Wage garnishment in New York
Wage garnishment in New York happens when a court orders your employer to withhold a specific amount of money from your paycheck and have it sent directly to the creditor you owe money to. There are many reasons why people have their wages garnished, though some of the most common include child support, consumer debts […]
Pros and Cons of Filing Bankruptcy
Pros and Cons of Filing Bankruptcy If you have a lot of debt that you worry you’ll never be able to pay back, then you need to consider bankruptcy. This is a tool that can be used to help you get out of debt and back to living your life. There are many reasons for […]
In Chapter 13, Bankruptcy and just laid off due to Covid-19? Here’s what you can do in NYC.
A typical Chapter 13 repayment plan lasts 3-5 years, but a lot has changed in the world in only 3-5 months, with Covid-19, the resulting economic fallout and now flaring social tensions. A record 40 million Americans have lost their job, some of whom are New Yorkers that were already in Chapter 13 proceedings. We […]
Should I File Bankruptcy in NYC Because of CoVid-19?
After practicing bankruptcy law in New York City for over a decade, I thought I’d seen every financial calamity that could bring someone to need our help. That was obviously before the novel coronavirus, CoVid-19, and the upending of our lives in NYC and around the world. In a few short weeks, Manhattan has become a ghost […]
Don’t Let A Spouse’s Bankruptcy Rob Your Refund
This article originally appeared on Forbes. The original article can be found at: click here Picture this: Your spouse’s small business goes bankrupt, and your spouse along with it. (Or worse: You go bankrupt, and you have to tell your spouse about it.) You hang on to the house and some other assets that are […]
CARES Act Offers Beneficial Changes to Bankruptcy in New York
After two months of pain and financial despair from the Covid-19 Pandemic, we are starting to see the expected economic fallout and a rush of new consumer bankruptcy filings in New York City. While it’s not a magic bullet, the CARES Act (Coronavirus Aid, Relief, and Economic Security Act) has provisions meant to offset the […]
Emergency Financial Help During A Crisis
This article originally appeared on Forbes. The original article can be found at: Click here There’s no question times are tough for many small businesses (though it’s good to see the private sector rising to the occasion). With customers staying home, travel canceled and most things grinding to a halt while we battle to contain COVID-19, […]
Can debt collectors come after me during the Coronavirus Pandemic in NYC?
New York state unemployment numbers are at their highest levels since the Great Depression thanks to COVID-19. Nearly 1.5 million New Yorkers filed for benefits last week, leaving the New York Department of Labor completely overrun with new claims. They are doing what they can to streamline the filing process. However, it’s no wonder that […]
Do I have to pay rent during the Moratorium in NYC?
Countless New Yorkers have already lost their jobs due to the coronavirus outbreak, and more than half of them rent their homes in the city. It’s going to be hard to make rent in the months ahead for many of our neighbors. Fortunately, among the sweeping changes that Governor Cuomo recently announced with the “New […]
What Happens To Your Business Assets In A Personal Bankruptcy?
This article originally appeared on Forbes. The original article can be found at: Click Here In my last article, we saw what can happen when a business bankruptcy intrudes on personal finances — with potentially disastrous consequences for an innocent spouse. But what if you’re facing personal bankruptcy despite owning and operating a successful business? And […]