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. […]
Rising Veterinary Costs and Their Impact on Pet Owners
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 […]
How Gambling Can Affect Your Life Into Bankruptcy
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 […]
Does Filing for Bankruptcy Mean You Can Never Buy a House?
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 […]
Why Bankruptcy Help Is Personal to Me
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, […]
Navigating the World of Credit
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, […]
Debt Settlement vs. Bankruptcy
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 […]
How Does Bankruptcy Affect Your Client’s Personal Injury Case?
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 […]
Bankruptcy Is a Big Risk for Unmarried Couples Who Split Up
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 […]
Bankruptcy after Mortgage Forbearance and Moratoriums
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 […]
