Leaving your case to an experienced New York bankruptcy lawyer is not the only step on the to-do list before filing bankruptcy. There are many things debtors should do (and not do) before they file, and the more organized and mindful debtors are, the easier the process will be and the more effective the result. …
File under non-bankruptcy options: What are some ways to pay down those credit card debts, stay out of New York bankruptcy, and possibly raise your credit score? Here are some answers: (1) Obtain your credit report. By federal law, you’re entitled to up to three free credit reports from the three credit reporting bureaus for …
Seven Tips for Paying Down Credit Card Debt and Raising Credit Scores Read More »
One might think that the answer to that question is “nothing,” but that’s not true. It is sometimes worthwhile for debtors to file chapter 13 New York bankruptcy intending to pay their creditors in full even if the discharge isn’t really necessary—a filing referred to as a 100 percent repayment plan. Obviously it doesn’t happen …
What Are the Benefits of a 100 Percent Chapter 13 Repayment Plan? Read More »
One might think that the answer to that question is “nothing,” but that’s not true. It is sometimes worthwhile for debtors to file chapter 13 New York bankruptcy intending to pay their creditors in full even if the discharge isn’t really necessary—a filing referred to as a 100 percent repayment plan. Obviously it doesn’t happen …
What Are the Benefits of a 100 Percent Chapter 13 Repayment Plan? Read More »
Because married couples often share debts, one obvious question is how they can use the bankruptcy process to their advantage. Here are several ways married partners can do so. (1) Because married partners aren’t obligated to file jointly when one of them encounters difficulties paying debts, they have some flexibility in how to deal with …
The Bankruptcy Code obligates a debtor to fulfill a number of duties to successfully complete a New York bankruptcy. Failure to do so can result in penalties ranging from dismissal to revocation of a discharge order to criminal penalties for bankruptcy fraud. 28 U.S.C. § 521 divides the debtor’s duties into ten subsections, and most …
What Documents Must Debtors File to Meet Their Duties in Bankruptcy? Read More »
Obtaining a discharge in a New York bankruptcy usually improves one’s creditworthiness just by eliminating bad debts, but that doesn’t mean a debtor’s post-bankruptcy credit score will be remarkably great. However, there are steps former debtors can take to raise their credit scores. One option that doesn’t come up often is using so-called “secured credit …
Secured Credit Cards Can Help Improve Credit Scores After Bankruptcy Read More »
People considering filing bankruptcy in New York are well aware of the consequences of a bad credit score. They can be denied credit; potential employers might not hire them; and landlords might decline to rent to them. Consequently there’s plenty of advice about how to maintain and buoy a credit score. What isn’t out there, …
One thing debtors are concerned about is their credit scores and the impact filing bankruptcy might have on them. