many New Jersey residents struggle with unsecured debts and aren’t sure what options are available. As a bankruptcy attorney practicing in New Jersey for decades, I’ve seen firsthand how confusion about unsecured debts keeps people stuck in financial stress longer than […]

It’s no surprise that the car buying process has gotten out of hand. Car dealerships have become loan dealerships and you, the customer, are the target. Total auto loan debt in the United States has reached $1.64 trillion, as prices for both new and used cars reach historic highs.[1] [2] Many Americans have turned to financing, ~81% […]

Bankruptcy Mistakes Homeowners Make When Filing Chapter 7 When filing bankruptcy as a homeowner, few terms cause more anxiety than “abandonment.” It sounds alarming, and many people assume it means they are being forced to give up their home. In reality, misunderstanding abandonment is one of the most common—and costly—bankruptcy mistakes homeowners make. In Chapter […]

How can I get debt relief? Here’s some good news. Let’s say you have debt, but it’s not overwhelming enough to make you want to file bankruptcy. Maybe you’ve already filed bankruptcy in the recent past and are not allowed to do so again for a while. Debt relief programs are advertised as a way […]

What is the means test? The means test compares the household income and expenses of people filing for bankruptcy to average households in the same state.  It has two parts.  The first part compares gross household income over the 6 months before filing bankruptcy to the median income for a household of the same size.  […]

What is the Bankruptcy Means Test in New Jersey? If you’re researching bankruptcy in New Jersey options, you may have come across the term means test. But what exactly does the bankruptcy means test mean, and why is it so important? The bankruptcy means test determines whether you qualify for Chapter 7 bankruptcy or if […]

How Bankruptcy Treats Transfers to Friends and Family If you’re considering filing for bankruptcy, you might be tempted to transfer money, a car, or other valuable property to a friend or family member to protect it. While that might seem like a straightforward shortcut, bankruptcy law often views such transfers very differently. The trustee — […]

Have you ever wondered if there is a specific amount of debt you need before you can file for bankruptcy? Is it ten thousand dollars? Fifty thousand? Does it have to reach six figures before the Court will consider your situation? The truth may surprise you, and understanding it could make all the difference in […]

Imagine working your entire life, building up strong retirement savings, only to drain them in an attempt to pay off mounting debt. It might seem like a quick fix in a stressful moment, but I have seen too many clients regret that decision. In fact, using retirement savings to pay off debt is one of […]

If you have recently filed for bankruptcy, you might be wondering whether you will ever be able to rent a home or apartment again. For many people, this is one of the biggest fears when considering bankruptcy. The good news is that while a bankruptcy filing will appear on your credit report, it does not […]

Picture this. You come home and there is a utility shut off notice taped to your door. Suddenly, you’re facing the possibility of losing power, water, and access to the basic things that keep your life running. The panic sets in fast. But what if I told you there is a way to stop that […]

If you have ever heard that filing Chapter 13 bankruptcy means you must pay back all your debts, you are not alone. But here is the truth, most people do not know – sometimes you do not have to pay everything back. In fact, many people who file Chapter 13 end up paying back only […]

What happens if you have multiple bankruptcy filings? Have you already filed for bankruptcy and are now thinking about filing again? Whether it is to stop a foreclosure, halt wage garnishment, or buy some time from collections, it is important to understand what happens when you file multiple bankruptcy cases. While filing again is legal, […]

Is buy now, pay later a good idea? Would you ever imagine falling into debt over something as small as a burrito? It may sound ridiculous, but with services like Klarna, Afterpay, Affirm, and even PayPal offering buy now, pay later options, that situation is more common than you’d think. Today, you can order a […]

If you are drowning in debt or struggling with relentless collection calls, waiting to file bankruptcy might feel like buying time, but in reality, it could be costing you thousands. The Cost of Waiting: Why Delay Makes Debt Worse Many people wait far too long before considering bankruptcy. And by the time they do, the […]

Forming an LLC is a smart move for any small business owner. It gives the impression that your assets are shielded if the business encounters financial trouble. But here is the surprising truth: an LLC does not always protect you from personal liability, especially if certain mistakes are made along the way. What Is an […]

Are you wondering if you can discharge student loans through bankruptcy? If you are drowning in student loan debt and feel like there is no escape, you are not alone. Here is something that might surprise you: bankruptcy could help. With recent changes in federal guidance, discharging student loans through bankruptcy is more possible than […]

Cosigning a loan might seem like a kind-hearted gesture, whether it is for a loved one trying to get their first car, a friend applying for a credit card, or a family member needing a student loan. On the surface, it feels like support. But before you sign on that dotted line, it is crucial […]

If you’re currently navigating a Chapter 13 bankruptcy plan, you know how important it is to stay on track with your payments. But what happens if life gets in the way and you miss one? Missing a single payment during your bankruptcy can significantly affect your case and financial future. Understanding the potential risks and […]

Are you looking for a way to save your home from foreclosure? Foreclosure is one of the leading reasons people file for bankruptcy, often triggered by unexpected life events like job loss, medical emergencies, or other financial struggles that make mortgage payments unaffordable. If you are behind on your mortgage payments or facing foreclosure, you […]

Student loan debt in the United States has reached a staggering $1.7 trillion, leaving millions of borrowers struggling to make payments and manage their finances. You are not alone if you or someone you know is facing the burden of student loan debt. The good news is that, for the first time in many years, […]

One of the biggest misconceptions about bankruptcy is the fear that you will lose everything you own. Many believe filing for bankruptcy means their possessions will be sold to pay off creditors, especially when they read about the “liquidation” process. This false belief can scare people away from seeking the relief they deserve during financial […]

Do you have an SBA loan? In the past year, there has been a significant increase in businesses seeking Small Business Administration (SBA) loans, with numbers rising by 50%. Many of these businesses sought financial help due to the challenges brought on by the COVID-19 pandemic. Small businesses such as restaurants, dry cleaners, and schools, […]

One of the biggest misconceptions about bankruptcy is the fear that you will lose everything you own. Many believe filing for bankruptcy means their possessions will be sold to pay off creditors, especially when they read about the “liquidation” process. This false belief can scare people away from seeking the relief they deserve during financial […]

Is it odd to be thankful I am a bankruptcy lawyer? As we approach the Thanksgiving holiday, I am reminded of the importance of supporting others during difficult times, especially when it comes to navigating financial distress. The season of gratitude offers a powerful reminder of why my work as a bankruptcy lawyer is so […]

Are you considering filing bankruptcy individually without your spouse? When managing finances, most married couples are used to making decisions together. Many financial matters are handled jointly, whether budgeting, saving for retirement, or taking out loans. But when it comes to filing for bankruptcy, did you know that one spouse can file independently without involving […]

Did you know that Abraham Lincoln, one of the most revered presidents in American history, filed for bankruptcy? In this post, we’ll explore five famous individuals who faced financial hardships, shedding light on their journeys and the lessons learned. 1. Abraham Lincoln Abraham Lincoln struggled with financial difficulties throughout his life, particularly as a storekeeper. […]

Veterinary costs have spiked by 7.6% over the past year, leaving pet owners and animal lovers reeling from the financial impact of keeping their beloved companions healthy. This increase is not just a number; it is a significant factor in financial distress for many, especially in states like New Jersey. Why Veterinary Costs Are Rising […]

Gambling is often perceived as a fun and exciting activity, but it can quickly turn into a financial nightmare for many. The average gambler loses a staggering $20,000 a year, and with the rise of online gambling, this issue has become more pervasive. A recent study shows that 16 to 24-year-olds in the United States […]

For many, the thought of filing for bankruptcy is daunting and often accompanied by the fear of never owning a home. However, the reality may surprise you. Many ask, “If I am filing for bankruptcy, can I buy a house again?” The simple answer is yes — filing for bankruptcy impacts your credit, but it […]

You may qualify for bankruptcy protection if you are falling behind on payments, racking up debt, and barely making your minimum payments. Bankruptcy laws were enacted for such situations, but the process can seem daunting and confusing. You should know that there are different types of bankruptcies, and you must qualify for them. In this […]

Worrying about what happens to assets in bankruptcy is common. Filing for bankruptcy can be daunting, especially when you are not sure what will happen to your assets. If you are considering filing for bankruptcy protection, understanding the intricacies of the bankruptcy process is crucial. This blog post will demystify what happens to your assets […]

Facing financial uncertainty can be one of the most daunting experiences in life, but bankruptcy help is available. It is a journey I know all too well, having walked a similar path myself. Starting a new business is an exhilarating yet risky venture, and for many entrepreneurs, it involves taking on significant debt, making sacrifices, […]

A loan modification can be a great solution to a delinquent mortgage or unaffordable mortgage payments. It can enable a homeowner to avoid foreclosure and the loss of a home. It can also provide a solution when mortgage arrears are so high that an affordable Chapter 13 bankruptcy payment is out of reach. You don’t […]

Alarmingly, one in three Americans keep their credit card debt a secret.[1] Concealing one’s debt often leads to further financial strain. Credit card debt won’t go away on its own so consumers that are facing ever-mounting balances need to face the music and act. It may be scary and uncomfortable, but by putting a plan […]

Introduction It is estimated that about 20% of adults in the United States have student loan debt and that about 93% of all student loan debt is federal.[1] The Covid-19 pandemic paused a variety of financial obligations: from mortgage forbearances to temporary moratoriums on evictions for non-payment of rent, to the interest-free student loan freeze; […]

Introduction: Your credit reports and credit scores play significant roles in various aspects of your life, including loan applications, employment opportunities, and housing prospects. In this article, we’ll explore the fundamentals of credit reports and scores, their importance, and steps you can take to improve your credit health. Whether you’re aiming to secure a mortgage, […]

Over the last thirty-years student loan debt has nearly quadrupled.[1] Your average American carries student loan debt ranging from $25,000.00 to $50,000.00. Many people carry substantially more than that. When one is struggling financially student loans can feel like the proverbial straw that broke the camel’s back. And while deferment or income driven repayment plans […]

The conversation typically starts with something like “my friend filed chapter 7 bankruptcy and wiped out a ton of debt without paying anything!”  Or, “I read online that a chapter 7 is better, so that’s what I want to file.”  It’s true that filing a Chapter 7 bankruptcy case is a great way to get […]

Not long after a bankruptcy is filed the debtor ends up inundated with credit card offers. A common question we receive is “should I get a credit card?” We thought it would be appropriate to address this question at large so you can understand the practical effect and consequences of obtaining a credit card, or […]

Inflation and the price of food and fuel all continue to rise. Salaries are increasing but are not expected to keep pace with inflation. Rent prices are rising 4x faster than income.  That’s the bad news. But wait, there’s more bad news: financial distress can weigh heavy on the average consumer, and ongoing stress about […]

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. You might be saying “that is all well and good, but what happens when the defendant in a personal injury action files for bankruptcy?” What do you do? The simple answer is STOP everything. When a debtor files for bankruptcy they gain the protection of the automatic […]

