Bankruptcy Blog

Introduction Whether you’re considering a debt settlement program or chapter 13, this decision is bound to impact the financial future of your business.  Several considerations like your credit score at play when you decide on debt consolidation or a chapter 13 bankruptcy. Debt Settlement Program In the case of credit...

The rise of the COVID-19 pandemic has unleashed a tsunami of financial worries for everyone, from businesses to the average citizen. In addition, the uncertainty of what may or may not happen left many homeowners asking questions about foreclosure and their options in bankruptcy. People want to know about the...

When you file for bankruptcy, there are two types to choose from: Chapter 7 and Chapter 13. A Chapter 7 bankruptcy is known as a ‘straight bankruptcy.’ Unsecured debt like medical bills and credit card debt are typically erased. Some types of debt, such as student loans and taxes, are...

Having equity in a home will not stop you from filing bankruptcy. However, you may be at risk of losing your home if you cannot protect “exempt” it. If you are wondering what happens when you have equity in your home but want to file for bankruptcy, this post is...

Filing for bankruptcy is often a difficult choice, as the legal proceedings can leave your credit in a challenged state. Fortunately, damage done by filing for bankruptcy does not last longer than ten years, and sometimes it can be over in a little less than seven years. And as the...

Millions of people from diverse incomes are in arrears with their debt repayments. Bankruptcy is a legal process designed to help businesses and individuals eliminate their debt. You just have to remember that declaring Bankruptcy has a long-term, negative effect on your credit. Because of the long-term financial and legal...

Do you have a lot of unpaid medical bills? You are certainly not alone. In fact, the reason why many Americans file for bankruptcy is due to healthcare costs. A new study from academic researchers found that 66.5 percent of all bankruptcies were tied to medical issues either because of...

Losing your job at any time is difficult, but losing it during the pandemic is an entirely different story. According to this article, the economy has been on a long, exhaustive journey toward post-pandemic normalcy – and it’s far from over. Between lockdowns, reduced hours, lack of business, delayed shipments...

Debt collectors. They’re the worst, aren’t they? When you first default on your payments, it’s only natural that you’re going to hear from the debt collectors. But when you do your part and work with a bankruptcy lawyer in New York, you should stop receiving these harassing calls and letters,...

Wage garnishment is a problem for many Americans. If your wages have been garnished, rest assured that you are not alone. Here at Midtown Bankruptcy, we see this problem often with our clients. Many do not realize that they have options to protect themselves. Even though you’re probably feeling scared,...

In an ideal world, renters would pay their rent on time and landlords would use this money to pay for the mortgage, utilities, insurance and upkeep. Experienced landlords would also have a slush fund built up to cover a month or two of late rent payments. But as we know,...

Filing for bankruptcy is a big decision. Even if you’re aware that it’s in your best interests to speak with a Brooklyn bankruptcy lawyer, you might still be hesitant because of the stigma and potential long-term consequences. As a result, you might be looking into a debt management plan instead. ...