New Jersey Bankruptcy Law Practice / Lee Perlman

09/07/2026

Could one extra mortgage payment a year save you $68,000? A recent New York Times article highlights how one extra mortgage payment each year could save tens of thousands in interest and shave years off a loan. But the bigger lesson is debt priority matters. Before paying extra on a lower-rate mortgage, consider whether that money should first go toward high-interest credit cards, other expensive debt, or building an emergency fund. The practical takeaway: do not just pay more—pay down the debt costing you the most first.

Homeowners who make extra payments can save thousands of dollars in interest. But, financial experts say, paying down other debt, with higher interest rates, may be a better option.

09/03/2026

Imagine winning thousands of dollars at a casino, losing all of it, and then learning that the winnings may still matter if you file bankruptcy.

It sounds strange, but bankruptcy calculations do not always work like a personal checkbook. The timing of gambling winnings, losses, and the bankruptcy filing can all matter.

This video explains what people with gambling-related debt need to know and why gambling does not automatically disqualify someone from bankruptcy relief.

09/01/2026

Bankruptcy can affect credit, but it does not mean you will never rebuild. Paying on time, monitoring reports, and using new debt carefully can all be part of the process.

08/30/2026

Financial recovery does not need to happen all at once. A small emergency fund, on-time bills, and less reliance on credit can be meaningful milestones.

08/28/2026

If you have spent months paying credit cards and the balances barely changed, asking whether the current strategy is sustainable is completely reasonable.

08/26/2026

If every extra dollar goes toward debt but you still cannot save or make meaningful progress, the problem may not be your budget.

08/26/2026

According to a recent CNN report, personal bankruptcy filings are on the rise, with more than 549,000 Americans filing for bankruptcy in 2025 and filings increasing approximately 25% in just two years. At the same time, average credit-card interest rates have climbed from about 14% to 21% in only four years.

Bankruptcy can be an important legal tool when debt becomes unmanageable. If you’re experiencing financial distress, talking with a bankruptcy attorney doesn’t mean you’re filing bankruptcy—it simply means you’re taking the time to understand your rights, your options, and what may make the most sense for your financial future.

08/24/2026

Halfway through the year is a good time to ask whether your financial plan is actually working. If debt is blocking every other goal, it may be time to reconsider the strategy.

08/20/2026

Sometimes the hardest part about debt is feeling like you are doing everything right and still getting nowhere.

You cut back, make payments, and try to stay disciplined, but interest keeps eating away at the progress. If that sounds familiar, the problem may not be your budgeting. The debt itself may be making it impossible to move forward.

This video explains how bankruptcy may provide a financial reset for some people and what rebuilding can realistically look like after debt relief.

08/20/2026

$35 TRILLION IN HOME EQUITY — YET CREDIT CARD DEBT KEEPS CLIMBING.

Americans are sitting on a record $35 trillion in home equity, while credit-card balances have climbed to roughly $1.25 trillion — up about 6% in just one year.

The concerning part? More homeowners may be looking to their homes to solve their credit-card problems. Turning unsecured credit-card debt into debt secured by your home can have serious consequences.

If debt is forcing you to consider tapping your home equity, it may be time to take a second look at all of your options before putting your home at risk.

A rise in home equity to record levels has led many Americans to refinance their mortgages to pay their bills.