Bankruptcy Blog

Most people aren’t thrilled to file bankruptcy, but it can be the solution you need when you’re overwhelmed with debts. If you’re having trouble paying your bills, the first step is to speak with an experienced bankruptcy attorney in New York. They will look over your finances and bills and...

If you’re thinking about filing for bankruptcy in New York, you probably have concerns over what’s going to happen to your vehicle. You need your car to get to and from work, so it’s important that you have a plan of action for this asset. Fortunately, most people are able...

When you’re getting married, the last thing you want to talk about is each other’s financial struggles. But it’s an important topic to discuss, as your partner’s finances will become yours, and vice versa. While some debt is okay, it shouldn’t exceed 36 percent of your monthly gross income. People...

New York’s latest round of COVID-related eviction protections will end in January, putting the lives of millions of families in the State at significant risk. They are already behind on their rent payments because of the pandemic and risk eviction when the security provided by the Good Cause legislation ends...

If you’re hoping to file Chapter 7 bankruptcy, you’ll need to take a ‘means test’ to determine if your income is low enough. This formula is designed to keep high earners from filing for bankruptcy when it’s not necessary. People who ‘fail’ the means test can use Chapter 13 bankruptcy...

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...