When living in fear of debt and potential financial collapse, we all think of ways out. Perhaps, you thought about bankruptcy, but are afraid you will have to start over again after. This may lead some New Yorkers to wonder if they can just transfer everything they...
Debt Relief
Medical debt can lead to bankruptcy, but help is here
The United States is drowning in medical debt. According to the Kaiser Family Foundation, Americans owe more than $200 billion in medical debt. Four in 10 Americans have some form of medical debt. Half of that debt is on our credit reports, according to the Consumer...
Can paid-off medical debt still hurt my credit?
For those with medical debt, you know the debt struggle is real. Every day, you face that mountain of medical bills, in addition to all of your other debts. Every dollar that goes to that medical debt is another dollar out of the family budget. And, after you finally...
Options for business bankruptcy
The past two years were difficult for small businesses. If debts became unmanageable, it may be necessary to file for bankruptcy. This decision and the options for filing bankruptcy in federal bankruptcy court require serious consideration. Chapter 7 Chapter 7 is a...
Choosing a mortgage loan modification
Most people who own a home take out a mortgage in order to purchase it. For many people, it may also be the largest purchase they ever make. That’s why when an individual is unable to make the mortgage payment, it can leave him or her concerned about losing their...
The problem of medical debt
Medical care in the United States is extremely expensive, and without adequate insurance it is unmanageable to most Americans. Whether it is due to a brief hospital stay or a chronic disease that requires treatments and expensive medications, most people will do...
Why are creditors still contacting me after bankruptcy?
Filing for bankruptcy has many benefits. The burden of unmanageable debt is gone, and months or even years of creditor harassment should be gone. After filing, you are likely to feel a sense of relief, knowing you are ready to start over financially with peace of...
Buying a house after bankruptcy
Many New York residents are facing financial difficulties, and bankruptcy can be a viable option for many people to get out of unmanageable debt. However, one of the main concerns surrounding a bankruptcy decision involves whether it can affect the potential future...
Could a new law make student loans dischargeable in bankruptcy?
As the last year or so has wreaked havoc on the finances of many New York residents – and, indeed, many people across the country – the subject of student loans has been front and center in the national news. Millions of people have benefited from an automatic...
The differences between Chapter 7 and Chapter 13
The decision to choose whether to file for Chapter 7 or Chapter 13 bankruptcy can be a difficult one. There are many factors to consider. However, most financial and legal guidance suggests that the line separating the two types of bankruptcy strictly divides along...