No one likes being pestered by debt collectors calling at all hours of the day, making empty threats and using language that makes one blush. Fortunately, a federal law known as the Fair Debt Collection Practices Act protects individuals from debt collector and creditor harassment. It also makes it illegal for debt collectors to use unfair, deceptive or abusive tactics to provoke people to pay up.
There are many reasons people find themselves in financial binds. Often, it is not their fault. A job loss, death in the family, major illness or injury or divorce can put a family behind on monthly payments and some are unable to return to solid financial footing after a life-changing event. Too frequently, individuals fail to recognize they are in financial trouble and delay seeking remedies until it is too late.
If circumstances have put you behind the 8-ball, it is best to know your options and to take steps to keep from falling further behind.
Can You Discharge Debt Through Bankruptcy?
Is bankruptcy the answer to your financial troubles? It depends on many factors, including the amount you owe, the nature of your debt and which chapter your bankruptcy is filed under. Some debts are eliminated completely, while other debts cannot be reduced at all through bankruptcy.
When individuals and families in New Jersey are going through tough financial times, it is not rare for them to consider different ways to address their financial challenges. Whether it is due to credit card debt, unemployment or other money problems, our law firm understands that considering one's debt relief options is not only stressful but can be confusing as well. While filing for bankruptcy could be the best option to get a fresh financial start, it is important that individuals understand the process and know what to expect.
Coming to terms with debt is not always easy; however, dealing with debt is more than just addressing financial problems. For some debtors in New Jersey, it also means preventing mistreatment by creditors. Debtors considering filing for bankruptcy should fully understand all the issues that could be addressed by the process as well as how the process will impact them personally.
Debt can be burdensome for consumers in New Jersey and elsewhere in the nation. Debt can impact an individual's personal life in several ways. Debt can cause stress and a number of other problems. Some individuals have even decided to hold off getting married so that they do not enter the union with a large amount of debt.
How can individuals eliminate debt before marriage? While several debt relief options are available, four tips can help people manage their debt so that it does not negatively affect marriage plans.
Many times there are alternatives to bankruptcy. You should educate yourself on bankruptcy and see if it is a viable alternative for you. The best way is to speak to a bankruptcy attorney to determine your various options. There are times when a person should not file bankruptcy because the consequences may not be worth the risk of filing bankruptcy.
Understanding and employing proper and healthy spending habits is not always easy. Even when consumers in New Jersey and elsewhere are aware of the dangers of accumulating credit card debt, this does not always help prevent credit card debt from plaguing him or her. Various life events such as unemployment or medical problems could lead an individual to max out credit cards. Additionally, these unfortunate events could also make it difficult to make payments on time or even at all.
Dealing with credit card debt is not easy, and our law firm understands that many people seek to get out of consumer debt.
When New Jersey financial problems strike, individuals often seek to take these issues on their own. While it is possible to alleviate small financial hardships on their own, some debt relief options require assistance. When residents in New Jersey seek to reduce or erase their debts, it is important that they are fully aware of their options and how they could affect them. Taking precautions when going through a debt relief process will help ensure that they do not end up in a worse off position.
Unfortunately, some life events can negatively impact an individual's financial health. When a person requires costly medical care or surgery, this can lead to some serious financial challenges. Medical debt can become a huge burden, even when an individual has health insurance. If a deductible is high, it can be difficult to pay medical bills, resulting in overdue medical debt.