Long term savings is it the best option?

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  Well, yes! Keeping your money in a regular savings account is no longer a way to see it grow. Actually, a minimum percentage of earnings is what you get after several months of leaving your money in the closest bank. A long term savings account will for sure give you higher earnings, but before signing up your monthly earnings … Read More

Pay your debt in less time!

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When we have a debt that keeps us stressed and gives us a feeling of weight on our shoulders – what we really want (and should do) is getting rid of it as soon as possible. The first tip to achieve that goal is to make the debt a priority in your budget, create an economy plan around it and … Read More

Happy Labor Day from the Gershfeld Law Group!

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The idea for creating a holiday to honor workers was proposed by either Peter McGuire of the Brotherhood of Carpenters and Joiners Union or Matthew Maguire of the International Association of Machinists (US Department of Labor). The Central Labor Union of New York appointed a committee to organize a picnic and parade in honor of working people. In 2017, we thank … Read More

A loan to pay off debt?

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A lot of solutions presented to people in need of debt relief sometimes sound like a loan to pay off a loan. And, as you struggle through debt from one source, the idea of engaging in a new one doesn’t seem as ideal. But the truth of the matter is that, ultimately, you have options. And you need to know … Read More

Tips to Get Rid of Credit Card Debt

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Everyone has dealt with debt at least once in their life. Most people don’t know where to start to try to get off that debt. If that’s your case, here are some easy tips to help you be one step closer to being debt free. Find out how much you owe! – Find out how much you owe and what your … Read More

Don’t Have More Credit Card Debt Than Emergency Savings

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It’s very likely your credit card debt is outgrowing the emergency fund that’s your last hope of paying it off. According to a study by Bankrate.com, just 52% of Americans have more money in emergency savings accounts than they do in credit card debt. That’s unchanged from 2016, but the percentage of Americans with more credit card debt than emergency savings has grown from … Read More

Credit Card Debt is Rising!

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Americans have created $1.01 trillion in debt (primarily credit card debt) according to the Federal Reserve. That’s the highest figure since the financial crisis in 2008. Credit card is now the preferred method of payment among Americans, edging out debit cards and cash, according to a new study. It’s the first time credit cards claimed the top spot in the … Read More

Tips to Control Your Debt

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Many people have way more debt than they can handle. Here are some tips that will help you control your debt and be debt free soon. Make a budget. Telling your money what to do is really the primary job of a budget even though most think of a budget for tracking monthly expenses.  It really boils down to intentional spending, … Read More

Let us help you!

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We would love the opportunity to review your financial scenario and walk you through a number of different options. Some clients will be most suitable for one of our Legal Debt Resolution programs; others will be better served by filing for Bankruptcy protection, or they might be better off staying right where they are and continuing on the path to … Read More

Tips to Know Which Debt to Pay Off First

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If you’re struggling to pay your bills, it’s not always easy to decide which debts should take priority. Personal loans often take the lead, with consumers least likely to be delinquent on them compared with other debts, according to a new report from consumer credit company TransUnion. Auto loans had the second-lowest rate of delinquencies, followed by mortgages and credit … Read More

Your Family Can Destroy Your Finances!

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Family can be a source of love, support and emotional comfort. But those benefits can be overshadowed when loved ones leave us with maxed-out credit cards, debt and other money-related issues. Here’s what you can do to keep family and partners from damaging your finances beyond repair. Joint account? Avoid overdrafts. Moving in with a significant other isn’t always seamless, … Read More

Debt Can Cause Health Issues

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For a man named Terrence Morrissey, being in debt took a constant mental toll. “It robbed me of my piece of mind, robbed me of my dignity,” said Morrissey, of Langley. He didn’t want anyone to find out: “What a failure I am.” However, Morrissey is not alone. A survey by a British Columbia insolvency trustee found high levels of … Read More

Credit Card Debt

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Troughout the United States, many Americans are drowning in credit card debt. Credit Card debt is something difficult to get out of, but it’s far from impossible. According to WalletHub, the average American family owes $8,377 in credit card debt. In average, Americans all together owe more than 12 trillion dollars in debt. Credit card debt has increased six percent in the … Read More

Enjoy now pay later?

