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 […]
Are unpaid debts a military career-killer?
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 […]
Ask These Questions to Expose a Fake Debt Collector
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 […]
Consumer Advisory: 7 ways to keep medical debt in check
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 […]
The Art of the Amateur Online Review
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 […]
The Quickest Way to Build Credit Using a Secured Credit Card
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 […]
Mortgages After Bankruptcy
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 […]
Americans Face Post-Foreclosure Hell as Wages Garnished, Assets Seized
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, […]
A Debt Collector’s Day
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 […]
The Pros and Cons of Avoiding Credit Cards
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 […]
