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
For some consumers, bankruptcy is the solution to crushing debt
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 […]
9 Things You Shouldn’t Say to Someone in Debt
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 […]
Navigating the Thickets of Student Loan Counseling
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 […]
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 […]
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 […]
Debt Collection ‘Factory’ Preyed On Broke Americans: Lawsuit
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 […]
Young and in Debt in New York City
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 […]
How to Protect Your Credit When You Marry Into Debt
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 […]
Class Field Trip Stops at a Local Pawnshop
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 […]
