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

July 2016 Archives

Seeking happiness while dealing with overwhelming debt

The Secret Society of Happy People was founded to help promote happiness, and its founder is known for providing a message that regular happiness occurs when you recognize the small moments of joy throughout your day. That can be difficult to do when you're also dealing with an overwhelming amount of debt, which can seem to overshadow any moment of joy. We're providing a few small tips from the Society -- and some of our own -- for finding happiness this month.

What happens to student loan debt in Chapter 13 bankruptcy?

Many people choose Chapter 13 bankruptcy over Chapter 7. Chapter 13 has a number of advantages over Chapter 7, including the ability to avoid foreclosure, a shorter period of time that the bankruptcy appears on credit reports and the ability to potentially lower payments on debts. Further, some people have to choose the Chapter 13 option over Chapter 7 because their income is too high to qualify for Chapter 7.

Three things that increase your risk of getting audited

Generally getting a knock on the door, phone call or letter in the mail is a pleasant experience. Maybe a friend or family member is checking in to say hello, or that pizza you ordered is getting delivered. However, this pleasant feeling quickly fades when you open the door, pick up the phone or open that letter and find the Internal Revenue Service (IRS) is asking questions about your taxes.

Real estate deal leads to bankruptcy for former basketball star

Just recently, we brought you the story of how former pro basketball player Antoine Walker is working to help young professional athletes avoid the pitfalls of sudden wealth that led him to file bankruptcy within two years after his retirement. Among the lessons that Walker, in partnership with Morgan Stanley, is teaching is the importance of avoiding risky investments.

Former ball player works to save other athletes from bankruptcy

We've all heard the stories of professional athletes who were catapulted out of humble, if not impoverished, circumstances into multimillion-dollar contracts and endorsement deals, only to end up bankrupt just a few years after retirement.