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February 2015 Archives

Debt cancellation and income tax implications

A New Jersey resident who is dealing with significant levels of debt may look at various options in attempting to obtain relief from high bills. Some will consider bankruptcy, but there may be an interest in avoiding this avenue by negotiating lower payments directly with debtors. It should be noted that cancelled debts may carry certain tax consequences.

Charges for New Jersey student after school drug sweep

Police conducting a drug sweep at a New Jersey high school took an 18-year-old student into custody after finding narcotic pills and marijuana in the woman's vehicle. According to reports, a K-9 unit had detected the presence of drugs, and police then obtained a search warrant to search the woman's vehicle.

David Cassidy files for bankruptcy

New Jersey residents probably know David Cassidy best for his starring role on the hit 1970s television show "The Partridge Family." The 64-year-old entertainer has been popular for decades, but financial difficulties prompted him to file for Chapter 11 bankruptcy on Feb. 11 in Florida. The filing was announced by Cassidy's publicist via an email statement.

New Jersey man and woman facing crack cocaine charges

A 39-year-old man from Atco has posted $35,000 in bail and been released from the Ocean County Jail. He had been arrested in Manchester on Jan. 30 after police searched his 2005 Ford Taurus when it was parked near Spruce Drive in the Richard Estates neighborhood. According to the police report, the presence of the vehicle was deemed suspicious and three officers investigated it.

Walmart heiress may pay $400,000 per month in spousal support

In March, 2014, an heiress of the Walmart fortune, filed for divorce following a six-year marriage. Her husband is reportedly asking for $400,000 in pre-tax, spousal support. According to a popular entertainment website, his necessities include $80,000 for entertainment, between $40,000 and $60,000 in rent for his home, $2,500 for charitable donations and additional funds for other personal expenses.

Understanding credit card debt

Credit card debt can be a serious issue for many New Jersey residents. In a society where immediate gratification and keeping up with the Joneses is a common practice, putting purchases on credit can lead consumers down a dangerous path of severe and seemingly endless debt that can negatively influence finances, credit scores and unfortunately, lifestyle quality.

Man released on parole kills woman in car accident

New Jersey State Police charged a 41-year-old man with several traffic offenses that led to a woman's death on Jan. 27. The fatal car accident happened along Route 206 in Shamong shortly after 11:30 p.m. While traveling in a Ford pickup truck, the accused driver collided with a Saturn. His criminal charges for the car accident included unsafe lane changing and causing injury while driving without a license.

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