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. An unfortunate truth is that when someone is injured in an accident, they are almost always going to be suffering a financial hardship on top of their injuries. For this reason, you confirm the bankruptcy status of your client. Are they in an active bankruptcy? Are […]

What are some of the most common myths about the bankruptcy process? Myth One: Filing bankruptcy is a personal failure The Truth: Most bankruptcies are a result of financial distress beyond the individual’s control. With foreclosures, evictions, and financial distress directly related to the pandemic, more people need a financial fresh start. Myth Two: Both […]

It’s tax season again and that leads us to the inevitable array of questions about what happens to your tax refund if you have, or are thinking about, filing for bankruptcy. Many people rely on their tax refund to cover large expenses. Someone who is in bankruptcy, or is thinking about it, doubtlessly wants to […]

Can Your Student Loan Debts be Discharged in Bankruptcy? As of March 2020, federal student loan payments were paused due to the COVID-19 pandemic. President Biden recently extended the pause for an additional 90 days– it is now set to expire on May 1, 2022. Many of us are taught that to secure a financially […]

The eviction ban that was first put in place by the Centers for Disease Control and Prevention back in September 2020 is set to expire on June 30th. As of this writing it has not been extended. There are still so many people who are struggling with Covid infections and death. The financial catastrophe that many are facing […]

For many people, the Covid-19 pandemic created an unprecedented financial sinking ship.  But there are ways to get back on dry land.  The government has thrown out lifelines specifically aimed at keeping people in their homes.  The two most used by consumers in Covid created financial deep water are mortgage forbearance, and a moratorium on […]

Published in New Jersey Law Journal February 15, 2020  In this unique moment in time, bankruptcy practitioners and consumer protection counsel can, and should, work together and use their concerted expertise to move beyond the discharge. By Joshua Denbeaux, Lee M. Perlman and Heidi Spivak | February 11, 2021 at 12:00 PM With 2020, with its […]

Many people think that the act of filing bankruptcy will affirmatively prevent them from re-establishing their credit; that their life, in essence, is over, but this could be further from the truth, and, in fact, the opposite is true. A bankruptcy will not prevent you from obtaining new credit following a bankruptcy discharge. In the […]

One year ago, the words “Covid-19” began to trickle into the nightly news. No one could have foreseen that “Covid-19” would quickly become synonymous with “global pandemic” or that it would devastate so many ordinary Americans. Our health, safety and welfare has been turned upside down. The impact cannot be minimized as Covid-19 has touched […]

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman Your business, like so many others now, may be struggling now with Covid-19 related stressors. Covid-19 government shutdown orders may have impacted your ability to conduct business like you had been previously used to previously. It is important to review and ask the right questions about […]

Our personal finance team tackles common questions to help entrepreneurs navigate these trying times Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman For many entrepreneurs, the line between personal and business finances is blurry, which can put them in a precarious situation when things go south. Here, WSJ’s personal finance team answers some common […]

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. Too many personal finance bloggers need to sharpen their game when it comes to bankruptcy. Personal finance bloggers do so much good promoting better financial habits and deeper understanding of money. But too often they drop the ball when it comes to bankruptcy. One, they get […]

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman The coronavirus is expected to permanently shut millions of small businesses in the next several months. Here are issues for owners to consider. All the forecasts point in the same direction: A wave of small-business bankruptcies is coming. More than 40 percent of the nation’s 30 […]

If you can’t pay your mortgage due to COVID-19 hardships and are looking for options, please listen to Lee M. Perlman’s excellent legal advise. There is a lot of misinformation being circulated that could cause you to face potential foreclosure. You CAN and should negotiate terms with your lender. Lee give you insights as to […]

What You Need to Know, with New Jersey Bankruptcy Attorney Lee M. Perlman

Attorney Bill Colarulo is joined by Bankruptcy Attorney Lee M. Perlman to discuss Covid-19, the CARES Act & Bankruptcy. Specifically, the following areas are addressed: ✅What is bankruptcy and what are the different types available to individuals? (Chapter 7 and Chapter 13) ✅What effect does bankruptcy have on someone’s credit? ✅Foreclosures & the CARES Act […]

Your financial woes could literally be making you sick. Americans are stressed out. And, in many cases, money is the top cause of that stress. Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. Originally published here by the Huffington Post. In fact, a recent survey by Credit Sesame found that 82% of those who […]

Submitted by New Jersey Bankruptcy Attorney, Lee M. Perlman. A federal loan forgiveness program made a promise to students: Stick with your vital but low-wage professions and your debts will be wiped clean. Then they weren’t. WASHINGTON — When Congress created a student loan forgiveness program in 2007, lawmakers wanted to draw people to vital […]

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. Originally published here by themoneymix.com I created my list of the 25 best personal finance blogs in 2018. I update the list as I discover other blogs along the way. Collectively, these blogs cover most, if not all, areas that make up personal finance. You will […]

What bankruptcy means for your personal finances Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. The number of people 55 and older filing bankruptcies has skyrocketed since 1991, and that’s even more true for those 65 and older. Bankruptcy can offer a fresh start if you’ve fallen on tough times and are unable to […]

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman After bankruptcy, credit scores go steadily up, says a 17 year study released by  the Consumer Financial Protection Bureau. Got that?  Go UP.  Every year. Importantly,  credit scores start improving the same year that the bankruptcy is filed. Think on that for a moment. Creditors and […]

The subprime lending giant is a textbook case in creating a corporate culture of denial. Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman The first thing you should know about a woman I know, who I’ll call Annie, is that she volunteers to sit at the hospital with people who are going to die […]

Learn how long it takes to get an FHA, VA, USDA, or conventional mortgage loan after Chapter 7 or Chapter 13 bankruptcy. Submitted by New Jersey Bankruptcy Attorney, Lee M. Perlman. Filing for bankruptcy doesn’t have to put a damper on your home buying dream—at least not for long. Lenders have eased requirements, opening the […]

There’s a chance your family could be on the hook for it. Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. If you own valuable assets when you die, that can be a bright spot during an otherwise incredibly difficult time for your loved ones who stand to inherit. But if you also have a […]

We are pleased to announce the creation of our new firm, the Perlman Deperis Consumer Law firm Perlman DePetris Consumer Law prosecutes New Jersey lemon law, New Jersey car fraud and New Jersey car warranty cases. Some cases are handled so that you don’t have to reach into your pocket to pay attorney’s fees. Other […]

Doctors’ bills play a role in 60 percent of personal-bankruptcy filings. Submitted by New Jersey Bankruptcy Lawyer, Lee Perlman. In April 2016, Venus Lockett was about to give a speech at an event she volunteered for near her home in Atlanta. She was already stressed. The previous night, she had stayed up late making her […]

New Jersey Bankruptcy Lawyer, Lee M. Perlman interview with Casey Price on his show, Justice For All. January 22, 2019

Lee M. Perlman was recently featured on Justice for All January 22, 2019

More than 1 million kids were victims of identity theft last year. By Casey Bond Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. Identity theft is a constant threat these days. With the number of major data breaches that have occurred in the past few years, such as the unprecedented Equifax breach in 2017, […]

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman A recent study from finance company Northwestern Mutual shows the average American now has $38,000 in debt, not including mortgages. Buzz60’s Sean Dowling has more. Buzz60 Originally published here by USAToday.com

Submitted by Lee M. Perlman, New Jersey Bankruptcy Lawyer. Consumers will soon be able to freeze their credit files without charge. So if you have not yet frozen your files — a recommended step to foil identity theft — now is a good time to take action, consumer advocates say. Security freezes, often called credit […]

A low credit score isn’t always a deal breaker. Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. Bad things happen to good people, and bad credit is sometimes one of them. It can be a pain: A poor credit score makes it tougher to get approved for credit cards and loans. And when you […]

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman LITTLE ROCK, Ark. (Legal Newsline) – A New Jersey man whose business is in Chapter 11 bankruptcy and who might lose his home is fighting a $12.5 million judgment against him in an Arkansas court because of what he maintains was the innocent sending of a […]

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman By Tara Siegel Bernard Aug. 5, 2018 For a rapidly growing share of older Americans, traditional ideas about life in retirement are being upended by a dismal reality: bankruptcy. The signs of potential trouble — vanishing pensions, soaring medical expenses, inadequate savings — have been building for […]

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman Even when you do extensive homework before making a purchase or contracting for a service, things can still go wrong. Although most of us gripe about service headaches to family, friends, and coworkers, we seldom — studies show it’s as few as one out of four […]

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman When Rebecca Wills pictures the home she would like to buy, it looks like the one she grew up in: Small house. Big backyard. Enough grass for the family to lie out on when the New Jersey summers cooperate. “A place where you can come take […]

Although student loan debt is difficult to discharge in bankruptcy, most other forms of consumer debt can be eliminated or reduced. One of the biggest downsides to bankruptcy is the hit to your credit report, because it remains there for seven to 10 years. Consulting with a bankruptcy attorney — often for free — can […]

What to do when your partner ruins their credit — and credibility. Here’s how to fix financial infidelity. Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. By Cheryl Strayed and Steve Almond April 17, 2018 Dear Sugars, My husband and I are both 30. We’ve been married five years. Several months ago, we decided […]

By Jana Kasperkevic • Apr 10, 2018 Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. When we think of bankruptcy, we often think of celebrities who have gone broke, companies that failed and crooks who are trying to cheat the system. But as it turns out, bankruptcy is most common among middle-class Americans. On […]

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. More money doesn’t always equal more happiness. And now we have the research to prove it. In a 2018 study, a group of psychologists at Purdue University looked at correlations between how people feel about their lives, and how much money they earn. The unexpected takeaway: […]

Lending Tree recently performed a study on the cost of bankruptcy and applying for credit after bankruptcy. Read the complete study here.

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. Q. I have a 525 credit score. I own a house, car and truck with all my other debt paid off the in last three months, and I have a bankruptcy coming off after 10 years in March. What should I expect for a score? — […]

Our staff enjoying some well deserved holiday festivities at our annual, always anticipated, holiday lunch This year everyone really loved the great food, and company of course, at Cherry Hill’s Farm and Fisherman restaurant.

