Bankruptcy Blog

If you own a house in Brooklyn NY and file for bankruptcy, whether you get to keep the house depends on several factors. To help you make sense of this, it’s helpful to understand how bankruptcy works and what happens to your personal property. The good news is that if...

It’s the most wonderful time of the year – and the most expensive, too! Between gifts, decorations, parties, travel and dinners out, it’s easy to rack up a lot of debt during the holidays. And with inflation still over 7 percent, everyone is paying more for the things they usually...

When you file for Chapter 7 bankruptcy in Brooklyn NY, you need to meet certain requirements. Bankruptcy is meant to be a last-resort option, as it has both financial and credit consequences. Not only will you be required to complete a credit counseling course, but also you’ll have to meet...

When you file for bankruptcy in New York, you’ll be notified of the consequences that may follow, such as a drop in your credit score and higher interest rates. But what many people aren’t sure of is how their bankruptcy will affect their employment. You’ll be glad to know that...

It’s a question we hear from many clients: Will I be completely debt free after filing bankruptcy? The answer is a bit tricky, which you’re probably not surprised to hear. It all depends on the type of bankruptcy you file – Chapter 7 or Chapter 13 – and the debts...

If you are planning to file bankruptcy in New York, there are a few things you’ll want to know about the process before you begin. Bankruptcy is a complex process that typically takes around three to four months to complete. Although you can file bankruptcy on your own, it’s highly...

In July 2022, unemployment rates in New York City were at 6.1 percent, and New York overall had rates at 4.4 percent. This means that hundreds of thousands of people are currently unemployed and struggling to pay their bills. If you are one of them, you might be wondering what...

If you’re living on a fixed income funded by Social Security, filing bankruptcy can be the best solution to a debt problem. Sometimes, unexpected things happen and it causes people to drown in medical bills and credit card debt. When you’re young, you may be able to work more or...

If you cannot afford your monthly mortgage payments on your New York home, the lender will eventually begin foreclosure proceedings to collect the debt. If you don’t act in a timely manner, you could lose your home, and your credit score will tank. This will make it difficult to buy...

Bankruptcy helps people who can no longer pay their debts get a fresh start. Once you file bankruptcy in Yonkers NY, it sets off a chain reaction of events. Some of these events are designed to protect you, while others are designed to protect your creditors. Knowing how the process...

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo. If you are unable to manage your debt, you can file Chapter 7 or Chapter 13 bankruptcy. While this may not be the ideal outcome, bankruptcy stops creditors from taking action to...

Consumers ended 2021 with record levels of debt, according to data released from the Federal Reserve’s New York district. Consumer debt stood at $15.6 trillion, with a large chunk coming from mortgages. Credit card balances and auto loans also increased, though student loans saw little increase. So what is consumer...