Many Long Island residents, who are struggling with debt and trying to save their homes from foreclosure, may feel that the game is rigged against them. Unfortunately, they may be right.
Filing for Chapter 13 after a prior bankruptcy
Many Long Island residents have found that filing for bankruptcy allowed them to get out of a debt trap, and gave them a fresh financial start. However, there are people whose debt problems are such that they need to file for bankruptcy more than once.
New York sues mortgage lenders over foreclosure abuses
Foreclosure rates nationwide have been slowly but surely falling since their heights four or five years ago when the housing bust was wreaking havoc on the economy, but they are still relatively high in Long Island. Even as the real estate market appears booming in parts of Brooklyn and Manhattan, New York still has higher numbers of foreclosed homes than all but two other states.
New York hospital plans to return to health through bankruptcy
When businesses get stuck in debt that they cannot repay, the repercussions can be devastating to a whole community. The purpose behind Chapter 11 bankruptcy protection is not just to protect the business owners but it also helps to protect the entire community.
