New Jersey Bankruptcy Law Practice / Lee Perlman

10/17/2026

Stopping Credit Card Payments Can Have Serious Consequences

Thinking about stopping your credit card payments because you just can't keep up anymore?

Unfortunately, ignoring the debt won't make it disappear. Late fees, collection calls, and even lawsuits can follow. In New Jersey, creditors may eventually pursue wage garnishments or bank levies after obtaining a judgment.

Before making that decision, it's important to understand your options. Bankruptcy may be one way to address overwhelming credit card debt.

10/15/2026

Thinking about stopping your credit card payments because you're considering bankruptcy? Here's what you need to know first.

When you're juggling multiple credit cards and barely keeping up with minimum payments, stopping altogether might seem like the only option.

But unpaid credit card debt doesn't simply disappear. In New Jersey, missed payments can lead to collection calls, lawsuits, and potentially even wage garnishments.

And if you're considering bankruptcy, how you use your credit cards before filing can matter just as much as when you stop paying them.

Before making a decision that could affect your finances, it's important to understand your options under Chapter 7 or Chapter 13 bankruptcy.

Watch this video to learn why having a plan before stopping your credit card payments can make a difference.

10/10/2026

Being "judgment proof" doesn't mean your debt disappeared.

Someone with very little income or property may have few assets creditors can currently reach. But if your financial situation changes, a judgment may become collectible.

That's why understanding the difference between bankruptcy and other debt relief options matters.

If you're borrowing money to make minimum payments, draining savings, and continuing to fall behind, ask yourself whether your current strategy is actually fixing the problem.

10/10/2026

$500 bats. $10,000 a year. And the players are only 6. A recent Wall Street Journal report highlights how travel teams, private lessons and tournament expenses are pricing families out of youth baseball—and pushing some parents toward credit cards and even second mortgages to keep their children in the game. Supporting a child’s passion shouldn’t mean sacrificing a family’s financial stability.

If you’re struggling to keep up, you’re not alone—and we’re here to help you review your options.

Travel teams, high-end gear and specialized training are turning America’s pastime into a sport for rich kids.

10/08/2026

Debt settlement can sound attractive: owe $10,000 and potentially settle for $6,000.

But there's an important catch. Your creditor does not have to accept your offer.

Interest and fees may continue during negotiations, collection activity can continue, and forgiven debt may have tax consequences depending on your circumstances.

Settlement can be an option, but understand the risks before assuming it will solve the problem.

10/06/2026

A debt management plan may simplify your payments, but you still need to be able to afford the plan.

Through a DMP, a counselor may work with credit card companies to reduce interest or fees while combining what you pay into one monthly payment.

For someone with steady income, that may be worth considering. But if you can't keep up with the monthly payments, you can become vulnerable to collection activity again.

10/03/2026

One payment instead of five sounds great, but debt consolidation doesn't make your debt disappear.

Debt consolidation typically involves taking out a new loan to pay off multiple credit cards. It can simplify your payments, but you're still responsible for the debt.

Whether it makes sense can depend on your credit, the interest rate, and whether the new payment is realistically affordable.

10/02/2026

One of the biggest myths about bankruptcy is that it destroys your credit. In reality, by the time most people consider filing, their credit has usually already been destroyed by missed payments, high balances and collection accounts.

Bankruptcy can stop that cycle and give you the opportunity to start rebuilding. Many of our clients begin rebuilding their credit much sooner than they expected.

Don’t let fear about your credit keep you from considering a financial fresh start. Please let us know if you have any questions after our consultation.

10/02/2026

South Jersey Magazine October issue

10/01/2026

Bankruptcy is not always the best answer when you're struggling with debt.

Depending on your income and ability to realistically repay what you owe, alternatives such as debt consolidation, a debt management plan, debt settlement, or negotiating directly with creditors may be worth exploring.

But each option comes with tradeoffs. Consolidating debt does not eliminate it. Debt settlement is not guaranteed. And if a payment plan becomes unaffordable, collection activity can become a problem again.

If you're borrowing money to make minimum payments, draining your savings, or falling further behind, ask an important question: Is your current strategy actually fixing the problem?

Before committing to another loan or debt relief program, understand how all of your options compare, including bankruptcy.