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

Chapter 7 Archives

When should a business choose Chapter 7 over Chapter 11?

Chapter 7 bankruptcy is typically associated with individuals who file for personal bankruptcy. In some cases, however, companies choose to file for Chapter 7 rather than the more common Chapter 11. Let's look at when a company might want to consider going the Chapter 7 route.

Proposed legislation could help people with student loan debt

If a significant portion of the debt that has you considering bankruptcy is student loan debt, you're not alone. Almost a third of people who file for bankruptcy have student loan debt. On average, it comprises almost half of their total debt. Those figures are from a study by LendEDU. That site provides tools and information to help people compare and learn about financial products.

Debt can harm your mental and physical well-being

Could your debt be endangering your mental and physical health? It might be, according to a report recently published by, a personal finance website. The site reported that consumer debt was linked not just to psychological distress but to poor overall health.

What divorce-related obligations can you discharge in bankruptcy?

Financial issues can contribute to strains in a couple's marriage. It's not unusual for someone to consider filing for bankruptcy as they're also headed toward divorce or have already begun the divorce process. Sometimes people file for bankruptcy after they've divorced, but they still have obligations to their former spouse that were ordered as part of their divorce agreement.

What you should know about automatic stays

Among the relief that filing for bankruptcy brings is what's called an "automatic stay" on collection efforts by creditors. As one attorney says, "One of the reasons individuals ultimately file for bankruptcy is just to stop the harassment that goes on in the process of collection."

Scammers are targeting people with student loan debt

Many college graduates -- from young adults to those looking toward retirement -- feel like they'll never escape their student loan debt. According to Student Loan Hero, Americans have a cumulative total of over $1.5 trillion. The website says that the average amount of student loans for students who graduated last year was nearly $30,000. It's been estimated that as many as 40% of people with outstanding student loans could default on them by 2023

Your age likely affects your attitude toward credit cards

You might assume that younger people would use credit cards more often than older ones do. The convenience of buying now and paying later is still relatively new to them. They also haven't had years of paying interest on unpaid balances.

Are you prepared for a recession?

Economic experts are warning that another recession appears to be headed our way. In a recent survey by the National Association for Business Economics, 38% of economists who were polled predicted that it would occur next year. A little over a third said they expect it the following year, in 2021.