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. Couples can fight about anything, it’s just a fact of relationships. But arguments about money have a tendency to be particularly toxic, since they’re layered with deep emotional and personal history. In fact, researchers have shown there’s a direct relationship between the number of times a […]

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. Ada Noda was an 80-year-old great-great grandmother when, in 2008, medical bills from her 2004 emergency open-heart surgery were more than she could ever afford. She ultimately filed Chapter 7 bankruptcy. Now, nine years later, the feisty widowed matriarch from St. Augustine, Fla. says her decision […]

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. If you’re struggling under the weight of your debt, you may have heard of debt restructuring as a way to get some relief. You may have even heard that you can get some of your debt forgiven through the debt restructuring process, allowing you to get […]

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman You’ve filed for bankruptcy. Now it’s time to start rebuilding your credit. It will be hard to get credit at the start, but it won’t be impossible. The bankruptcy on your record means you will have to pay more to borrow money, since you’ll probably be […]

What is a loan modification? A loan modification is a change to the existing terms of a mortgage loan.  It is typically used to lower a monthly mortgage payment or to cure a mortgage payment delinquency.  A loan modification often lowers an existing interest rate, extends the term of the loan, or places mortgage arrears […]

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman The share of people with medical debt has fallen in recent years, but past-due medical bills remain a stubborn burden, especially among younger adults, according to reports published this month by the Urban Institute. “It’s more common than you think,” said Signe-Mary McKernan, a senior fellow […]

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. Errors in credit reports may occur. Some common errors are: Identity errors: Errors made to your identity information (wrong name, phone number, address) Accounts belonging to another consumer with the same or similar name as yours (this mixing of two consumers’ information in a single file […]

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman In recent years, political and economic circles have engaged in much debate—and handwringing—over rising income inequality and the future of entitlement programs like Social Security, Medicare, and Medicaid. And these two issues are inextricably linked, as programs like Social Security can help lessen income inequality by […]

I really enjoy doing pro bono work. For me it is the best kind of volunteer work because it is what I do best every day and enjoy while helping others. Having handled pro bono cases for over 20 years, I have found that the more you volunteer the more energizing it can feel. Handling […]

Submitted by New Jersey Bankruptcy and Student Loan Debt Lawyer, Lee M. Perlman. Whether or not you believe the allegations, the jaw-dropping dossier of sins that the Consumer Financial Protection Bureau accuses the nation’s largest student loan servicer of committing is useful for two crucial reasons. First, it’s a reminder of just how much can […]

Bankruptcy generally takes precedence over divorce. Your bankruptcy filing is specific to your credit report and social security number, in other words your bankruptcy filing does not impact your spouse’s credit. You can file bankruptcy without your spouse’s consent. If you are living in the same household you should know that is likely required that […]

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. Bankruptcy debtors should not reaffirm a mortgage. Reaffirmation of debt in bankruptcy prevents the debt from being discharged, a process explained in greater detail by Kevin Gipson in Chapter 7 Bankruptcy and the Reaffirmation Agreement. Yet, lawyers continue to debate whether to reaffirm a mortgage, without […]

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman A South Jersey restaurant owner has filed two voluntary petitions for relief under Chapter 7 of the U.S. Bankruptcy Code. Louis Faragasso, of Gloucester City, New Jersey, filed two petitions earlier this month in U.S. Bankruptcy Court for the District of New Jersey Camden — one […]

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman It’s the season of the long hike, the slow beach stroll, the idle time when you can finally just talk and think for at least a little while. Even if you don’t get to go on vacation over these next two weeks, many workplaces will be […]

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. Amid a haze of grief after her son’s murder last year, Marcia DeOliveira-Longinetti faced an endless list of tasks — helping the police gain access to Kevin’s phone and email; canceling his subscriptions, credit cards and bank accounts; and arranging his burial in New Jersey. And […]

Stark & Stark Family Law Seminar Series Wednesday, June 8, 2016 from 5:30 PM to 6:30 PM (EDT) Marlton, NJ Bankruptcy and Divorce: What to Expect Before, During and After Filing June 8, 2016,5:30-6:30pm Refreshments to follow This presentation will discuss what to expect during a divorce that involes bankruptcy at all stages. Our co-host […]

Chapter 13 bankruptcy can be beneficial if you have a second mortgage, as the lien can be stripped and the debt erased if you meet certain criteria. Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. NEW YORK (TheStreet) — Most retirees would balk at the idea of filing for bankruptcy. But under certain conditions, […]

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman My credit is going to be destroyed False. Most of the time a client’s credit report has been impacted before they see me. There are late credit card payments, collection accounts or a foreclosure. While the bankruptcy will remain on your credit report for 7-10 years […]

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman Rob Austin and his wife, Natalia, have a 10-month-old son, healthy incomes and plenty of cash in the bank for a down payment on a house. But they are happily renting a townhouse in Pasadena, Calif., with no plans to buy for now, given the frothy […]

Submitted by New Jersey Foreclosure Attorney, Lee M. Perlman If I ignore the foreclosure complaint it will go away WRONG, in most cases you want to accept service of the complaint and decide if a reply or a formal answer makes sense. You have 35 days to file a written answer with the court. You […]

The below article was written by a mortgage law attorney… I am not a bankruptcy attorney. I never have been.  I am a mortgage law attorney. But in the current financial climate, I see clients in my office daily who desperately need to file bankruptcy…And they won’t. The reasons they give, and the parade of […]

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman BRENTWOOD, Tenn. — Cable companies and mobile phone service providers now offer so many deals, options, add-ons and doodads that the sheer number of potential pricing plans can boggle the mind. Chances are, you’re paying too much. Chances are, most everyone is. So here in an […]

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. An unexpected job loss, a medical emergency, a divorce, out-of-control spending or an unscrupulous business partner – there are a great deal of things that can lead to bankruptcy. However, whether your financial crisis was avoidable or not, most people dealing with bankruptcy struggle with feelings […]

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. Clifford Cain Jr., a retired electrician in Baltimore, was used to living on a tight budget, carefully apportioning his Social Security and pension benefits to cover his rent and medication for multiple sclerosis. So Mr. Cain was puzzled when he suddenly could not make ends meet. […]

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman Let’s talk about the morality of being in – and being unable to get out of – debt. There’s no clause in a credit card contract that speaks to morality or ethics. There are bad people who have credit cards and pay them on time. There are […]

Submitted by New Jersey Bankruptcy Attorney, Lee M. Perlman. In early 2015, President Obama proposed the Student Aid Bill of Rights, which included a provision to make it easier for borrowers to repay their students loans. As the result of this provision, the government introduced a new repayment option for federal student loans: Revised Pay […]

You can get all the basics right and yet still break your budget. Researchers are beginning to discover why. Submitted by New Jersey Bankruptcy Lawyer,  Lee M. Perlman How can people get their spending under control? Ask most people, and you’ll get the same answers. They should set budgets. Cut back expenses to better match […]

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. Fannie Mae announced on Monday that it would soon start taking a longer view of consumer credit histories when evaluating mortgage applications, a change that could help some borrowers and hurt others. Beginning in mid-2016, Fannie Mae will require lenders to use what is known as […]

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. IF you graduated from college last spring, it may soon be time to start repaying your student loans. Many federal student loans come with a six-month grace period after graduation, during which payments are not required. The idea is that new graduates need some breathing room […]

Submitted by New Jersey Bankruptcy Lawyer, Lee. M. Perlman After a recent client meeting, I realized just how impactful financial conversations can be. It is truly amazing to see positive changes in a family’s life after what seems like a relatively straight forward, simple conversation. I met with this couple almost a year ago and […]

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. “It feels like I’m being set up to fail.” That’s how Patrick Wittwer, 31, described his experience trying to repay his roughly $50,000 in student loans. Between misdirected payments by one of the companies servicing his loan and the abusive collection tactics he encountered when he […]

Submitted by New Jersey Bankruptcy Attorney, Lee M. Perlman Most of the modern world is built on a foundation of credit. We have credit readily available for just about everything. Want to buy something? No need to wait, just take out a loan. But this very foundation at the core of the economic machine can […]

Bankruptcy is supposed to give debtors a fresh start—unless they’re struggling with student loans. But a little-known provision is helping these borrowers take their creditors to court. Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. In 2005, Chuck Stewart’s life had come to a screeching halt. His partner was in the hospital with a […]

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. If you’ve got student loans, chances are you’ve seen an email or Facebook ad that says something like this: “Call now to qualify for President Obama’s Student Loan Forgiveness program.” Sounds official, but that voice in the back of your head saying you should probably be wary is right. […]

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. When you’re in the trenches of a financial failure, filing for bankruptcy can feel like the end of the world. Your business has failed. You may feel like your career is over, like your life is ruined. But if you take a step back, evaluate your […]

Submitted by New Jersey Bankruptcy Attorney, Lee M. Perlman. Mandatory Waiting Period Reduced To 2 Years It’s getting easier to get approved for a mortgage. Following in the FHA’s footsteps, Fannie Mae has reduced the mandatory waiting period for a mortgage after bankruptcy, short sale, or pre-foreclosure. Borrowers no longer need to wait 4 years […]

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. If you have more student loan debt than you can handle, or if you’ve been paying and paying (and paying) and can’t make headway, chances are you’ve wondered about student loan forgiveness. As you look into your options, keep in mind that everything you read (or hear — even […]

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman Raise your hand if you want to save more. Okay, keep it raised if you feel like there just isn’t enough time to figure out your budget or calculate how much you should be putting away. Well, all that is about to change. There are tons […]

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. By Tim Grant / Pittsburgh Post-Gazette David King grew up on public welfare as a young man in Ambridge. Five years ago, he got married and moved his wife into a low-income housing project in Imperial. He was only earning $7.40 an hour at a part-time job. […]

Submitted by New Jersey Bankruptcy Attorney, Lee M. Perlman Originally published here by the Washington Post. Given the high cost of public and private universities, chances are most families will have to borrow some money to pay for school. But as they decide between student loans offered by the government and those offered by financial firms, consumer […]

Useful advice for managing your credit score. Submitted by New Jersey Bankruptcy Attorney, Lee Perlman. A healthy credit score is almost essential for comfortable living these days. Without credit, it’s nearly impossible to get an auto loan, mortgage, or personal loan if needed. Interest rates are excessively high for those who have limited or bad […]

test By Clay Wyatt, Contributor Posted by New Jersey Bankruptcy Attorney, Lee M. Perlman Do you know someone who is in debt? It wouldn’t be surprising if you do. About a third of Americans with a credit file have debt in collections, according to a 2014 report by Urban Institute. Whether this person asks you […]

Submitted by New Jersey Bankruptcy and Financial Attorney, Lee M. Perlman If you are paying back a student loan, you might be confused about some of the terminology. At Credible, we see borrowers and graduates everyday ask our customer care how they can get the most out of their student loans. Understanding these terms can […]

Submitted by Lee Perlman, New Jersey Bankruptcy Attorney Upon graduation, borrowers are inundated with the task of paying off all of their student related debts. Most graduates will finish their undergraduate degree with federal loans with an average balance of $30,000. At Credible, we see federal student loan borrowers everyday look for options and ask […]

Submitted by New Jersey Bankruptcy and Student Loan Lawyer, Lee M. Perlman Whether you are struggling to avoid a student loan default or just want to stay on top of your loans, finding student loan help can answer all your questions. Repaying your student loans can be a confusing process, and one misstep could affect […]

Submitted by New Jersey Bankruptcy Attorney, Lee M. Perlman. After graduation, student loan management is the last thing you want to think about. If you have landed your first full-time job, the reality of paying back your student loans is right around the corner. If you have been out several years, this is still an […]

