What is a Chapter 11 bankruptcy, do they ever happen in Brooklyn, NY, and do I need Chapter 11 bankruptcy attorneys to file a Chapter 11 case? 1. Chapter 11 bankruptcy is “reorganization,” as opposed to Chapter 7 “liquidation.” It’s frequently used by corporations that need bankruptcy protection. And it’s also often used by individuals …
The Small Business Reorganization Act, signed into law by President Trump in August 2019, became effective on February 19, 2020, shortly before the coronavirus struck hard in the U.S. By the end of March 2020, Congress had enacted, and President Trump had signed, the $2 trillion “Coronavirus Aid, Relief and Economic Security Act” (CARES Act), …
The Small Business Reorganization Act, signed into law by President Trump in August 2019, became effective on February 19, 2020, shortly before the coronavirus struck hard in the U.S. By the end of March 2020, Congress had enacted, and President Trump had signed, the $2 trillion “Coronavirus Aid, Relief and Economic Security Act” (CARES Act), …
The coronavirus pandemic has been a disaster for the U.S. economy. Countless people have lost jobs and have filed for unemployment. Restaurants and bars have been closed for months, and social distancing means their customer load will be cut at least by half if, and when, they re-open. Looting, during the protests after the murder …
The $2 trillion “Coronavirus Aid, Relief and Economic Security Act” (CARES Act), signed into law by President Trump on Friday afternoon. provides financially distressed consumers and small businesses with greater access to bankruptcy relief. Key bankruptcy provisions within Section 1113 of the CARES Act include: Amending the Small Business Reorganization Act of 2019 (SBRA) to …
This training, presented by the New York County Lawyers Association Continuing Legal Education Institute, is designed to help participants gain an understanding of how to handle a business bankruptcy case under Chapter 11 of the Bankruptcy Code. Its panel — Bruce Weiner, Esq., Todd Duffy, Esq. and Gabriel Del Virginia, Esq. — will also pay …
For too many people, bankruptcy feels like giving up. Choosing other, riskier options may make them feel as though they’re still in control, and who knows? Maybe things will turn around for them. They run down their savings, rely on credit cards, and then as a last resort make a visit to a payday lender. …
Stay Clear of Payday Lenders, Bankruptcy Is So Much Safer Read More »
“Zombie debt” is a debt you no longer owe that a collector has bought from a creditor nonetheless—for a fraction of the price. The collector then tries to enforce the debt you no longer owe, hoping you’ll repay it. Elsewhere, you may have heard the term, “charged off debt,” and wonder if it’s the same …
Note to New Yorkers: “Charged Off” Debt is NOT “Zombie Debt” Read More »
At some point, if it believes it will never be repaid, the original bank that makes a loan will sell it to a debt collection company. The loan will be bundled with numerous other ones in the sale, and the price will be a fraction of the total value of the loans. Because of the small …
How to Deal with “Zombie Debt” Collectors in New York Read More »
Many New Yorkers have difficulty with auto loans. In some cases, the car’s value has depreciated significantly, making resale difficult, and in others the car was over-financed to begin with, which is more common when the dealership plays the role of lender as well. Unlike the underwater mortgage, the bankruptcy code offers solutions that are …
How to Use Bankruptcy to Reduce Auto Loan Payments in New York Read More »
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