Chapter 7

Many people are afraid that in a personal bankruptcy, they will have to give up everything they own. Fortunately, this is not the case. Chapter 7 bankruptcy does require the debtor to surrender some assets, but there are many exemptions. These exemptions mean that...

New Yorkers who are struggling every day in a tumultuous economy have hard choices to make. Between paying the mortgage, car payments and other bills, or putting food on the table, people can become buried under impossible debt and feel helpless at finding a solution....

Bankruptcy can be an intimidating process, but for many the end goal is to achieve a fresh financial start. New Yorkers may elect to file for Chapter 7 bankruptcy to get ahead of their overwhelming obligations and take control of their financial lives. To do so, they...

Filing for Chapter 13 bankruptcy is not an easy choice to make. You carefully examine your finances, your income and assets and sometimes putting yourself on a restructured payment plan through Chapter 13 makes the most sense. But life changes, and so can your...

There’s nothing pleasant about filing for bankruptcy but, sometimes, it’s your best option. Making that decision is difficult, requiring you to balance your need for debt relief against the consequences bankruptcy entails. If you depend on benefits from the Social...

For New Yorkers who are facing financial trouble, bankruptcy is a legal and time-tested option to get into a better situation, clear debts and move forward. However, it is not uncommon for people to again struggle financially due to unexpected issues like job loss,...

Bankruptcy is an effective legal and financial tool for individuals who are struggling with debt. As Long Island residents may know, there are different forms of personal bankruptcy that can serve the needs of different debtors. Those forms are Chapter 7 bankruptcy...

Facing financial issues is tough. Oftentimes, individuals and families in New York can budget their way through money problems. While this may be the case for some, many seek alternative ways to address their debt problems. Although filing for bankruptcy is a major...

Debt can be overwhelming. It has the tendency to grow and get worse, causing individuals and families to wonder when or if it will ever end. And when bankruptcy is one’s best option, thinking about life after bankruptcy can feel overwhelming and even confusing. The...

Chapter 7 bankruptcy can be a valuable resource for consumers struggling with debt and looking for options and protections to help. There are several requirements that must be met to qualify for Chapter 7 bankruptcy the filing parties should be familiar with. How to...