Consumer Automobile Debt Skyrockets With Rolling Debts

Consumers that borrow money to purchase automobiles increasingly find themselves with debts that far outweigh the value of their cars, according to a new article in the Wall Street Journal. In one noteworthy case, one man found himself with a $45,000 loan on a car worth $27,000. Some commentators have compared this growth of automobile debt to the spate of high-interest mortgages that were common prior to the 2008 housing market crash and are concerned what this high level of debt means for consumers. Continue reading “Consumer Automobile Debt Skyrockets With Rolling Debts”

Medical Bills Remain Biggest Cause of Bankruptcy in US

There is an image that some people hold about people who declare bankruptcy, that they are irresponsible or can’t control their spending habits. However, according to CNBC, medical bills are a key factor in as much as two-thirds of all bankruptcies in the United States based on a recent research study. Unfortunately, this trend of “medical bankruptcy” is nothing new and, according to the study cited by CNBC, has been at roughly the same level for the past decade. Continue reading “Medical Bills Remain Biggest Cause of Bankruptcy in US”

Filing for Bankruptcy in New Jersey

bankruptcy lawyer New JerseyUnfortunately, many individuals across the United States and in the state of New Jersey face extremely difficult financial conditions which significantly affect their way of life. For some, filing for bankruptcy may be the best (or only) option to relieve themselves of their financial burdens. Federal bankruptcy laws allow individuals who qualify to have a fresh start. Continue reading “Filing for Bankruptcy in New Jersey”

How Can Divorce Affect Your Credit Score?

Going through a divorce can be a stressful and challenging time. One impact of divorce that is often overlooked is the impact it can have on your credit score. It is common for individuals going through a divorce to focus on figuring out the details of living their lives separately, but figuring out your now individual finances can be difficult.
Continue reading “How Can Divorce Affect Your Credit Score?”