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New Yorkers who have debt problems regularly don’t have enough money to pay a bankruptcy attorney. There’s a strong incentive to cut costs as much as possible, and one way to accomplish this, they’re told, is to hire a bankruptcy petition preparer. There are many reasons to steer clear of these folks. Primarily, bankruptcy petition

Once a primary mortgage is underwater (i.e., the payments left on the mortgage are higher than the total value of the house), the second creditor holding the second (or higher) mortgage is in a precarious situation. At this point the homeowner has plenty of options in this situation, including discharging it in bankruptcy and then

Frequently, when people file bankruptcy in New York, they don’t have much in the way of assets (e.g., a house and a car), but they do have quite a bit of debt. These cases sometimes have their difficulties, but for the most part a Chapter 7 or Chapter 13 will address the problem. In other

On February 7, 2012, the National Association of Consumer Bankruptcy Attorneys (NACBA) published the results of a survey of its 860 of its members. It found that a whopping four out of five bankruptcy attorneys reported a “major jump” in student loan debtors seeking counseling with bankruptcy attorneys. The NACBA characterized the problem as the

Most New York bankruptcies are either in Chapter 7 or Chapter 13. The two chapters provide benefits and drawbacks to petitioners, which means there are good reasons to file in one chapter and not another. For example, if you borrow money to buy a car, have a relative co-sign on the loan, and then run