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

Chapter 7 Archives

You can rebuild your credit after bankruptcy

Bankruptcy doesn't have to be the end of your ability to get credit. It can provide a fresh start to a healthier financial future unencumbered by mountains of debt. However, that won't happen overnight. It takes time, patience and careful planning to repair and rebuild your credit.

Why you shouldn't procrastinate if you're considering bankruptcy

Many people dread the thought of filing for personal bankruptcy and put it off for as long as possible. However, this procrastination often makes a bad situation even worse. If you're considering bankruptcy as an option for getting out from under an avalanche of debt, it's best to start learning about the process sooner rather than later. It's not a quick and easy process. However, with good professional legal help, you can make the best choices for your situation.

Top benefits of legal help when considering bankruptcy

Those facing overwhelming debt often search for a solution for some time before bankruptcy becomes an option. Once these individuals begin to consider Chapter 7 or 13 as a possible solution, they must then contemplate a number of questions before making a decision. Examples include:

5 potential reasons for bankruptcy

Bankruptcy does not always happen the way you assume. There are many reasons people get into financial trouble, some of which they have no control over themselves. It is important to understand these reasons as you consider all of your options.

Bankruptcy assistance helps you avoid tax evasion allegations

Both Chapter 13 and Chapter 7 bankruptcies give New York residents a clean slate upon which to build a secure financial future. A Chapter 7 filing can also help debt-strapped people get out from under some of their tax obligations. This is a perfectly legal approach to discharging or minimizing tax debt, as long as the government does not believe that you are attempting to evade your tax obligations unlawfully.

Chapter 7 bankruptcy, exploring the consequences

For most people, the thought of filing a Chapter 7 bankruptcy is frightening. The process is shrouded in a great amount of negativity, and although some of the negativity is true, some of it is false. We have found that once people weigh the negative consequences against the positives, most of them feel better about the prospect of a Chapter 7 filing.

What are your tools of the trade?

If you declare bankruptcy, one of the things you may naturally worry about is how that filing is going to impact your ability to earn a living. You know that Chapter 7 means liquidating assets. However, are you going to have to sell the tools you use to make a living right now?

How can I get out from under a mountain of medical debt?

If you're a Long Island resident who is contemplating filing for bankruptcy, your debts may have accrued from many sources. Credit card debt, personal loans and student aid obligations can all take a huge chunk out of your disposable income.

What are the top financial errors people make?

Financial mistakes are pretty common. As much as everyone wants to be in control of their finances, life has a way of getting out of control. Sometimes, it just takes one small mistake. Other times, a series of chronic mistakes cause the problems. What are some of the most common errors people make? A few are listed below: