Personal Bankruptcy Archives

New Jersey personal bankruptcy often comes from medical bills

Like many people in New Jersey, others across the country believe that most bankruptcy filings come as a result of high debt amounts that accumulated when people engaged in such behavior as obtaining credit cards. However, one recent report notes, as many as three out of every five personal bankruptcy filings in our nation come from medial debt. This number represents a small decrease in the number of such filings this year.

New Jersey personal bankruptcy an option for those in need

Readers in New Jersey know that the recent recession was tough on people in the home building industry. As home values fell and construction rates slowed, many found that they were unable to repay the debts that they owed. This led some to seek the protections offered by a personal bankruptcy.

New Jersey personal bankruptcy an option when jobs aren't

Communities in New Jersey, especially small and rural ones, often seek to have companies relocate to their region in an effort to create jobs and economic success for their communities. In many cases, the companies promise a great number of jobs for those who live in the town. When the promises are kept, towns are able to build and grow. When that does not happen, some find that they cannot repay the debts that they have accumulated while waiting to obtain new employment. This leads to a filing of a personal bankruptcy for some.

New Jersey personal bankruptcy can come when a person gets sick

There are many reasons that people in New Jersey find that they should file for bankruptcy. Often, the reasons include the accumulation of significant amounts of personal debt related to a medical crisis. These debts can come quickly after a diagnosis and can lead to a filing for personal bankruptcy protection.

Art gallery owners face personal bankruptcy

An art gallery that is located in another state is at the center of a case that may be of interest to readers in New Jersey. The gallery owners recently file a personal bankruptcy petition after discovering that their business, though culturally important to their community, was unable to bring a profit. This could have occurred in part due to the recent recession that has affected many across the land.

Personal bankruptcy can limit creditor calls in New Jersey

As people in New Jersey know, it can be difficult to make ends meet when financial pressures mount. This has been true for many families in our state over the past few years as the national recession has raged on. These financial difficulties have led to an expansion in the number of pay day loan operations opening in every state in the nation, including ours. Now one report notes that the opening of these types of stores may also have led some to file for a personal bankruptcy.

Filing for personal bankruptcy can lead to debt discharge

Readers in New Jersey now that when debts become overwhelming, a person often seeks solutions. For many, this solution means a filing for a personal bankruptcy. The good news with such an action is that there are many protections offered by a bankruptcy, including limiting creditors' ability to contact an individual.

New Jersey personal bankruptcy offers alternatives

People in New Jersey who are suffering from a high level of debt may not know that there are several different Chapters of the Bankruptcy Code. In fact, there are two that are commonly used when people in our state file for a personal bankruptcy: Chapters 7 and 13. There are differences between the chapters, including what it takes to be able to use them and how they can protect a person's property when they decide to enter into the bankruptcy process.

New Jersey personal bankruptcy need not slow career growth

The bankruptcy filing of a couple from another state may be of interest to our readers in New Jersey. The couple is well known in their community because they are the Principal and CFO of a growing charter school there. The personal bankruptcy came, at least in part, after the pair found that their home had significantly dropped in value during the most recent economic recession.

New Jersey personal bankruptcy can discharge debts

There are many reasons that people in New Jersey decide that they need to file for a bankruptcy. These include the high debts that some have accumulated over the past few years during the recession. When the amount that is owed is more than a person can repay, they often find that a personal bankruptcy can help.


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