Bankruptcy vs Debt Management Plan: What’s Best for Your Circumstances?

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.  If you are struggling to […]

Wage garnishment in New York

Wage garnishment in New York happens when a court orders your employer to withhold a specific amount of money from your paycheck and have it sent directly to the creditor you owe money to. There are many reasons why people have their wages garnished, though some of the most common include child support, consumer debts […]

The Benefits of Chapter 13 Bankruptcy in New York City

The Benefits of Chapter 13 Bankruptcy in New York City  The end result of all bankruptcy types are essentially the same – a fresh start from your financial troubles and a second chance at a debt free life. The different bankruptcy chapters provide individual consumers various types of benefits but the end goal of relieving […]

Can I get out of credit card debt in a New York bankruptcy?

Can I get out of credit card debt in a New York bankruptcy? Bad credit card debt is the most common problem facing most consumers considering bankruptcy today.  The good news is that in almost all cases your unmanageable credit card debt can be eliminated or extremely reduced in both Chapter 7 and Chapter 13 […]

Which debts are dischargeable in bankruptcy?

Recent job loss, mounting medical bills or perhaps some other unexpected money problem is taking control of your life.  You can’t pay; you’re sinking in debt through no fault of your own, and are desperately in need of a fresh start.  You have done your homework, and you know that bankruptcy is the best option […]

Should my corporation file bankruptcy?

Probably not. Generally speaking, our clients with single owner corporations and LLCs are better served by filing for personal bankruptcy than corporate bankruptcy.  Many consumers are not aware that personal bankruptcy will help rid them of most business debts and the personal guarantees tied to the business they are closing. By and large filing for bankruptcy […]

Is the bankruptcy means test necessary for me?

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 created the bankruptcy means test as a way to prevent abuse of the Chapter 7 bankruptcy system.  The means test is a formula devised to restrict bankruptcy petitioners with higher incomes from wiping out their debt entirely under Chapter 7 when they could be repaying […]

Can you stop IRS wage garnishment with bankruptcy?

Consumers facing serious financial hardship are commonly falling behind with the IRS too.  Even though letters are coming from the federal government the unpaid tax notices start piling up with the rest of the bills anyway. When any debt becomes severely delinquent, creditors including the IRS have the ability to garnish wages.  Unlike other creditors […]

Can creditors legally call me after bankruptcy?

You recently filed for bankruptcy thinking it would eliminate your debt and bring you a financial new beginning, but the creditors are still calling, and won’t leave you alone even though they know you have filed. The phone keeps ringing at home, and now they are even calling you at work.  You feel frustrated and […]

Is my New York City shopping spree dischargeable in a bankruptcy?

One last splurge on 5th Avenue? A final blow-out at Lord and Taylors or Saks? Many consumers are tempted to rack up their credit card debt in a last frenzy right before filing for bankruptcy. Seeing as they are going bankrupt anyway, they may see it as a good idea to take their debt to […]