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Everyone likes the idea and flexibility of “paying later”. To buy or pay later is a choice that is presented with the ownership behind a credit card.   It gives you the freedom and control to buy immediately whatever you want, but delaying your payment can lead to interest charges. Let’s be honest, America is having a credit card debt crisis. … Read More

Want to start planning towards getting out of debt the right way?

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Most individual households in the U.S. owe around $8,377 according to personal finance site WalletHub which analyzed 2016 credit card debt trends in a recent publication. If you’re one of the thousands that have heavy debt, then you’ll want to start planning how to get out of it right away as interest doesn’t rest and never stops. If saving your reputation or managing your … Read More

Can you inherit debt?

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It’s a worry every parent has: Am I going to pass on my debt to my children? With the U.S. moving farther and farther into debt, it’s becoming a bigger concern for more people. Between credit cards, mortgages, and student loans, the average American has over $200,000 in debt. Even with life insurance, most won’t have enough to cover both … Read More

Wind up in financial trouble?

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When we think of people in debt, the image of self-indulgent, overspending, undisciplined people come to mind. When in reality, a lot of the people who find themselves in debt are simply people with… medical problems. According to the Kaiser Family Foundation, more than 25% of U.S. adults are currently finding it difficult to pay medical bills, and nearly half … Read More

Credit Card Debt Now at $1 Trillion

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Credit-card debt breached the $1 trillion threshold in the U.S., joining auto loans and student debt in crossing that level, and hitting its highest mark since the nation’s last recession. New data from the Federal Reserve shows the new growth of household debt. There is a rise in borrowing, however, that is a good sign for the U.S. economy. This … Read More

A $500 surprise expense would put most Americans into debt

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While the jobless rate is down and wages are up, most Americans nevertheless remain one misstep away from a financial crisis. Fifty-seven percent of Americans don’t have enough cash to cover a $500 unexpected expense, according to a new survey from Bankrate, which interviewed 1,003 adults earlier this month. While that may appear dire, it reflects a slight improvement from … Read More

What does bad credit mean?

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We here so many different takes on what actual bad credit represents that we understand the confusion. First of all… We need to understand that our credit rating essentially determines RISK. So good credit means that a borrower is likely to fulfill his part by providing on time payments up until completion. Bad credit means just the opposite. It means … Read More

3 things to get started on the path towards debt relief

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Our experienced and highly trained debt analysts will first gather information that we need in order to obtain a full, accurate and thorough picture of your finances (income, expenses, assets and liabilities) and your financial hardship. Next, they will gather more, in depth, information about every outstanding debt you have and every creditor you owe money to, as well as … Read More

Late fees with credit cards

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You are late again or have some unforeseen issue coming up that will hinder you payin your credit card bill on time. Do not panic. There is a way to help you save some money by you simply asking the credit card company to waive the late fee.  Americans owed over $779 billion in credit card debt as of 2016. … Read More

Lost your way? Gershfeld Law Group is there for you.

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Losing your way with debt or legal terms like litigation, bankruptcy, foreclosures and more can be intimidating. Gershfeld Law Group is proud to be there to answer your questions and offer its services. Visit our services page or our FAQ section to get more information on how we can do just that.

The Credit Card Game

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The great credit card can be a great friend or an unforgettable foe. Many people get caught up in spending more than what they can pay back. It becomes a never ending cycle of financial turmoil.  There are advantages of having and using credit cards responsibly. This can range from cash back and travel rewards to using ten to rent … Read More

Expensive wedding season?

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According to The Wedding Report, wedding costs are on the rise across America. As real estate, taxes and technology rises in value weddings are one of the first things that go up as well. From 2013 the average cost nationally has gone up by over 1000 dollars and in California weddings are more expensive than ever. The most common solution … Read More

What type of debt qualifies for debt settlement?

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There are many answers to this. Here are some examples of debt that will qualify for debt settlement: Credit Card Debt Unsecured Loans Vehicle Repossessions Collections Medical Debt Business Debt Every case is different and the timelines, options and goals we can set together with you will vary from case to case. Our best recommendation is to talk to an … Read More

Which debts should you pay off first?

