When you file for personal bankruptcy under Chapter 7 of the U.S. Bankruptcy Code, you have two main goals. The first is to stop your creditors from bothering you. This is accomplished as soon as you file and the court issues a stay -- a legal order that prohibits...
We are living during a time where the cost of living is increasing, mortgage rates are rising, grocery inflation is pressing and a hospital trip can become financially devastating. If you find yourself considering bankruptcy as a result, and decide to pursue Chapter 7...
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...
Why do bankruptcy cases sound like Dickens novels? Chapters are named after their place in the United States federal bankruptcy code. While they may not be as interesting as those novels, they can offer people a financial lifeline when they are drowning in debt....
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...
The marriages of many Long Island couples suffer under financial distress. Many might even think that financial problems and divorce go hand-in-hand, although of course martial problems are usually complicated and have many causes. Because so many New Yorkers with...
In New York, Chapter 11 bankruptcy is frequently viewed as an option for large companies that are experiencing widespread financial challenges. It offers businesses various strategies to get on stronger financial ground while staying in operation. For many, Chapter 11...
A recent change to the bankruptcy code could increase the number of filings by expanding protections to self-employed persons. President Biden recently signed legislation that extends by two years the debt limit for individuals filing under Chapter 13, also known as...
If you own a struggling business, you want to consider all your options to get back on track and possibly return to profitability. One option is Chapter 11 bankruptcy. Chapter 11 protects your business from creditors while allowing you to reorganize and continue to...
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...