By Caryn Ganeles, CommonBond If you’ve earned a graduate degree and want to go into a line of work that makes the world a better place, congratulations! You may be eligible for Federal Loan Forgiveness. This program was created by the government to incentivize careers in public interest and thank the highly educated for dedicating […]

According to the Association of American Medical Colleges (AAMC), 84 percent of medical school graduates carry some student loan debt. And the average level of indebtedness has reached a lofty $176,348. For those who have considered a medical profession or currently practice, these numbers are of no surprise. Higher Prices Mean More Debt The AAMC […]

Submitted by Lee M. Perlman, New Jersey Bankruptcy Attorney When you’re told that your college will be shutting down, there can be a lot of uncertainty about what comes next. In light of recent closures of certain for-profit colleges, we wanted to share some helpful advice to help you navigate the situation. This information and […]

Submitted by New Jersey Bankruptcy Lawyer, Lee M. Perlman. Two of the nation’s biggest banks will finally put to rest the zombies of consumer debt — bills that are still alive on credit reports although legally eliminated in bankruptcy — potentially providing relief to more than a million Americans. Bank of America and JPMorgan Chase […]

Submitted by New Jersey Bankruptcy Attorney, Lee Perlman. The problem with a lot of the advice that teenagers and their families get about higher education debt is that it’s totally, utterly bloodless. The federal Department of Education takes its shot in its role as the de facto provider of advice to people borrowing their first […]

With a new version of the leading FICO credit score working its way through the lending industry, borrowers who have wrestled with medical debt and others who have only a limited credit history might find their scores have improved when they apply for future credit cards or auto loans. FICO Score 9 was rolled out […]

Navigating the Thickets of Student Loan Counseling APRIL 24, 2015 By RON LIEBER Submitted by New Jersey Bankruptcy Attorney, Lee Perlman As a former student loan borrower himself, President Obama has more than a passing familiarity with the complexities of higher education finance. But in a little-noticed bit of comment last year in an interview […]

As Cognition Slips, Financial Skills Are Often the First to Go APRIL 24, 2015 Francis, 84, with his daughter-in-law, Helen Clark. He has mild dementia, and his family says his former wife took advantage of him. Credit Max Whittaker for The New York Times By TARA SIEGEL BERNARD Submitted by New Jersey Bankruptcy Attorney, Lee […]

Submitted by New Jersey Bankruptcy Attorney, Lee Perlman. The note that arrived in the mail, dated March 25 and addressed to my grade-school-age daughter, said what we had expected and feared: Like tens of millions of other Americans, including untold numbers of children, she may have fallen victim to thieves who gained access to Social […]

Submitted by New Jersey attorney Lee Perlman. Christine Salerno is like many other single working mothers with small children, but her days are often packed with even more emotional highs and lows: Her 4-year-old daughter, Lily, with soft brown eyes and a wide smile, was found to have Rett syndrome, a rare neurological disorder, last […]

Submitted by the Law Offices of Lee M. Perlman. In the world of personal finance, credit concerns and debt issues, there is no single issue that is more misunderstood than bankruptcy. Recently the Federal Reserve Bank of New York came out with an exceptional report on the bankruptcy reform of 2005 — which made it […]

UNSOLICITED credit card offers can sound especially appealing to people with blemished credit, or a sparse borrowing history, since they lack alternatives. But cards targeting subprime consumers — those with low credit scores — can get these borrowers into deeper trouble. So-called fee harvester cards offer very low credit limits, but also charge high upfront […]

Submitted by New Jersey Bankruptcy Attorney, Lee Perlman. Originally published here, by the New York Times. Scott Parker once withdrew his entire month’s salary in $1 bills in an effort to show his family the value of money. Credit Jim McAuley for The New York Times When Scott Parker wanted his six offspring to know […]

Submitted by New Jersey Bankruptcy Attorney, Lee Perlman.  Originally published by the New Jersey Law Journal here.  View the original print article here. In what one lawyer termed a “generational change,” New Jersey’s bankruptcy court is in the process of being remade due to a series of retirements and one death that by mid-2015 will […]

Military personnel who have trouble handling their personal finances can very quickly find their duty status, potential promotions and even military careers in jeopardy. And, over time, the lingering burden of debt can add stress to their personal relationships and damage their credit profile. But does that debt have to be a career-killer? Servicemembers, veterans […]

Submitted by New Jersey Bankruptcy Attorney, Lee Perlman. Originally published here by lifehacker.com It’s no secret that debt collectors will resort to some shady tactics to get money out of you, but what’s worse is when someone posing as a debt collector tries to get you to cough up cash you may not owe. The […]

By Gail Hillebrand Debt collection is the top complaint we’ve received since September 2013. Out of all debt types, medical collections make up 52 percent of collection accounts on credit reports, far outpacing all other types of debt. Medical collections are so widespread, that an estimated 43 million consumers with an account in collection have […]

Submitted by Lee Perlman, New Jersey Attorney. When Camilla Vásquez and her husband, Rubén, went to a dealership to shop for a new car last June, they found the salesman affable and low-key. To their surprise, Dr. Vásquez said, the hard sell began after the deal was sealed. That’s when the salesman pulled out a […]

  If you’re like a lot of Americans and need to build or rebuild your credit score, then a secured credit card is a good option for two big reasons. Unlike standard credit cards, secured cards generally don’t require a stringent credit check (i.e. you can usually have a very low credit score and still […]

A personal bankruptcy stands out as a conspicuous blemish on a consumer’s credit report for as long as 10 years. But the barrier it presents to obtaining a mortgage doesn’t have to last that long. Many individuals who sought bankruptcy protection during the recent recession, which officially ended in 2009, may now be eligible to […]

NEW YORK – Many thousands of Americans who lost their homes in the housing bust, but have since begun to rebuild their finances, are suddenly facing a new foreclosure nightmare: debt collectors are chasing them down for the money they still owe by freezing their bank accounts, garnishing their wages and seizing their assets.By now, […]

Originally published in the New York Times here.   Credit Golden Cosmos NOBODY likes debt collectors. But a great many of us have to deal with them. A recent study by the Urban Institute found that roughly one-third of all Americans have a debt in collections reported on their credit file. For many debtors, that […]

Millennials are far more likely than older adults to make do without credit cards. More than 60 percent of millennials — defined as those age 18 to 29 — said they did not have a single major credit card, according to a survey published this week by Bankrate.com. In contrast, 35 percent of adults over […]

The offers stuffing your mailbox can sound enticing: Transfer a balance from a high-rate credit card to a new card and pay no interest for six months, a year or even longer. If you’ve been struggling to pay off credit card debt, such offers can help you pay off your balance, at no cost, over […]

  One afternoon in October 2009, a former banking executive named Aaron Siegel waited impatiently in the master bedroom of a house in Buffalo that served as his office. As he stared at the room’s old fireplace and then out the window to the quiet street beyond, he tried not to think about his investors […]

If you are struggling with student loans that you took out before October 2007, there is a new, more generous option in the works that may help you manage your debt payments. In June, President Obama signed an executive order that expanded the “pay as you earn” program, known as PAYE. The program caps monthly […]

The creator of one of the most widely used and influential credit scores, FICO, said on Thursday that the latest version of its score would no longer weigh medical debts — which account for about half of all unpaid collections on consumers’ credit reports — as heavily as it did in previous iterations. The newer […]

Both are readily available for purchase online, but figuring out which is most accurate can be daunting. The advice from most mortgage professionals to first-time home buyers is to begin sprucing up their credit at least six months before applying for a loan. Credit scores and credit reports are readily available for purchase online, but […]

Submitted by New Jersey Bankruptcy Attorney, Lee Perlman. Originally posted here by the Huffington Post. A federal watchdog is suing a collection agency that allegedly operated like a “factory” churning out lawsuits against cash-strapped borrowers, often using misleading, deceptive and illegal practices. The suit is the latest effort by regulators to crack down on debt […]

Published in the New Haven Register here. In this July 18, 2013, photo, U.S. Sen. Tom Harkin, D-Iowa, chairman of the Senate Education Committee, announces to reporters that a bipartisan agreement was reached on rates for government student loans in Washington. From left are Sen. Tom Carper, D-Del., Harkin, Sen. Joe Manchin, D-W.V., Sen. Angus […]

Jacob J. Lew, center, the Treasury secretary, met with homeowners, housing counselors and counseling clients at the Greater Washington Urban League in Washington on Thursday. Credit Daniel Rosenbaum for The New York Times The Obama administration will take further steps to ease foreclosures, rising rents and scarce mortgages, Jacob J. Lew, the Treasury secretary, said […]

Originally published in the Money Advisor section of the New York Times, here. Submitted by New Jersey Bankruptcy Attorney, Lee Perlman It has been nearly four years since rules went into effect to help clarify when banks may charge you penalties if you overdraw your checking account using your debit card. But many people remain […]

By ADAM DAVIDSONJUNE 20, 2014 Adrianne Smith, 28, graduated from the University of Central Florida in 2008 and went to work as a behavioral analyst treating children on the autism spectrum. She was quickly making more than $60,000 a year, but in order to earn that money, “I had a huge caseload,” she said, handling […]

By JESSICA SILVER-GREENBERG and MICHAEL CORKERY June 15, 2014 9:00 pm Originally published in the New York Times. Jake Naughton/The New York TimesCharlette Williams in Queens found that records of past bank overdrafts prevented her from opening a new account. In her early college years, when Charlette Williams started routinely mismanaging her finances and pushing […]

This week, President Obama ordered changes to the federal student loan program that could help millions of borrowers make their payments more affordable starting in December 2015. In a short speech in which he used the word “outrage” twice, he noted that he and his wife, Michelle, paid off their own student loan debt only […]

Student Loans Make it Hard to Rent or Buy a Home Photo  Tierney Cooke and Oliver have at last found a place to live in Bedford-Stuyvesant, Brooklyn. Both student debt and the dog have hampered her housing searches in New York. Credit Karsten Moran for The New York Times For young people, moving to New […]

Submitted by New Jersey Bankruptcy Attorney, Lee M. Perlman. Originally published here. So you’ve got your financial act together, but your soon-to-be-spouse doesn’t. You love your partner, but you’ve worked hard to get your finances in order, and you don’t want to be responsible for their past mistakes. Here’s how you can protect yourself from […]

Given the current climate of the housing market in New Jersey many homeowners are finding themselves with mortgages far greater than the current fair market value of their property. Many of these homeowners are unable to get out from under the water and soon find themselves facing the very real possibility of foreclosure once they […]

Submitted by New Jersey Bankruptcy Attorney, Lee M. Perlman. READING, Ohio — The last time Brian Page had to file the paperwork to evict a tenant from a rental property he and his wife own, he noticed all the check-cashing services and pawn shops on his drive home from the courthouse. A clerk tipped him […]

Submitted by Lee M Perlman, New Jersey Bankruptcy Attorney. Originally published in the New York Times. The choice between buying a home and renting one is among the biggest financial decisions that many adults make. But the costs of buying are more varied and complicated than for renting, making it hard to tell which is […]

