How Does Filing Chapter 7 or Chapter 13 Bankruptcy Affect Your Credit

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 collect their debts and repossess […]

Consumer vs Non-Consumer Debt in Bankruptcy in White Plains NY

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 debt, exactly, and why is […]

Top 7 Reasons Why People File Bankruptcy in New York

The number of bankruptcy filings in the United States has steadily increased over the last century, with all-time highs in 2005, when more than 2 million cases were started. In that year, one out of every 55 households filed for bankruptcy. While bankruptcy filings have decreased since then, roughly 1.5 million people still file bankruptcy […]

The Do’s and Don’ts of Filing Bankruptcy in New York

If you are having trouble paying your bills, bankruptcy might be the solution you’re looking for. But before you start the process, it’s important to know some do’s and don’ts to make sure that the process moves smoothly. For example, certain decisions you make, such as transferring a house into another family member’s name, can […]

When is Bankruptcy the Best Option

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 determine if bankruptcy is the […]

Are Auto Loans Forgiven Under New York Bankruptcy?

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 to keep their car and […]

Should I File Bankruptcy Before Marriage or After?

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 who have debt that’s higher […]

COVID Rent Moratorium in New York Draws to an End: What Are Your Options?

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 soon in January. The Good […]

What is the Bankruptcy ‘Means Test’ and Do You Have to Pass It

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 to repay a portion of […]

Chapter 13 Vs. A Debt Settlement Program

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 card debt, debt settlement has […]