Jeffrey M. Rosenblum, P.C.
A Fresh Start

May 2014 Archives

Medical bills can be a thorn in the side of your credit score

Credit card bills, phone bills, utility bills -- there are all kinds of expenses for New Yorkers to deal with that could put them in a bleak financial situation. For many people, medical debt is a big driver of financial insecurity. For many people, medical bills might sneak up on them; the physical bill might not arrive for several weeks after a procedure or office visit, so there could be a disconnect between the service provided and its cost.

Bankruptcy might be a worthwhile strategy to prevent foreclosure

People who are behind on their mortgage payments feel a great deal of stress about their situations. Not being able to keep up with housing costs might lead people to feel as though they are financial failures; worse yet, though is the threat of losing the house altogether in the event of foreclosure. There might seem like no single answer that can help people who are in this predicament.

Having credit card debt isn't always within your control

As we have talked about on our blog, credit card debt is often a driver for people who file for bankruptcy. Debt can easily spin out of control if people rely on credit cards for everyday expenses; high interest rates, fees and penalties can turn what might start out as a reasonable amount of debt and turn it into something unmanageable. Many people in this situation might turn to Chapter 7 or Chapter 13 bankruptcy in order to emerge from their struggles with debt.

Student loan discharge isn't a given, but might be worth pursuing

For many people, filing for personal bankruptcy can serve as a financial fresh start. It can be a real relief to know that by filing for Chapter 7 or Chapter 13 bankruptcy, the worries that might develop from worrying about large amounts of credit card debt or about losing the family home can be put to bed.

New York to enact new debt collection rules to protect consumers

Being in debt is stressful. When you’re behind on bills and credit card payments, your debt sometimes get sold to third-party collectors, who begin calling you constantly. If you missed or did not get a notice that your debt was being sold, you may have no idea who is behind these harassing calls meant to collect money from you.