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

Posts tagged "Chapter 7"

Why consolidation loans can leave people in greater debt

When people are deep in debt, trying to juggle payments to a multitude of credit card companies and lenders each month in addition to paying their basic living expenses, the idea of a "consolidation loan" can be very attractive. Why not take out yet one more loan offered at a low-interest rate and use it to pay off all of your other bills?

Student loan debt and bankruptcy: Are changes on the horizon?

Student loan debt has risen significantly in recent years. Proposals for helping Americans deal with their crushing debt and even canceling some debt are being discussed by people who have entered the 2020 presidential race, like Sen. Elizabeth Warren.

Debt collectors may soon have more tools at their disposal

Back in the day, if someone owed money to a creditor, they may have received seemingly relentless telephone calls from collection agencies. Now, many people don't have landlines and may not even answer cellphone calls. Younger people, especially, are more likely to communicate via text.

Understanding the differences between Chapter 7 and Chapter 13

You may never have imagined that one day you'd be considering the option of filing for bankruptcy. The word has had a negative connotation for many years. However, contrary to what some people believe, it doesn't mean that you'll never get credit again or be able to fulfill your dreams. Indeed, with some vigilance and hard work, bankruptcy can be a step forward for you financially.

What are your options if you can't pay your taxes?

A lot of Americans are getting an unwelcome surprise when they file their taxes this year. Thanks to recent changes in the tax laws, they're getting a smaller refund than they're used to or -- worse yet -- they owe the Internal Revenue Service (IRS) a considerable amount of money. The Government Accountability Office (GAO) anticipates that over a fifth of Americans will owe money to the IRS this year.

New York Fed: Auto loan delinquencies are at a record high

New data just released by the New York Federal Reserve Bank indicates that over 7 million Americans are at least 90 days past due on their auto loans. That's a record number -- higher even than in the post-recession years of nearly a decade ago.

Lady Gaga talks about being millions in debt even after success

Lady Gaga has had a level of success in her 32 years that most artists can only dream of. Now she's got two Oscar nominations for A Star Is Born -- including one for Best Actress. Gaga, who was born Stefani Germanotta, became a very wealthy woman thanks to her album sales and concert tours.