Submitted by New Jersey Foreclosure attorney Lee M Perlman. Originally published in the Washington Post by Emily Badger (Marcio Jose Sanchez/AP) The foreclosure crisis increasingly looks like a public health crisis, too. Researchers have connected foreclosures to depression, stress-related illnesses and spikes in emergency room visits. Last week, The Washington Post’s Dina elBoghdaddy wrote that […]

Recently a trade college in Indiana found itself the subject of a law suit for their alleged use of predatory student loans and unethical tactics used in order to ensure repayment of the loans. The Indiana based school boast some of the highest tuition rates in the country in the private for profit education industry. […]

Debt collectors are pursuing one in seven Americans—and often screwing up Last month, Amrit Singh, an adjunct professor at Hostos Community College in the South Bronx, received a letter from the New York City Marshal, advising him that he owed $10,000, due within 20 days. If Singh did not pay, the letter said, money would […]

By JESSICA SILVER-GREENBERG originally posted here Jim Wilson/The New York TimesIsabel Santos says she spends her evenings huddled over stacks of foreclosure notices on her parents’ home. The only solace for Isabel Santos as she spends her evenings huddled over stacks of yellowed foreclosure notices is that her parents are not alive to watch their […]

When filing for bankruptcy, whether it be Chapter 7 or Chapter 13, every client should be aware of the potential of being hauled to court to litigate issues surrounding the bankruptcy. At times the process of bankruptcy can be simple however more often the process can be complex when the opportunity to file an adversary […]

Insolvency can leave a homeowner with little hope and few options of ever meeting their financial obligations to their lenders. Given the ongoing foreclosure crisis in North Jersey, it may be appropriate to mention two avenues in which lenders and homeowners can deal with the populaces increasing inability to pay off their debts. Two methods […]

By ELISABETH ROSENTHAL MARCH 8, 2014 LIKE most people, I am generally vigilant about paying my bills — credit cards, mortgage, cellphone and so on. But medical bills have a different trajectory. I (usually) open the envelopes and peruse the amalgam of codes and charges. I sigh or swear. And set them aside for when […]

In a recent case to come out of the Third Circuit a Chapter 7 debtor was able to void several significant judgment liens in  property he jointly owned with his wife as tenants by the entirety. At stake in this case were two properties: The debtor’s home worth over $150,000 A commercial property worth $55,000 […]

What Types of Fraud Exist in Bankruptcy? A fraud regarding debt is one where debt is obtained knowingly through false pretenses upon which the creditor relied to grant the credit; alternatively, taking on debt with no intention on repaying also counts, i.e., running up purchases. 11 U.S.C. § 523. Attempts to discharge such debt should […]

By JESSICA SILVER-GREENBERG and MICHAEL CORKERY Daniel Rosenbaum for The New York Times Wanda Darden, at home in Riverdale, Md. Her mortgage has bounced among three loan servicers, leading to increasing mix-ups. “I either get conflicting answers or no answer at all,” she said. A growing number of homeowners trying to avert foreclosure are confronting […]

In a recent case a creditor was held liable for willfully violating the automatic stay of a debtor who had recently filed chapter 13 reorganization plan. The peculiar thing about this case is that the creditor violated the automatic stay through inaction rather than committing some type of act that would be a clear violation […]

  Naureen Hassan, a senior vice president at Charles Schwab, said that Schwab was completely revamping how its advisers wire money for clients. Peter DaSilva for The New York Times   Data breaches at Target and Neiman Marcus were certainly scary. Personal information from tens of millions of people fell into the hands of cybercriminals. […]

It is well known throughout the legal community that when a debtor files for bankruptcy everything surrounding the bankruptcy comes to a halt. This includes any other cases or hearings that are brought in state court or otherwise. In a recent case an overzealous creditor learned the consequences of pursuing litigation against a debtor who […]

The Tale of a House, and an Entire Market By SHAILA DEWAN and CATHERINE RAMPELL The history of 12204 Backus Drive in Bowie, Md., is in many ways the history of the American housing market over the last two decades.     This four-bedroom home in Bowie, Md., has sold several times since 1990, at […]

Flood Ebbs, Insurance Woes Don’t The mayor of Hoboken, N.J., isn’t the only one complaining that her Hurricane Sandy relief money has been held hostage. Some homeowners whose properties were damaged by the storm would say the same about their flood insurance carriers: More than a year after the hurricane struck the East Coast, there […]

Settlement is an important aspect of just about every area of law. In many cases it is a more beneficial to both the debtor and the creditor, allowing the debtor to pay a smaller sum than originally owed and allowing the consumer to get a significant amount of the money they are owed while incurring […]

In a recent Chapter 13 case, a Trustee’s motion to modify a debtors confirmed plan to include a debtors post petition inheritance was granted. The debtor with a monthly income of $2,096, who had unsecured debt amounting to more than $20,000, had notified the bankruptcy court that he would be receiving between $25,000 and $40,000 […]

Like most people, I wasn’t born with a silver or gold spoon in my mouth. And I didn’t get everything I wanted with a “snap of my fingers.” In fact, it was Christmas 1979 that my dad was laid off from his job in the auto industry. He was laid off for seven and half […]

What is a Bankruptcy Estate? That’s a great question! First, remember that bankruptcy is a formal legal process that stops your creditors from collecting payment directly from you. Filing bankruptcy creates an imaginary barrier around all your assets. Everything inside the barrier is called the bankruptcy estate.  Section 541 of the Bankruptcy Code defines the […]

The largest financial commitment that many new parents make is also the most emotional: choosing a full-time caregiver for your child as you head back to work. As many parents know all too well, it’s a giant expense, often second only to housing costs. Many families pay the equivalent of college tuition, and that’s not […]

Ivan Pierre Aguirre for The New York Times A business offering short-term loans near Fort Bliss in El Paso, Tex. Interest rates on such loans can reach as much as 80 percent. Petty Officer First Class Vernaye Kelly winces when roughly $350 is automatically deducted from her Navy paycheck twice a month. Month after month, […]

Gretchen Ertl for The New York Times Jenner Barrington-Ward says that she has been told, “point-blank to my face, ‘We don’t hire the unemployed.’ ” On a cold October morning, just after the federal government shutdown came to an end, Jenner Barrington-Ward headed into court in Boston to declare bankruptcy. It took weeks to put […]

If you want to make sure your personal information isn’t at risk from identity thieves, you can ask to have a security freeze placed on your credit file at the three major credit bureaus — Experian, Equifax and TransUnion. That prevents lenders or credit card companies (that you aren’t already doing business with) from gaining […]

Originally posted by Adam Levin here For many people, managing finances feels like an overwhelming task. Our lives are incredibly busy as it is, and folks in my line of work tend to throw around acronyms and jargon until too many people just throw their hands up in despair. It all can seem so overwhelming […]

In bankruptcy proceedings such as Chapter 7 liquidation, the debtor must often surrender certain property that is subject to a lien. However in such circumstances that property may be of paramount importance to the debtor and their continuing well-being. An example of such property would be the debtor’s automobile. Like most Americans today accomplishing your […]

Originally published in The New York Times By LISA PREVOST Published: October 31, 2013 A temporary change in a federal loan program for the rehabilitation and repair of houses may provide a new option for financing repairs to homes damaged a year ago by Hurricane Sandy. The Federal Housing Administration’s 203(k) loan program covers purchase […]

In a Chapter 7 Bankruptcy, what generally occurs is that a debtor’s assets are liquidated and the proceeds of the sale go to the repayment of their creditors. However under both Federal Law and State Law a debtor can claim a number of exemptions based on the type of assets that are being liquidated. Under […]

Originally published in the Bankruptcy Law Network here It’s an old saying among bankruptcy attorneys that their clients should have seen them at least a year ago. If they did, they wouldn’t have done all of the things that cost them lots and lots and lots of money: Taking money out of retirement programs to […]

By Tara Siegel Bernard In an ideal world, a master class available to everyone would reveal all the secrets to retirement planning, telling you how much to save, where to invest and what to do when the stock market crashes. After all, there are few entirely conflict-free places where investors can educate themselves on the […]

By JESSICA SILVER-GREENBERG The dentist set to work, tapping and probing, then put down his tools and delivered the news. His patient, Patricia Gannon, needed a partial denture. The cost: more than $5,700. Ms. Gannon, 78, was staggered. She said she could not afford it. And her insurance would pay only a small portion. But […]

I look forward to the day when we no longer need to warn senior citizens about scams designed to separate them from their hard-earned money. I’m not holding my breath, however. According to the FBI, senior citizens make attractive targets for con artists for a variety of reasons: They’re more likely to have a nest […]

I recently got a phone call from a client. She got a letter from her mortgage company giving her the “opportunity” to reaffirm her mortgage. She wanted to know whether she should do this. I told her, “Absolutely not.” In the overwhelming majority of cases, it makes absolutely no sense to reaffirm a mortgage debt. […]

Robert Neubecker By TARA SIEGEL BERNARD When you can drive a car off the lot with that new car smell for a mere $199- or $299-a month-lease, many consumers can’t help asking: How can I afford not to take this deal? After all, if your family is already paying for cable television and a couple […]

A recent case has left a debtor who has received a discharge pursuant to a Chapter 13 plan saddled with a significant amount of old tax debt. The Bankruptcy Court recently dismissed a debtors complaint and held that their tax debt was unaffected by the bankruptcy because “the lien was not addressed and treated in […]

Originally posted by NPR What’s the point of an allowance? For Ron Lieber, personal finance writer for The New York Times, it’s a tool to help teach values and character traits like patience, moderation, thrift and generosity. And Lieber, who’s writing a book, , about kids, money and values, tells Morning Edition host Steve Inskeep […]

In a recent case in the Third Circuit the Bankruptcy Court ordered Commonwealth Financial Systems (CFS) to pay damages in the amount of $88,480 for violating an automatic stay and discharge injunction. 4 Years prior to the debtors filing for Chapter 7 Bankruptcy, CFS obtained a judgment for the amount of $23,307.49 against her. Following […]

Jim Winn for The New York Times Travis and Stephanie Gay are special education teachers who participated in a state debt forgiveness program. By ANN CARRNS Published: September 10, 2013 in The New York Times Raha Wala, a 30-year-old lawyer for an international human rights organization, is facing $200,000 in student loan debt. But if […]

Originally published here by The New York Times. By TARA SIEGEL BERNARD Published: September 6, 2013 The spigot on reverse mortgages has been slowly tightened over the last several years. Borrowers can no longer tap as much of their home equity as they could before the housing crisis. Now the rules are about to change […]

Earlier this year a Wisconsin Bankruptcy Court decided that debtor Bradley A. Mhyre was entitled to have his student loans discharged in bankruptcy under the Brunner Test for determining undue hardship. In 1994 Mhyre sustained a neck injury that left him paralyzed from the chest down leaving him limited use of his shoulders and arms. […]

The Greater Vineland Chamber of Commerce (GVCC) wants to make you aware of a new program to help homebuyers, particularly those impacted by Superstorm Sandy. The New Jersey Housing and Mortgage Finance Agency (HMFA) has recently launched the Sandy Homebuyer Assistance Program, providing up to $50,000 in forgivable mortgage assistance to qualified borrowers seeking to […]

by Cathy Moran, California Bankruptcy Lawyer The GetOutOfDebt guy is my hero. He’s not quite as swashbuckling as Batman and Superman. Not as suave as Elliot Ness, battling crime gangs. But he’s fighting for a better world, nonetheless. He fights Debt, a blight on too many in our squeeze-the-middle class, consumer society. Steve Rhode  sings […]

Need money fast? Hope you don’t mind an annual interest rate of nearly 700 percent. By Paul Kiel on Wed. August 7, 2013 3:00 AM PDT Originally published at http://bit.ly/19eP4WD Thomas Hawk/Flickr This story first appeared on the ProPublica website and in the St. Louis Post-Dispatch. In 2008, payday lenders suffered a major defeat when […]

A version of this article appeared in print on 07/31/2013, on page A1 of the NewYork edition with the headline: Million Denied Bank Accounts For Past Errors. Published originally in the New York Times. Chang W. Lee/The New York Times Tiffany Murrell, who had a $40 overdraft in 2010, was rejected repeatedly for an account. […]

PORTLAND, Ore. (AP) — A federal jury in Oregon awarded $18.6 million to a woman who spent two years unsuccessfully trying to get Equifax Information Services to fix major mistakes on her credit report. Julie Miller of Marion County was awarded $18.4 million in punitive damages and $180,000 in compensatory damages, though Friday’s award against […]

After bankruptcy, you can use all the help you can get when it comes to maximizing your chances for a new loan. Don’t let your old mortgage get in the way of refinancing or getting a new loan. When you file for bankruptcy and get a discharge of your debts, you’re no longer personally liable […]

Laura Pedrick for The New York Times Bradly D. Swartz, of Meshoppen, Pa., said his credit was ruined by telemarketers who emptied his checking account. The pitch arrived, as so many do, with a friendly cold call. A Vulnerable Age Articles in this series are examining financial challenges and pitfalls faced by older Americans in […]

You finally found your soul mate — someone who is sympathetic, nurturing, loving and caring. You’re ready to tie the knot. But before you say, “I do,” can you honestly say, “We did?” No, I’m not talking about that. I am talking about the talk. Not the one about sex and family but rather the […]

By GARY RIVLIN Published: May 11, 2013   THE first couple of times Alfred J. Carpenter was turned down for a job, he didn’t know what to think. He been laid off early in the recession and then had the bad fortune of tearing tendons in his knee just when he didn’t have health insurance. […]

My Dad Passed Away — Does My Mom Have to Pay His Credit Card Debt? “Dear Steve, Dad recently passed away. He had one credit card in his name, with mom as an authorized user. Balance on the card is approx 10K. All assets were put in mom’s name months ago in case she passed […]

Jennifer and Scott Bartone set aside a full day to fine-tune finances and make headway on the money-related tasks that never seem to get done. By TARA SIEGEL BERNARD Published: April 26, 2013 Jennifer and Scott Bartone were married in October after a seven-year courtship. But they did not have a serious conversation about money […]

Joe Raedle/Getty Images Many Florida residents are still struggling to recover from the wave of foreclosures. By NEIL REISNER Published: April 15, 2013 in the New York Times The man who delivered the foreclosure papers was all business. He met my wife, Ruth, in the driveway as she was bringing the kids home and gave […]

Parents who take out federal Parent Plus loans to help pay for their children’s college education typically don’t qualify for some breaks available to student borrowers themselves, like repayment options that take their income into account. But Mark Kantrowitz, a financial aid expert, says there is a workaround available that may help some parents, especially […]

Published: March 28, 2013 Is prepurchase counseling an effective way to prevent buyers from taking on more house than they can afford? A new study from NeighborWorks America, a community development agency, links buyer counseling to significantly lower default rates. In an evaluation of 75,000 mortgages originated from 2007 to 2009, NeighborWorks determined that borrowers […]

When you sign up for a credit card, you’re making the credit-card company a life partner. It knows where you shop, when, what you buy, whether you pay your debts on time and if you’re a sucker for a balance-transfer offer that leads to high interest rates. It knows a lot more than the credit […]

A Simpler Way to Complain About Student Loan Collections By ANN CARRNS Agence France-Presse — Getty Images A woman in Los Angeles protests against the high cost of student loans in September. Borrowers who run into trouble with their federal student loans should have an easier time filing complaints about private collection agencies that work […]

It doesn’t happen often, but occasionally you can catch a mistake on a restaurant check or a miscalculated receipt from the grocery store. Hospital bills, however, are another matter: as many as 8 out of 10 bills for health care services contain errors, according to Medical Billing Advocates of America. Since Americans spend nearly $7,000 […]

I have just returned from the FDCPA Fair Debt Collections Practices Act Seminar sponsored by NACA, The  National Association of Consumer Attorneys in Baltimore. I also got to enjoy the Inner Harbor a bit, even with the brisk weather! As many of you know, there is truly no love lost in New Jersey, or nationally, […]

What you don’t know might hurt you. That is a key conclusion that jumps out from a recent Federal Trade Commission study on errors in credit reports, those all-important records that determine whether we get credit, what interest rates we pay and sometimes whether we get a job. In the FTC study, 262 of the […]

I am pleased to announce that Nicolas Pedone has joined our firm as our newest associate. My team welcomes him to the office.  I have included his bio here.   Nicolas B. Pedone is a graduate of Rutgers University School of Law – Camden and is licensed to practice law in New Jersey, Pennsylvania and […]

Join Us on Friday February 22, 2013 12:00PM – 2:00PM: Seminar and Presentation 2:00PM- 3:00PM: Roundtable Discussion (*Space is Limited) Location: Beneficial Bank 1901 Marlton Pike, East Cherry Hill, NJ, 08003   Learn the steps you need to take to secure your business for the New Year! Are you covered on all bases? We bring […]

Camden County Bar Association Lunch & Learn Debtor/Creditor Committee Luncheon Wednesday, March 6, 2013 ~ Noon Tavistock Country Club ~ Haddonfield New Jersey & Pennsylvania MCLE Approved Service Provider — YOUR Trusted CLE Source! “Post Discharge Credit Reporting Issues”           Lee M. Perlman Esq. Law Offices of Lee M. Perlman *Open […]

  By RON LIEBER Published: January 25, 2013 in The NY Times If you have ever disputed a charge with your debit or credit card company, you know what a potent weapon this type of complaint can be. The card issuer generally takes your word against the merchant or service provider at the outset, restores […]

Wealth Matters Niko J. Kallianiotis for The New York Times Joseph Wilbur of Forest Hills, Queens, encountered problems when he said he wanted to close his mortgage quickly. By PAUL SULLIVAN Published: January 18, 2013 THE housing market in the United States is starting to show signs of improvement. Mortgage rates remain low. New construction […]

Life in the Red A Time to Fight: Faced with the foreclosure of her home, Detroit resident LaKeisha Tuggle devised creative solutions to weather economic hardship. DETROIT — The belt-tightening was the easy part. Cancel the cable. Skip the air conditioners. Ration the cellphone, unplug the wireless Internet, cook rice and beans — done, and […]

By Danielle Douglas, Published: January 10 Checklist for potential home buyers If you are considering buying a home next year,there are a few things you might want to consider now that the government has issued new mortgage-lending rules. More on this Story New mortgage rules could benefit small banks New rules: A checklist for consumers The […]

What I Learned the Hard Way About Leasing a Car By MARC FRONS The Infiniti that the writer leased.   The Internet is undoubtedly the great leveler between buyers and sellers. With a few clicks of a mouse or a swipe of your finger, you can comparison shop for items like consumer electronics and patio […]

SECURING YOUR BUSINESS FOR THE NEW YEAR SEMINAR & ROUNDTABLES   Join us on Friday February 22, 2013… 12:00PM-2:00PM    Seminar & Presentation 2:00PM-3:00PM      Roundtable Discussion (*Space is limited) Learn the steps you need to take to secure your business for the New Year!  Are you covered on all bases? We bring you a lawyer, an IT specialist, a financial […]

Child’s Education, but Parents’ Crushing Loans Gretchen Ertl for The New York Times “Jenni feels the guilt and I feel the burden.” Michele Fitzgerald, in debt for the loans she took out for her daughter Jenni’s college education. By TAMAR LEWIN When Michele Fitzgerald and her daughter, Jenni, go out for dinner, Jenni pays. When […]

Reconsidering Flood Insurance By SUSAN STELLIN IN the aftermath of Hurricane Sandy, homeowners and renters who have insurance are discovering what it covers — and what it doesn’t — while those with minimal or no insurance may be recalculating their risks. Phil Marden As images of waterlogged houses continue to dominate the news, the biggest […]

  After the Storm: Your Homeowner’s Claim Tom Mihalek/Reuters Mark Baronowski shoveled sand from the living room of a beach front property in Bay Head, N.J., last week. Many victims of Hurricane Sandy are novices when it comes to catastrophic insurance claims. There is a sort of honeymoon period that occurs after a big storm […]

It’s no secret that medical bills in collection can ruin your credit. In fact, it may lower a score by “100 points or more” for someone with a spotless credit history, according to FICO. As tens of millions of Americans are paying off medical bills over time, the potential for damaged credit is great. Many government […]

It’s one thing to be harassed about an unpaid bill. It’s another thing to be harassed about a bill you never actually owed. Brandy De Alba, a California resident, says she canceled her alarm service with CastleRock Security in 2009, yet last year she began receiving letters from debt collectors claiming that she owed the […]

If you are experiencing anxiety about paying bills and meeting your monthly financial commitments don’t miss Lee Perlman’s discussion on managing stress in a tough economy.  After attending you will be more prepared to cope with money issues, learn to feel positive again,  and gain control of your budget. Friday October 19th 3:00 PM Grow […]

Financially Strapped? There’s Help 80% of Americans on the East Coast identify money as a significant source of stress in their lives, according to the 2011 American Psychological Association, Stress in America Survey. And, while the economy, housing market, and job markets remain significant concerns for many, personal finances remain the most common concern for […]

The interview with Daniel Gross begins here: Many people have questions about the credit scores generated by Fair, Isaac & Co. Today on Tech Ticker, Aaron Task and I figured we’d take our questions straight to the source: Mark Greene, chief executive of Fair, Isaac & Co., creator and proprietor of the FICO score. “The […]

By Christine Dugas, USA TODAY Staci Schubert’s career has taken her from New York to California, from graphic designer to website designer to sales executive. Most recently, she launched a business as a designer of handbags and accessories. At 40 and with such accomplishments, Schubert is Middle Class America. She and her counterparts have long […]

