Can I Keep My Brooklyn NY Home if I File for Bankruptcy?
If you own a house in Brooklyn NY and file for bankruptcy, whether you get to keep the house depends on several factors. To help you make sense of this, it’s helpful to understand how bankruptcy works and what happens to your personal property. The good news is that if you want to keep your […]
5 Tips for Controlling Your Holiday Credit Card Debt
It’s the most wonderful time of the year – and the most expensive, too! Between gifts, decorations, parties, travel and dinners out, it’s easy to rack up a lot of debt during the holidays. And with inflation still over 7 percent, everyone is paying more for the things they usually buy. If you’re not careful, […]
What is a ‘Presumption of Abuse’ in Bankruptcy?
When you file for Chapter 7 bankruptcy in Brooklyn NY, you need to meet certain requirements. Bankruptcy is meant to be a last-resort option, as it has both financial and credit consequences. Not only will you be required to complete a credit counseling course, but also you’ll have to meet certain income guidelines in order […]
Will Bankruptcy Affect Your Current or Future Employment in NY?
When you file for bankruptcy in New York, you’ll be notified of the consequences that may follow, such as a drop in your credit score and higher interest rates. But what many people aren’t sure of is how their bankruptcy will affect their employment. You’ll be glad to know that bankruptcy shouldn’t affect your current […]
Will I Be Completely Debt Free After Filing Bankruptcy in Rockland County NY
It’s a question we hear from many clients: Will I be completely debt free after filing bankruptcy? The answer is a bit tricky, which you’re probably not surprised to hear. It all depends on the type of bankruptcy you file – Chapter 7 or Chapter 13 – and the debts you have to discharge. What […]
6 Common Mistakes to Avoid When Filing Bankruptcy in New York
If you are planning to file bankruptcy in New York, there are a few things you’ll want to know about the process before you begin. Bankruptcy is a complex process that typically takes around three to four months to complete. Although you can file bankruptcy on your own, it’s highly recommended that you hire an […]
Can I File for Bankruptcy If I Am Unemployed?
In July 2022, unemployment rates in New York City were at 6.1 percent, and New York overall had rates at 4.4 percent. This means that hundreds of thousands of people are currently unemployed and struggling to pay their bills. If you are one of them, you might be wondering what options you have to get […]
Will I Lose My Social Security Benefits if I File Bankruptcy in Westchester NY?
If you’re living on a fixed income funded by Social Security, filing bankruptcy can be the best solution to a debt problem. Sometimes, unexpected things happen and it causes people to drown in medical bills and credit card debt. When you’re young, you may be able to work more or take on a second job. […]
How Bankruptcy Can Stop Foreclosure in New York
If you cannot afford your monthly mortgage payments on your New York home, the lender will eventually begin foreclosure proceedings to collect the debt. If you don’t act in a timely manner, you could lose your home, and your credit score will tank. This will make it difficult to buy or rent another property in […]
10 Things That Happen When You File Chapter 7 Bankruptcy in Yonkers NY
Bankruptcy helps people who can no longer pay their debts get a fresh start. Once you file bankruptcy in Yonkers NY, it sets off a chain reaction of events. Some of these events are designed to protect you, while others are designed to protect your creditors. Knowing how the process unfolds will help you prepare […]