May 01 2008
NJ Courts feel Economic Sting
Tom Hester of the Star-Ledger reported yesterday that the “NJ court system struggling with flood of debt-related cases“.
Foreclosure filings for the first three months of the year exceeded 4,000 a month, a staggering 44 percent increase over the same period last year, Judge Philip S. Carchman told the Senate Budget and Appropriations Committee. They are on track to hit 49,000 cases by the end of the year, double the number from just two years ago.
Debt cases, mainly from credit cards problems in which $15,000 or less is owed, are also spilling into the courts. Carchman said 621,000 are expected this year, 100,000 more than last year.
The cost of living has increased dramatically over the last few years. The back-up of the court system is just one of many minor consequences. If the corporate fleecing of America continues to go unpunished why would it stop? For example, the cost of gas continues to rise as the oil corporations make record profits. Lending companies that pitched risky loans and used unethical tactics walk away leaving the consumer holding the bag. Property and local taxes are rising because of corruption and misuse of public funds. The list seems endless.
How has the current economic conditions effected your business or your spending?
