Bankruptcy and divorce often go hand in hand. And that’s for debtors in New York as well as elsewhere in the U.S. In fact, divorce is one of the leading causes of bankruptcy, along with medical debt and job loss. Often people think that bankruptcy is a cause of divorce. But that’s generally not the
Pre bankruptcy planning might be the most important thing you do if you plan on filing bankruptcy. So make sure you’re working with an experienced New York debt relief attorney. Pre bankruptcy planning DOES NOT mean that you run up a big debt on your credit card right before you file for bankruptcy with the
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
Can creditors call you at work in New York? Under the fair debt collection law (known as the Fair Debt Collection Practices Act), the answer is YES–UNLESS you tell them that you cannot take calls at work. And you can communicate this to a debt collector either orally or in written form. It is important
Brooklyn bankruptcy lawyers can help you file for bankruptcy in New York. But not everyone is eligible for Chapter 7 under the 2005 bankruptcy laws. An experienced New York Chapter 7 bankruptcy attorney is therefore extremely important in helping you figure out if you are eligible for Chapter 7. Who can’t file for Chapter 7?
“How do I declare bankruptcy?” It’s of course not as simple as that scene in The Office where Steve Carell’s character stands in front of his colleagues and literally “declares” bankruptcy out loud for all to hear. (Ask any other Brooklyn, NY bankruptcy attorney and they’ll confirm this for you as well.) The first step
Medical debt is responsible for over 60% of all bankruptcies in the U.S., and New Yorkers are no exception. People often think that medical debt has some special status. But if you consult with any experienced Brooklyn debt relief attorney, you’ll realize it’s actually just unsecured debt, no different than credit card debt. Bankruptcy and
You’re running a business and are considering filing for corporate bankruptcy in Brooklyn or elsewhere in New York. What are your options and what do you need to know? First, if you’re a corporate entity, you need to work with a bankruptcy attorney (preferably one with substantive corporate bankruptcy filing experience in New York). Second,
Debt rates have decreased in for New Yorkers, according to the Federal Reserve Bank of New York. That means, generally speaking, New Yorkers are carrying smaller debt loads than before. However, according to the same data, we’re not doing it quite as quickly as the rest of the country. Does the the reduction in debt
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.
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