Do I get to keep my MTA or New York State pension in bankruptcy?
When you file for Chapter 7 or Chapter 13 bankruptcy protection in New York, you will be able to keep your MTA or New York State Pension in almost all cases. Bankruptcy laws exist to provide people with a fresh financial start by eliminating their debt without forcing them to lose everything they own. The […]
How can Detroit go Bankrupt?
It’s been a topic of conversation in our offices, and our clients in New York City seem curious too: how can Detroit go bankrupt? The eighth largest city in the United States, despite efforts to bail out its automobile industry, has filed for bankruptcy. The bailouts Chrysler and GM received were not enough to save […]
Dionne Warwick files for bankruptcy? Huh?
Famous singer, actress, TV host and global ambassador to the UN; Dionne Warwick is among the top 40 biggest hit makers of all time, and second only to Aretha Franklin as the most charted female vocalist ever. Legend. Bankrupt. “Heart Breaker”. How can someone like Dionne Warwick go bankrupt? I thought she had it all. […]
Will my job find out if I file for bankruptcy in New York?
As our clients begin to realize the benefits of filing for bankruptcy, and the financial relief it will bring them, one of the first things they want to know is if their employer will find out. Some people even worry that they could be fired if their boss were to learn of their bankruptcy. While […]
How Does Chapter 13 Bankruptcy Work in New York?
How Does Chapter 13 Bankruptcy Work in New York? Chapter 13 bankruptcy is different from Chapter 7, but has advantages for people in the right financial situation. Chapter 13 is typically meant for people with assets exceed the exemption limits laid out in Chapter 7, whose household income is too high for chapter 7 or […]
How does a Chapter 7 Bankruptcy work in New York?
How does a Chapter 7 Bankruptcy work in New York? Filing bankruptcy gives financially stressed people a fresh start. In a Chapter 7 bankruptcy all credit card and other unsecured debts are wiped out giving you a chance at a clean slate financially and a new life overall. After your bankruptcy your credit can be […]
How does Bankruptcy Work in NYC?
How does Bankruptcy Work in NYC? Millions of Americans file for bankruptcy every year. It is a very common practice and it is likely you know someone who has filed- they just may not have told you. The truth is that today in New York City and the nation abroad many families are hurting financially […]
Will it be difficult to find a job if I file for bankruptcy in New York City?
You may be trying to get hired on with a different company, or maybe you’re looking for an entire career change altogether, and now you’re wondering if filing for bankruptcy will affect your job search. While the Bankruptcy Code section 525 (b) explicitly protects individuals from being fired for no other reason than their bankruptcy, […]
Should my corporation file bankruptcy?
Probably not. Generally speaking, our clients with single owner corporations and LLCs are better served by filing for personal bankruptcy than corporate bankruptcy. Many consumers are not aware that personal bankruptcy will help rid them of most business debts and the personal guarantees tied to the business they are closing. By and large filing for bankruptcy […]
Can you stop IRS wage garnishment with bankruptcy?
Consumers facing serious financial hardship are commonly falling behind with the IRS too. Even though letters are coming from the federal government the unpaid tax notices start piling up with the rest of the bills anyway. When any debt becomes severely delinquent, creditors including the IRS have the ability to garnish wages. Unlike other creditors […]