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WHAT TYPE OF DEBT QUALIFIES FOR DEBT SETTLEMENT? It’s important that you understand the difference between Unsecured Debts (which we CAN help you with) and Secured Debts (which we can’t help you with). Secured Debt is a loan where the creditor retains a security interest in any item of real or personal property. If you fall behind on payments, the lender can repossess the property. … Read More

Americans are dying with an average of $62,000 of debt

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You’re probably going to die with some debt to your name. Most people do. In fact, 73 percent of consumers had outstanding debt when they were reported as dead, according to December 2016 data provided to Credit.com by credit bureau Experian. Those consumers carried an average total balance of $61,554, including mortgage debt. Excluding home loans, the average balance was … Read More

Single Parents can raise Debt-Free

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March 21 is Single Parents Day – a day set aside to acknowledge and celebrate the unique achievements of mothers and fathers who do double duty in raising their families. In the United States, nearly one-third of children live with a single parent. For single parents, the economic stakes are high. The U.S. Department of Agriculture estimates that raising a … Read More

Credit card balances increased to $779 billion overall

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Household Debt Climbs to $12.58 Trillion, Just Shy of Its 2008 Peak Increase largely due to credit card and student loan debt freebeacon.com/issues/household-debt-climbs-12-58-trillion-just-shy-2008-peak Total household debt climbed by $226 billion in the fourth quarter of 2016, rising to $12.58 trillion, according to a report from the Federal Reserve Bank of New York. The $12.58 trillion in household debt today is … Read More

How Much Debt Is Too Much?

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www.fool.com/credit-cards/2017/03/13/how-much-debt-is-too-much.aspx Debt is not necessarily a bad thing — unless you have too much of it. An overload of debt can ruin your financial happiness for years or even decades.  Since the Great Recession that began in 2008, Americans have built up a worrying amount of debt. According to a recent Federal Reserve Bank report, household debt balances in the … Read More

Are you out of work and have debt out of control?

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10 Signs Your Credit Card Debt Is Out of Control  By – www.thebalance.com/your-credit-card-debt-out-of-control-4048847 It’s so easy for credit card debt to get out of control. One day you’re happily swiping your credit card, buying things you’ve always wanted, taking trips to places you’ve always wanted to visit. The next thing you know your cards are all maxed out and you can’t … Read More

24% Said they have no debt

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Poll: 1 in 10 Americans believe they will die in debt Poll: 1 in 10 Americans believe they will die in debt A new survey from CreditCards.com shows Americans are getting more optimistic about getting out of debt. A telephone survey of more than 1,000 U.S. adults found that 12-percent of people with debt believe they will never pay off what they … Read More

Is your income drastically less?

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Tips for Debt-Free Living In today’s economy where the real value of our fortnightly income is drastically less then what its nominal value is, people tend to borrow money in order to meet their daily living expenses. Loan sharks, or more commonly known here as ‘dinau, or book-in man/meri’, are making a good living off people who tend to find … Read More

Planning to retire this year but still in debt?

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Source/ news.sky.com/story/a-quarter-still-in-debt-when-they-retire-says-prudential-report-10770797 A quarter still in debt when they retire, says Prudential report A survey finds an increasing proportion of workers will still owe money when they finish work – eating into retirement incomes. Image Caption:The average amount of debt expected to be owed has increased from last year A quarter of people planning to retire this year will be in … Read More

Debts you need to pay before you retire

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source:https://www.aol.com/2b306534-f1aa-4022-a9e2-5673f5d0b60e Debt can be a burden at any age because it can prevent you from getting ahead financially. But debt can be an especially heavy weight in retirement. Making monthly debt payments can leave you with less money to cover necessary expenses — especially if you’re living on a fixed income. “If you ignore this situation, it very well could … Read More

Credit Card Trends for 2017

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In 2016, high-end credit cards attracted a lot of attention with generous rewards and perks. But this year, issuers are going back to basics – and perhaps charging you more in the process. Here are four credit card industry trends taking shape for 2017. More bread-and-butter rewards. Higher interest rates. A growing subprime market. Smoother transactions. [USA Today] Shutterstock Apple … Read More

Life after debt?

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We have helped so many people come into a life without debt and the one question people ask is… what now? First of all, you have to celebrate! Right? What an accomplishment. Seriously. Most people DO NOT get out of debt and many people who do get right back in. But after the elation of being debt free has passed … Read More

Are you facing a possible foreclosure?

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Foreclosures are still on the rise. The Gershfeld Law Group can help you file a civil lawsuit against the bank or your loan service provider if we find any good faith grounds for doing so. If you are in the process of a foreclosure, there may be various defenses available to you, such as seeking a loan modification, short-selling the … Read More

A loan to pay off debt?

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A lot of solutions presented to people in need of debt relief sometimes sound like a loan to pay off a loan. And, as you struggle through debt from one source, the idea of engaging in a new one doesn’t seem as ideal. But the truth of the matter is that, ultimately, you have options. And you need to know … Read More

Can I really pay less than I owe?

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You may be asking why credit card companies would be willing to settle the debt for a fraction of what is owed them, and the answer is simple: better something than nothing. Gershfeld Law Group deals with these situations all the time. And we’ve seen that credit card companies are very aware of the fact that getting you to pay … Read More

Happy Veterans Day!

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On this day we honor those who served. We owe our freedom, way of life and pride as a nation to them – not only on this day but everyday. Thank you sincerely from Mediator Law Group! We here at Gershfeld Law Group remember the service rendered by our military and veterans. Happy Veterans Day!

Credit Card Debt is Growing

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In quarter two of 2016, U.S. consumers accumulated $34.4 billion of debt on credit cards. Compare that with the second quarter of 2007 (six months before the start of the Great Recession) when $31.9 billion was reached. Cumulatively, Americans have effectively borrowed a total of $912 billion of credit card debt as of the end of quarter two of 2016. … Read More

Our strategy

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The Gershfeld Law Group provides a variety of legal services, ranging from Debt Relief to Civil Litigation and Business Transactions. We pride ourselves in providing excellent legal service with a personal touch. At the Gershfeld Law Group, you are not just a name. We take pride in having a personal relationship with each one of our clients. Here at the Gershfeld … Read More

Happy Halloween from Gershfeld Law Group!

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If you have any pesky legal ghosts that need handling…. give us a call! We specialize in services ranging from Bankruptcy to Foreclusures and debt settlement among other things. Every move we make on behalf of our clients is carefully planned and methodically executed. With proper leverage and excellent negotiation skills, we always put our clients in a position of … Read More

What does Litigation mean?

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LITIGATION lit·i·ga·tion ˌlidəˈɡāSH(ə)n/ noun the process of taking legal action. “the company wishes to avoid litigation” synonyms: legal proceedings, legal action, lawsuit, legal dispute, legal case, case, suit, prosecution,indictment “his attorneys advised him to avoid the litigation that his friends were suggesting” Our attorneys collectively have over 100 years of litigation experience and have represented individuals and business in a … Read More

Are you debt free?

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Well, no one is ever truly debt free. But there are two types of debt in this world – good debt and bad debt. What’s the difference? While it’s possible to live completely debt-free, it’s not necessarily smart. Very few people earn enough money to pay cash for life’s most important purchases: a home, a car or a college education. … Read More

What can Gershfeld Law Group do for you?

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We offer the following services: 1 – Debt Resolution Legal debt resolution has become a solution for thousands of people across the country, and when managed properly, can result in significant savings. Please call us and speak to one of our debt analysts to see if Legal Debt Resolution is an option for you. 2 – Bankruptcy If your finances … Read More

We are now on Instagram!

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Just wanted to announce that we are now instagram! We hope you like and follow us:   http://www.instagram.com/gershfeldlawgroup.com   WHO WE ARE? The Gershfeld Law Group provides a variety of legal services, ranging from Debt Relief to Civil Litigation and Business Transactions. We pride ourselves in providing excellent legal service with a personal touch. At the Gershfeld Law Group, you … Read More