Bankruptcy Archives - Page 7 of 87 - Bankruptcy Attorney in Brooklyn, New York

Why Would a Debt Collector Ask for Confidentiality in a Lawsuit Settlement?

It’s not uncommon for debt collectors to break the law when trying to recover money from debtors. Usually, their actions run afoul of the Fair Debt Collection Practices Act (FDCPA) or the Telephone Consumer Protection Act (TCPA). Violations of these federal statutes and their New York analogues can result in compensation for you and even …

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Strategies for Preventing Repossession of Your Vehicle

Bankruptcy / By Maggie Paley

Repossession agents (“Repo Men”) have unusually dangerous jobs. In fact the Repo Times (yes, there is an online publication dedicated to repossession news) has an entire “News” section that reports on the various incidents involving people attacking repossession agents. So, it’s important to remember that these are just people doing their jobs. They may be …

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How Much Debt Do I Need to File Bankruptcy?

Bankruptcy, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Debt, Means Test / By Maggie Paley

A common question raised by people who talk to a New York bankruptcy lawyer is “Do I have enough debt to file bankruptcy?” It’s a sensible question to ask because we tend to think that the law imposes minimum thresholds and other requirements in many circumstances, like speed limits. For a straight liquidation, chapter 7 …

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Bankruptcy Petition Preparers in New York Are Frequently Not Worth the Money

Leave a Comment / Bankruptcy / By Maggie Paley

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 …

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What is a Chapter 11 bankruptcy?

Leave a Comment / Bankruptcy, Business Bankruptcy, Chapter 11 Bankruptcy / By Maggie Paley

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 …

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Stay Clear of Payday Lenders, Bankruptcy Is So Much Safer

Leave a Comment / Bankruptcy / By Maggie Paley

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. …

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Note to New Yorkers: “Charged Off” Debt is NOT “Zombie Debt”

Leave a Comment / Bankruptcy / By Maggie Paley

“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 …

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How to Deal with “Zombie Debt” Collectors in New York

Leave a Comment / Bankruptcy, Creditors / By Maggie Paley

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 …

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How to Use Bankruptcy to Reduce Auto Loan Payments in New York

Leave a Comment / Bankruptcy / By Maggie Paley

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 …

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4 Steps to Escape Paying Income Tax on Discharged Debt in New York

Leave a Comment / Bankruptcy, Business Bankruptcy, Chapter 7 Bankruptcy / By Maggie Paley

Receiving a discharge from the bankruptcy court in New York is the goal of New York bankruptcy petitioners. It should be a relief so that people can continue their lives. Although, occasionally creditors claim the loans you discharged are forgiven instead; that means you’ll have to pay income tax on the forgiveness. What does this …

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(718) 855-6840

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.

Why Would a Debt Collector Ask for Confidentiality in a Lawsuit Settlement?

Strategies for Preventing Repossession of Your Vehicle

How Much Debt Do I Need to File Bankruptcy?

Bankruptcy Petition Preparers in New York Are Frequently Not Worth the Money

What is a Chapter 11 bankruptcy?

Stay Clear of Payday Lenders, Bankruptcy Is So Much Safer

Note to New Yorkers: “Charged Off” Debt is NOT “Zombie Debt”

How to Deal with “Zombie Debt” Collectors in New York

How to Use Bankruptcy to Reduce Auto Loan Payments in New York

4 Steps to Escape Paying Income Tax on Discharged Debt in New York

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