New Jersey bankruptcy Article Huffington Post June 11, 2012 By Richard Gaudreau Given the bailout the banks enjoyed at taxpayer expense, it’s ironic how difficult it has become for the ‘little guy’ to take advantage of the only bailout he’s ever going to see — the fresh start promised by filing a bankruptcy. Bank of […]

New Jersey bankruptcy Article The New York Times By VICKIE ELMER May 17, 2012 ONE prescription for avoiding another real estate bubble is that banks tighten up mortgage requirements. Now, a new Federal Reserve report indicates that lenders have indeed been doing just that. A majority of banks are less likely to offer loans to […]

New Jersey bankruptcy Article New York Times By Carl Richards, May 14, 2012 Years ago, my wife and I had dinner with another couple, whom I’ll call Bob and Sue. During the meal, we discussed money, the market and our goals and dreams for our families. Then we started talking about retirement, and that’s when […]

New Jersey bankruptcy Article The New York Times – 5/4/12 By Tara Siegel Bernard When Ray White’s son was about 9 years old, he struck a tree branch while riding his bike. Within minutes, an ambulance whisked him off to the emergency room. The boy recovered, but many months and phone calls later, Mr. White’s […]

New Jersey bankruptcy Article The New York Post By Vicki Elmer April 26, 2012 FOR many recent college graduates, the dream of owning a home may have to be postponed awhile as they first grapple with repaying mounds of education loans. Outstanding student loan debt now totals over $1 trillion, according to a report last […]

New Jersey Bankruptcy Article New York Times – Real Estate By VICKIE ELMER Published: April 19, 2012 THE offers seem like answers to the prayers of a struggling homeowner: a promise of legal tactics to forestall foreclosure, reduce mortgage balances and interest rates, or restore credit. But these so-called mass joinder lawsuits being advertised in […]

New Jersey bankruptcy Article The New York Times By TARA SIEGEL BERNARD With far less money coming in each month, many families have been forced to cut back, borrow money from family and friends and maybe even drain their savings. Millions, too, have lost their homes to foreclosure. And then there is the toll that […]

New Jersey bankruptcy Article The Huffington Post – 2/16/12 By Curtis Arnold According to federal court records, Chapter 7 bankruptcy filings outnumbered Chapter 13 filings by a more than two-to-one ratio in 2011. Home foreclosures and insurmountable medical bills topped the reasons why many Americans are seeking this last resort for debt relief. Even if […]

One in Nine Americans Have Contemplated Bankruptcy, Says New Survey; Personal bankruptcy filings climbing rapidly EAGAN, Minn., Feb. 12 /PRNewswire/ — The ongoing recession — with rising layoffs, home foreclosures and credit defaults — is clearly placing pressure on the finances of millions of Americans. Twelve percent of Americans have either filed or considered filing […]

New Jersey bankruptcy Article The $25 billion foreclosure settlement unveiled Thursday is expected to help many borrowers who are struggling to make their loan payments, owe more than their homes are worth or have lost their homes to foreclosure. But the rules of the deal are complicated and banks have three years to meet their […]

New Jersey bankruptcy Article Bankruptcy and the Bible Dalton Camp proclaimed several years ago that, “having lost its value, money may no longer be the root of all evil; credit having taken its place.” This statement demonstrates the paradox of modern day religion and debt—should our reaction be one of condemnation or one of compassion. […]

New Jersey bankruptcy Article By VICKIE ELMER Published: December 15, 2011 WITH interest rates at historic lows, the expansion of a federal refinancing program could help more homeowners who owe more than their property is worth move out of higher-rate or adjustable loans into something more affordable and stable. The biggest change to the plan, […]

New Jersey bankruptcy Article Article printed in the New York Times, November 8, 20011 By CARL RICHARDS ONE night a few years ago, when the value of our home had collapsed, our debt was out of control and my financial planning business was shaky, I went to take out the trash. There was this enormous […]

New Jersey bankruptcy Article The New York Times By VICKIE ELMER Published: October 20, 2011 REFINANCINGS made up 79 percent of all 2011 mortgage applications as of early October, according to the Mortgage Bankers Association, about the same level as last year but well above the 54 percent average of the last decade. Many of […]

New Jersey bankruptcy Article The New York Times ANN CARRNS Published: October 5, 2011 Identity theft is an anxiety-provoking topic, and one that seems to spawn a lot of hype and misinformation. To help both consumers and businesses sort out fact from fiction, the Consumer Federation of America has opened a new Web site, idtheftinfo.org. […]

New Jersey bankruptcy Article September 27, 2011 By Michelle Singletary The time is limited for homeowners who want to ensure they aren’t hit with a big tax bill because they had to walk away from a mortgage obligation. At the height of the housing crisis, when foreclosures across the country began a troubling increase, Congress […]

New Jersey bankruptcy Article The New York Times By RON LIEBER Published: September 11, 2009 Too many people bought too much house for too many years. Yes, the financial system almost collapsed because mortgage bankers and brokers told lies about loan terms and loosened standards in dangerous ways, and investment bankers packaged those loans into […]

New Jersey bankruptcy Article May 17, 2011, 3:45 pm By TARA SIEGEL BERNARD Credit reports have increasingly become consumers’ passport to the financial world. Whether you want to rent an apartment, get car insurance or apply for a credit card, the data in your credit report will be one of the crucial measures used to […]

New Jersey bankruptcy Article The New York Times By RON LIEBER March 11, 2011 It is the saddest of paradoxes: a government-backed financial maneuver intended to free up extra money for struggling older people turns out to have left some widows and widowers on the brink of foreclosure. This week, AARP sued the Housing and […]

New Jersey bankruptcy Article By TARA SIEGEL BERNARD Published: February 18, 2011 Millions of consumers have fallen out of favor with the credit scoring gods. Some lost their jobs or were just overwhelmed by mounting debt. Others got caught up in the real estate bubble or had major medical bills. Whatever the reason, the rising […]

New Jersey bankruptcy Article By JENNIFER SARANOW SCHULTZ January 13, 2011 The editors of credit card comparison site CardRatings.com recently announced their take on the worst and best credit cards of 2010. The cards rated the worst included those with high rates, high fees and little disclosure while those rated the best “bucked a trend […]

New Jersey bankruptcy Article By RON LIEBER Published: January 7, 2011 One of the more difficult questions of the mortgage collapse was just how much blame individuals should take for signing up for loans they didn’t understand. Yes, many mortgage brokers steered people into harmful products. All sorts of banks, meanwhile, paid the brokers more […]

New Jersey bankruptcy Article THE NEW YORK TIMES By DAVID SEGAL Published: October 31, 2010 When Michael Gazzarato took a job that required him to sign hundreds of affidavits in a single day, he had one demand for his employer: a much better pen. “They tried to get me to do it with a Bic, […]

New Jersey bankruptcy Article Lenders, insurers, landlords and others will charge you more or flat-out reject you if you show up with a low FICO score. Here’s how you may be doing yourself harm. By Jeanne Sahadi, CNNMoney.com senior writer 1. Be a big spender at the wrong time The bigger your total balance as […]

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New Jersey bankruptcy Article By ANDREW MARTIN Published: July 12, 2010 As millions of Americans have fallen behind on paying their bills, debt collection law firms have been clogging courtrooms with lawsuits seeking repayment. Few have been as prolific as Cohen & Slamowitz, a Woodbury, N.Y., firm that has specialized in debt collection for nearly […]

New Jersey bankruptcy Article By RON LIEBER Published: July 9, 2010 There is nothing like an inquisitive child to make you realize just how complicated the topic of money is. That’s what I ended up thinking after my 4-year-old daughter a few weeks ago stomped her feet, turned red and demanded to know why we […]

New Jersey bankruptcy Article The New York Times By Peter S. Goodman Published: June 18, 2010PALM BEACH, Fla. — For the companies that promise relief to Americans confronting swelling credit card balances, these are days of lucrative opportunity. So lucrative, that an industry trade association, the United States Organizations for Bankruptcy Alternatives, recently convened here, […]

New Jersey bankruptcy Article The Wall Street Journal By JEFF D. OPDYKE Maxine McDaniel has a message for Americans considering walking away from an unaffordable mortgage: Beware of taxes. Though not every homeowner who’s underwater on a mortgage need worry, many are finding that a foreclosure or other form of housing loss can lead to […]

New Jersey Bankruptcy Article By PETER S. GOODMAN Published: March 13, 2010 At institutions that train students for careers in areas like health care, computers and food service, enrollments are soaring as people anxious about weak job prospects borrow aggressively to pay tuition that can exceed $30,000 a year. But the profits have come at […]

New Jersey bankruptcy Article By RON LIEBER Published: February 12, 2010 If you’re having trouble figuring out how to raise financially responsible children, you’ll be thrilled with this news: Congress is stepping in to help you set some limits. This month, large parts of the credit card bill that President Obama signed into law in […]

New Jersey Bankruptcy Article By DAVID STREITFELD Published: February 2, 2010 In 2006, Benjamin Koellmann bought a condominium in Miami Beach. By his calculation, it will be about the year 2025 before he can sell his modest home for what he paid. Or maybe 2040. “People like me are beginning to feel like suckers,” Mr. […]

New Jersey bankruptcy Article By TARA SIEGEL BERNARD Published: January 15, 2010 Most everyone needs financial advice. The big question is how much. There are tens of thousands of advisers out there, with varying levels of expertise, who charge varying fees for their services. And professional advice doesn’t guarantee good returns. You need look no […]

New Jersey bankruptcy Article By JENNIFER SARANOW SCHULTZ New York Times Article January 5, 2010, 5:41 pm Do borrowers taking part in the Obama administration’s mortgage modification program deserve a black mark on their credit records? Lenders use special codes to let credit bureaus know what customers are borrowing and whether they’re paying on time. […]

New Jersey Bankruptcy Article By TARA SIEGEL BERNARD Published: December 11, 2009 You may be tempted this season to give in to the plea from that persistent sales clerk at one of the big retailers — “Are you sure you don’t want to save 15 percent today?” — and open up a couple of store-brand […]

New Jersey bankruptcy Article The New York Times FLOYD NORRIS Published: December 3, 2009 Why are so few temporary mortgage modifications turning permanent? One reason may be the same one that a lot of bad loans were made in the first place. Borrowers can declare their income, and the banks are willing to grant temporary […]

New Jersey bankruptcy Article The New York Times By RON LIEBER Published: November 13, 2009 Divorce may be one of the most damaging financial events in the lives of those who go through it, but that isn’t always immediately clear to a couple about to split up. In fact, the first response is probably emotional […]

New Jersey bankruptcy Article The New York Times By RON LIEBER Published: November 2, 2009 On television it’s hard to miss the wildly popular band of slackers singing ruefully from a shabby apartment or while waiting tables in pirate regalia. The ruined credit that led to their financial misfortune might have been sparkling if only […]

Divorce tends to be emotionally gut-wrenching for the people who go through it (not to mention those around them). But most couples don’t realize that divorce can also be among the most ruinous financial moves anyone can make. Sure, you could bet big and lose on a single stock or money manager. Or your small […]

ON Friday we learned that the unemployment rate rose to 9.8 percent last month and that the economy lost 263,000 jobs.  I have been unemployed since February. I have also been incredibly busy. My last job lasted one afternoon. I showed up at a large parking lot in a semi-remote area with a group of […]

What is it with these  banks that are so quick to hit you with a fee for spending more than you have in your checking account but take their own sweet time in crediting deposits? My colleague Andrew Martin and I heard that complaint repeatedly from readers after we wrote about overdraft fees earlier this month. The angry questions happened […]

New Jersey bankruptcy Article Article printed in the Wall Street Journal, September 8, 2009 By KAREN BLUMENTHAL Are you keeping score? Credit scores have been getting a lot of attention lately, as lenders tighten credit standards and contend with new legislation that has, among other things, reined in how credit-card issuers can raise rates. Meanwhile, […]

Teaching people money management skills cannot begin too early.  Learning to manage your money at a younger age can often help people avoid financial trouble as they get older.  Today, children are exposed to money, whether its credit cards or checks, at a much earlier age.  That’s why it’s so important to start teaching your […]

When you apply for a home mortgage, you may think that the lender, or loan originator, will service the loan until it is paid off or your house is sold. However, in today’s market mortgage servicing rights often are bought and sold. The Real Estate Settlement Procedures Act (RESPA) is a consumer protection statute. Sections […]

Click to read the article “Please Turn to Chapter 7:  Still? Still.“ By: Lee M. Perlman

Remember the Obama Administration’s “Making Home Affordable Plan”? The one that promised to help millions of financially strapped Americans who faced foreclosure on their homes by giving incentives to lenders to renegotiate their loans? And remember all the bailout money that the banks got in return for promises that they would do their part in […]

New Jersey bankruptcy Article By REED ABELSON New York Times Article Published: June 30, 2009 Health insurance is supposed to offer protection — both medically and financially. But as it turns out, an estimated three-quarters of people who are pushed into personal bankruptcy by medical problems actually had insurance when they got sick or were […]

Harvard study finds 50 percent increase from 2001, most of those bankrupted by illness were middle class and had insurance EMBARGOED until: June 4, 2009, 12:01 a.m. EDT Contacts: David Himmelstein, M.D. Steffie Woolhandler, M.D., M.P.H. Elizabeth Warren, J.D. Deborah Thorne, Ph.D. Mark Almberg, (312) 782-6006, cell: (312) 622-0996, mark@pnhp.org Medical problems contributed to nearly […]

New Jersey bankruptcy Article By EDMUND L. ANDREWS Published: May 14, 2009 If there was anybody who should have avoided the mortgage catastrophe, it was I. As an economics reporter for The New York Times, I have been the paper’s chief eyes and ears on the Federal Reserve for the past six years. I watched […]

New Jersey Bankruptcy Article By GRETCHEN MORGENSON Published: May 2, 2009 HIGH school seniors, thrilled at receiving fat envelopes from the colleges of their choice last month, must now figure out how to pay for the privilege of attending these institutions. For many, this will mean a journey into private student loan land, where financial […]

New Jersey Bankruptcy Article By RON LIEBER Published: May 1, 2009 This week, yet another Washington debate over who deserves a break on their debts drew to a close. On Thursday, the Senate voted against allowing judges to adjust the terms of the mortgages of people filing for personal bankruptcy. Scratch the surface of the […]

By DAVID STREITFELD Tyna Carter, burdened with $25,000 in credit card debt, did not want to be a deadbeat. After looking for help on the Internet, Mrs. Carter, a West Virginia homemaker, wound up in the hands of a sweet-talking ³credit specialist² from Texas. He claimed his company, Credit Solutions of America, could set her […]

New York Times Article By TARA SIEGEL BERNARD Published: April 17, 2009 They bought into the notion that if they went to college — never mind the debt — their degree would lead to a lucrative job. And repaying their student loans would never be a problem. But the economic crisis has turned those assumptions […]

1. “We’re just waiting for you to screw up.” Many things can bump your credit card interest rate into the red zone, but nothing faster than what’s called “universal default.” You can make all your credit card payments religiously and for a long time, but fall behind on your electric bill and, suddenly, you’re a […]

New Jersey bankruptcy Article The New York Times By BOB TEDESCHI Published: February 6, 2009 MANY consumers are unaware what their credit score is until it’s time to apply for a home mortgage, but by then it is often too late to fix any mistakes that they might uncover in their credit reports. A new […]

To the Editor: It is time to restore fairness to the bankruptcy system and allow government and private student loan borrowers the same bankruptcy protections as consumers with other types of unsecured debt now. Accounts of alleged abuse of the bankruptcy system by student loan borrowers were never really well substantiated. Regardless, the new bankruptcy […]

New Jersey bankruptcy Article The bankruptcy-reform law of two years ago should be renamed the Drive More People Into Bankruptcy Act of 2005. As you probably know, the law sent bankruptcy cases to record highs that year, as nearly 2 million people rushed to file before tough new restrictions went into effect. But the law […]

New Jersey bankruptcy Article Business Week Top News November 1, 2007 Big lenders keep squeezing money out of consumers whose debts were canceled by the courts by Robert Berner and Brian Grow In a financial version of Night of the Living Dead, debts forgiven by bankruptcy courts are springing back to life to haunt consumers. […]

New Jersey bankruptcy Article THE NEW YORK TIMES March 31, 2007 Homeowners, Call Your Bankers Before They Call You By DAMON DARLIN The day of reckoning is near for millions of homeowners who financed their dream house by taking out an adjustable-rate mortgage. Rates are resetting higher, and in some cases, the monthly mortgage payments […]

New Jersey bankruptcy Article Tuesday, January 02, 2007 MEDICAL DEBTS – MY INSURANCE WAS SUPPOSED TO PAY THAT A large portion of my debt collection practice is made up of the collection of past due medical bills. Unfortunately, the vast majority of the people I end up suing for past due medical bills are not […]

New Jersey bankruptcy Article By Eric Dash Published: December 12, 2006 Melody Millett was shocked when her car loan company asked her if she was the wife of Abundio Perez, who had applied for 26 credit cards, financed several cars and taken out a home mortgage using a Social Security number belonging to her actual […]

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New Jersey bankruptcy Article By KATE COSCARELLI STAR-LEDGER STAFF Marlton bankruptcy lawyer Andrew Al tenburg says the part of the new federal bankruptcy law requiring he call himself a “debt-relief agency” is offensive. Michael Schwartzberg, who handles a couple hundred bankruptcy cases each year from his Bloomfield office, thinks it’s ridiculous. And at the mere […]

New Jersey bankruptcy Article Come Sept. 1, debt-laden Americans everywhere can find out what creditors really think of them. On that date, residents of the Northeast will be able to order free copies of their credit reports by logging on to annualcreditreport .com. People on the West Coast got access last December and the availability […]

New Jersey bankruptcy Article The tricks of the trade are limited only by the imagination of the lender – certainly not by federal regulations. And they’re all conceived with one end in mind — big profits, not helping you. Fairness to the borrower just isn’t part of the equation. 1. YOUR CREDIT’S BAD. So you […]

New Jersey bankruptcy Article A report issued by the FBI in May of 2005 on mortgage fraud I. General Overview The increased reliance by both financial institutions and non-financial institution lenders on third-party brokers has created opportunities for organized fraud groups, particularly where mortgage industry professionals are involved. Combating significant fraud in this area is […]

New Jersey bankruptcy Article Article printed in Accounting Today A legacy of Terri Schiavo: More interest in living wills By Pamela H. Woldow It is common to parody accountants as tightly wrapped number-crunchers oriented more toward dollars than human emotions, religious beliefs, moral debates and political controversies. Among the Babel of commentators seeking a pulpit […]

New Jersey bankruptcy Article By THE ASSOCIATED PRESS Published: April 4, 2005 Filed at 10:48 a.m. ET WASHINGTON (AP) — The Supreme Court on Monday ruled that creditors may not seize Individual Retirement Accounts when people file for bankruptcy, giving protection to a nest egg relied upon by millions of Americans. The unanimous decision sides […]

New Jersey bankruptcy Article Article printed in the New York Post, April 12, 2004 By ANDREW JACOBS MOUNT POCONO, Pa. — Dazed with exhaustion, Angela Dean takes a third swipe at the snooze bar and then realizes she cannot afford another 10-minute reprieve from reality. It is 3:30 a.m., and there is laundry to be […]

New Jersey bankruptcy Article Article printed in the New York Post, April 11, 2004 By MICHAEL MOSS and ANDREW JACOBS ( Series ) 6326 words STROUDSBURG, Pa. — Ethel Davis first glimpsed her luminous future in 1997 when she saw a television ad that offered a vision of a green, secure world that had seemed […]

New Jersey bankruptcy Article December 21, 2003 By STEPHEN MIHM Stephen Massey was only a few minutes late, yet he apologized profusely as he strode into the lobby of a crowded restaurant in downtown Eugene, Ore. ”I’m very punctual about my time,” he said, clasping my hand in a firm shake. With his freshly combed […]

New Jersey bankruptcy Article Article printed in the New York Times, October 14, 2003 By JENNIFER BAYOT he Internal Revenue Service is investigating the business practices of nonprofit credit counseling services, which advise millions of people in debt. The investigation could jeopardize the agencies’ nonprofit status and upend the industry just as a proposed change […]

New Jersey bankruptcy Article Article printed in the New York Post, September 14, 2003 By Karen Alexander JEFF HALPERN had changed jobs a half-dozen times since receiving his M.B.A. from the Stanford Graduate School of Business in 1991, but the latest change was different. His position at a start-up energy trading company disappeared in the […]

New Jersey bankruptcy Article By JAY ROMANO The New York Times, July 27, 2003 MORTGAGES guaranteed by the Department of Veterans Affairs have traditionally been regarded by residential specialists with less than high enthusiasm, but these loans offer characteristics — notably a zero-down-payment option and an ability to be passed on to a subsequent buyer […]

New Jersey Bankruptcy Article FOR IMMEDIATE RELEASE April 9, 2003 Deanne Loonin, NCLC, 617-542-8010 Travis Plunkett, CFA, 202-387-6121 FIRST-EVER STUDY OF CREDIT COUNSELING FINDS HIGH FEES, BAD ADVICE AND OTHER ABUSES BY NEW BREED OF “NON-PROFIT” AGENCIES –Credit Card Company Practices Have Helped Create Counseling Crisis– Washington D.C. – As more Americans seek assistance for […]

“The bankruptcy reform bills now before Congress and already backed by the banking industry, are bad for consumers. One of the bills has already passed the House of Representatives, even though it is not supported by bankruptcy judges, law professors bankruptcy lawyers. The bankruptcy bills now before Congress give certain credit card debt priority equal […]