Think Twice Before Cosigning – Their Bankruptcy Could Leave You Liable
Think Twice Before Cosigning – Their Bankruptcy Could Leave You Liable Have you ever considered cosigning a loan for a responsible family member in the past? It’s a common practice. Parents often cosign for their grown child’s first car; children might cosign for a smaller house for their retired parents. Grandparents, cousins, uncles, aunts, […]
Reverse a Wage Garnishment with an NYC Bankruptcy
How to Stop Wage Garnishment in New York When a creditor reaches the point of asking for a court-ordered wage garnishment, most people have already exhausted all other means of finding a suitable payment plan. At this point, your income, which is likely already not sufficient to pay back your debts, is being taken […]
Payless Headed for Bankruptcy in NYC
Payless Headed for Bankruptcy in NYC All across the nation, the retail chain Payless ShoeSource is failing. There are over a dozen Payless locations in NYC, and news was recently revealed that the company plans to file bankruptcy within the month. In addition, more than 500 stores will be shut down, and the […]
How an NYC Bankruptcy Can Protect You from the IRS
How an NYC Bankruptcy Can Protect You from the IRS Whether you are filing a Chapter 7 bankruptcy in NYC, or a Chapter 13, one benefit of taking this step is that you can be shielded from the IRS. Bankruptcy cannot eliminate most types of tax debt, but there are two ways that it […]
What You Need to Know About Bankruptcy Schedules in NYC
What You Need to Know About Bankruptcy Schedules in NYC Bankruptcy cases are unique in many ways; one of those happens to be the vocabulary. There are many things about a bankruptcy that have special names, and that can get confusing fast when you’re trying to hurry up and get your debts taken care of. […]
What to Expect from a Bankruptcy Consultation
What to Expect from a Bankruptcy Consultation The process of deciding to file for bankruptcy in NYC can be filled with a lot of uncomfortable moments. The initial consultation with your bankruptcy lawyer should not be one of those. While every lawyer has different methods, the initial consultation visit will almost always include similar information […]
Protecting Your Small Business When Filing Bankruptcy
Protecting Your Small Business When Filing Bankruptcy The rules for small business owners or self-employed individuals are a little different when it comes to filing bankruptcy. If you need to file personal bankruptcy in NYC, then your business will come up during the bankruptcy proceedings, whether you are the sole proprietor or your business is […]
How and Why to Notify Your Creditors of Bankruptcy
How and Why to Notify Your Creditors of Bankruptcy When you file for bankruptcy in NYC, you do not have to take any more steps to notify your creditors of your actions. The court will contact all the creditors that you listed in the bankruptcy filing and inform them that they cannot take any legal […]
Filing for Bankruptcy with No Assets
Filing for Bankruptcy with No Assets If you do not have any major assets and need to file bankruptcy in NYC, you may think you are limited to a Chapter 13 bankruptcy – in which you’ll still have to pay back your creditors through a trustee. Chapter 7 bankruptcies, which involve a total wiping of […]
Filing for Bankruptcy When Your Divorce Is Growing Hostile
Filing for Bankruptcy When Your Divorce Is Growing Hostile Bankruptcy and divorce often go hand-in-hand, and in most cases, it is advisable to file for bankruptcy first. This ensures that all the assets and debts are taken care of first, before any division of debts or property starts to become an issue. Additionally, while a […]