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Preferences vs fraudulent conveyances in New York: What’s the difference?

For New Yorkers involved with the bankruptcy process, whether debtors or creditors, the concepts of “preferences” and “fraudulent conveyances” often cause confusion. (Actually, it’s not just laypeople. They cause for confusion for many law students and even some lawyers as well.)

They cause confusion because they both often relate to attempts by debtors to keep certain assets . . . → Read More: Preferences vs fraudulent conveyances in New York: What’s the difference?

Will the automatic stay protect me from foreclosure in New York?

If you are facing foreclosure on your home in New York and you file for bankruptcy, will the automatic stay protect your home from foreclosure?

The answer: Yes and no.

Once you file for bankruptcy, the automatic stay goes into effect and prohibits any creditors from taking any actions to collect money or assets from you. This does . . . → Read More: Will the automatic stay protect me from foreclosure in New York?

Some perspective on bankruptcy in New York

Filing bankruptcy in New York no doubt seems like an intimidating prospect. But often, the best way to deal with a fear of something is to become more familiar with it. So here are a few interesting things about bankruptcy that will hopefully make it out to be what it really is: a legal process that . . . → Read More: Some perspective on bankruptcy in New York

5 Pre-filing Tips for Bankruptcy in New York

Filing personal bankruptcy in New York can be an extremely effective–and legal–way to deal with overwhelming debts. However, since it is a legal process, that also means you have to be aware of the rules and understand how they will impact your case.

Here are 5 pre-filing tips for bankruptcy in New York. Learning about these now . . . → Read More: 5 Pre-filing Tips for Bankruptcy in New York

5 common mortgage scams for New Yorkers to beware of

Being under financial stress makes people extremely vulnerable to scams, whether in New York or elsewhere. The key is being aware, being educated and being skeptical. And of course, it never hurts to have an experienced New York bankruptcy attorney to check in with.

Here are five common mortgage scams that every New Yorker should know about. . . . → Read More: 5 common mortgage scams for New Yorkers to beware of

3 common questions about bankruptcy in New York

If you’ve never had to think about bankruptcy in New York before, then you likely have many questions. Fortunately, an experienced New York bankruptcy attorney can answer many of those for you via a free initial consultation.

That said, here are 3 common questions about bankruptcy (including answers) that may be helpful to you.

1. How much does . . . → Read More: 3 common questions about bankruptcy in New York

5 tips for improving your post-bankruptcy credit score in New York

A real concern for many who file for bankruptcy in New York is whether they can rebuild their credit score following the end of their bankruptcy case.

Fortunately, there are effective ways to do this. And there’s no magic to them. They’re simply common sense. Here are 5 good ways to improve your post-bankruptcy credit score in . . . → Read More: 5 tips for improving your post-bankruptcy credit score in New York

The Consequences of Filing Bankruptcy in NY

Filing bankruptcy in NY is something many New Yorkers have considered and many will continue to consider–especially given the state of the economy.

Today our Brooklyn bankruptcy lawyer discusses: What are the consequences of filing bankruptcy in New York City?

The Good:

1. Filing bankruptcy in NY stops calls from creditors and collection agencies immediately. The “automatic . . . → Read More: The Consequences of Filing Bankruptcy in NY

Refund Anticipation Loans and the Earned Income Tax Credit

Not so fast.....

H&R Block a usurious moneylender? That’s not the standard image for H&R Block or other major tax preparation agencies. However, part of their business does in fact involve making loans at what works out to be a rather high interest rate.

Tax preparation agencies frequently make “Refund Anticipation Loans” or “Refund Anticipation Checks” to clients who use their services to file their taxes. Generally in connection with lower income clients. In a sense, these loans are comparable to payday loans. You expect to receive a check, in this case a refund check. But you want to have the cash now. So they write you a check today in exchange for the money you would receive down the road. And they get to keep a piece of it.

The problem is, much like with Continue reading Refund Anticipation Loans and the Earned Income Tax Credit

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