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Will Bankruptcy Make My Auto-Insurance Premiums Go Up?

Many New York bankruptcy debtors own cars and the mandatory insurance that goes along with them. Naturally it’s common for them to wonder what will happen to their auto-insurance premiums when they file bankruptcy. Will they go up? If so, what alternatives do debtors have? The short answer is yes, most auto-insurers charge increased premiums

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The Line Between Not Paying a Loan and Stealing

Consider what the difference is between someone who steals money from another and someone who borrows money from another without repaying it. At what point does that amount to simply stealing as well? In New York bankruptcy the line between these two is very important because a creditor that believes it has been cheated by

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When Should I File Bankruptcy?

An unscrupulous lawyer probably tell you that the best time to file bankruptcy is right now. An experienced New York bankruptcy lawyer by contrast would tell you that timing a bankruptcy filing depends on multiple factors. Here are several that can encourage debtors to file sooner or later. In the case of filing sooner: Preventing

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4 More Options for Affording Bankruptcy

It’s strange to think that bankruptcy costs money. How are people who don’t have money supposed to be able to pay for bankruptcy? The answer, unfortunately, is that bankruptcy does cost money; however, there are ways New York bankruptcy debtors can use the justice system affordably to gain their fresh start. I discussed this issue

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See a New York Bankruptcy Lawyer Before Paying a 25-Year Car Loan

The auto Web site Jalopnik published an investigative report on the predatory behavior of Credit Acceptance Corporation, a subprime auto-loan company with a poor reputation. The story focuses on debtors who signed auto-loan agreements as far back as the 1990s but are still being hounded by the lender decades later and after wage garnishments. The

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Who Were Chapter 7 New York Bankruptcy Debtors in 2017?

Last year I asked who chapter 7 bankruptcy debtors were, and just a few weeks ago, I discovered that Brooklyn bankruptcy filings were up in 2017 over 2016. Because the federal judiciary’s Bankruptcy Abuse Prevention and Consumer Protection report (BAPCPA report) came out recently, it’s fair to ask how 2017 compared to 2016 and whether

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Student-Loan Bankruptcy Alternative Rejects 99 Percent of Debtors

One of the more controversial alternatives to New York bankruptcy for student-loan debtors is Public Service Loan Forgiveness (PSLF). I say “controversial” because many Washington politicians and policy types think it’s much too generous to debtors and should be pared back. PSLF is similar to other government income-derived repayment (IDR) programs, but, well, it is

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When Exemptions Can’t Protect Everything

For about a decade, New York bankruptcy debtors have been able to choose which set of exemptions to use to protect their assets, federal or state. For most debtors, notably those who aren’t homeowners, the federal exemptions are the best option because they provide a larger cash exemption. The state exemptions, by contrast, are better

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What Is an Escrow Account and How Can It Affect My Bankruptcy?

“Escrow” is a term that sometimes appears in New York bankruptcy cases. It’s most familiar to homeowners, and its origin is clearly medieval. According to Dictionary.com “escrow” is similar to words like “scrap” or “scroll.” It’s only in the last two hundred years, though, that the term evolved to how it’s used today: a deposit

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