Do I have to pay rent during the Moratorium in NYC?

Countless New Yorkers have already lost their jobs due to the coronavirus outbreak, and more than half of them rent their homes in the city. It’s going to be hard to make rent in the months ahead for many of our neighbors. Fortunately, among the sweeping changes that Governor Cuomo recently announced with the “New […]

What Happens To Your Business Assets In A Personal Bankruptcy?

This article originally appeared on Forbes.  The original article can be found at: Click Here In my last article, we saw what can happen when a business bankruptcy intrudes on personal finances — with potentially disastrous consequences for an innocent spouse. But what if you’re facing personal bankruptcy despite owning and operating a successful business? And […]

BANKRUPTCY DISCLOSURES

Mandatory Bankruptcy Disclosures The following mandatory disclosures are required under Section 527 and 342 of the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) of 2005. NOTICE NO. 1 Notice Mandated by Section 342(b)(1) and 527(a)(1) Of The Bankruptcy Code: PURPOSES, BENEFITS AND COSTS OF BANKRUPTCY The United States Constitution provides a method whereby individuals, […]

Don’t Let A Spouse’s Bankruptcy Rob Your Refund

This article originally appeared on Forbes.  The original article can be found at:  click here Picture this: Your spouse’s small business goes bankrupt, and your spouse along with it. (Or worse: You go bankrupt, and you have to tell your spouse about it.) You hang on to the house and some other assets that are […]

Are Pension or 401k Loans Dischargeable in Bankruptcy in New York City?

Are Pension or 401k Loans Dischargeable in Bankruptcy in New York City? Most retirement plans like pensions or 401K’s allow you to borrow money against them if you really need to.  One of the most common situations we see in our New York City bankruptcy law practice is clients borrowing money from their retirement accounts […]

If I File For Bankruptcy, am I eligible for a Loan Modification in New York?

If I File For Bankruptcy, am I eligible for a Loan Modification in New York? Filing for bankruptcy in New York will not affect your eligibility for a mortgage loan modification thanks to some helpful new regulations handed down by the Obama administration.  Similarly, filing for bankruptcy during a trial modification will have no bearing […]

Why Hiding Assets in a Bankruptcy is Always a Bad Idea

Why Hiding Assets in a Bankruptcy is Always a Bad Idea Whenever you file for bankruptcy in New York City, you are required to tell the courts about any assets that you may have. In some types of bankruptcy, assets are seized and sold to pay off a percentage of debt. There are certain types […]

Why Debt Settlement Companies May Not Be the Answer

Why Debt Settlement Companies May Not Be the Answer If you’ve been considering filing bankruptcy in New York City, chances are you’ve looked into other means to get out from under debt. One way to take care of debt that many people look into is working with a debt settlement company. But the problem with […]

Why Bankruptcy Can Happen Even If You’re Rich

Why Bankruptcy Can Happen Even If You’re Rich Have you ever wondered how big celebrities go bankrupt? Surely these people have enough money that they don’t need to worry about overwhelming debt. Are they just really bad with their money? From Willie Nelson to Michael Jackson to Mike Tyson, more than a few celebrities and […]

Who Pays the Bills When You File Bankruptcy?

Who Pays the Bills When You File Bankruptcy? Filing for bankruptcy in New York City means that you’ll be able to get out from under many debts all at once. This is an option for those who have insurmountable debt that they have no way of tackling on their own. There are two main types […]