March 3, 2015
As previously discussed, payday loans are referred to as “predatory” loans. These companies target desperate individuals who are in serious financial difficulties. They have run out of all options to borrow money and now must turn to these unscrupulous organizations.
The interest rates range from 24% to 149%. In addition, there is usually an origination fee of 5-10% add to the interest rates. read more…
July 2, 2014
There may be hope for individuals who have student loans. At this time, student loans are not dischargeable .
However, on June 25, 2014, Senate Education Committee Chair Tom Harkin (D-Iowa) introduced legislation that would allow a small portion of Americans’ student loans to be discharged through bankruptcy Court.
Consumer advocates are behind this legislation as well as the banking industry.
The bill’s prospects for passage this year are not looking good given the midterm elections and broad partisan disputes over higher-education policies.
November 26, 2013
New Mediation Program will be instituted for contested NJ Bankruptcies:
There will be a new mediation program implementation set to begin April 1, 2014. This is a court-supervised mediation program to facilitate resolution of contested matters and adversary proceeding for debtors, creditors and parties in interest. read more…
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Timing of Filing Bankruptcy is Key Timing of filing your bankruptcy is very important. There are ...