Free Consultation
The office is open as per the NYS Covid-19 guidelines. We are now doing both in-person and telephone consultations. Please call the office at 718-855-6840 to schedule a time to speak with one of our experienced bankruptcy attorneys.

Debt relief

Why Hire an Experienced Chapter 7 Brooklyn Bankruptcy Lawyer

Debtors usually point to two reasons for not hiring an experienced Brooklyn bankruptcy lawyer before filing a chapter 7 case: affordability and necessity. Obviously, many people who owe significant debts frequently lack the money for a bankruptcy attorney. (As an aside, there are options for debtors who are too poor for bankruptcy filing fees.) The …

Why Hire an Experienced Chapter 7 Brooklyn Bankruptcy Lawyer Read More »

Income-Driven Repayment Plans Don’t Always Help Debtors Afford Homes

It’s often a challenge to discharge student-loan debt in a New York bankruptcy case, which is why I have consistently recommended debtors with federal-education loans choose income-driven-repayment (IDR) plans if they find their monthly payments difficult to afford. These plans reduce monthly payments to a fraction of ten-year repayment plan and offer loan forgiveness after …

Income-Driven Repayment Plans Don’t Always Help Debtors Afford Homes Read More »

CFPB Finishes Payday Lending Rule, Hopes to End ‘Debt Traps’

Payday loans are often very dangerous to consumers because their high interest rates make it easy for debtors to fall behind on their payments. Naturally, New York bankruptcy cases often include payday loans. Consequently, a few years ago the Consumer Financial Protection Bureau (CFPB) began drafting a rule that would regulate payday lenders while not …

CFPB Finishes Payday Lending Rule, Hopes to End ‘Debt Traps’ Read More »

How Do Debtors Prioritize Their Debts?

When debtors have too few funds to pay too many debts, they don’t try to distribute their money among all their debts. Rather, they prioritize some debts over others. The insight, courtesy of a blog post at the Federal Reserve Bank of New York’s Web site, can help debtors and New York bankruptcy lawyers determine …

How Do Debtors Prioritize Their Debts? Read More »

Researchers Disagree Over Debt-Management Strategies

It’s unusual for august publications like Scientific American to discuss why people might not manage debts as well as they should, particularly those who are otherwise good with numbers. Nevertheless, that’s exactly the question a guest blog post tackled recently: Debtors with multiple debts tend to focus on paying down the ones with the smallest …

Researchers Disagree Over Debt-Management Strategies Read More »

Scroll to Top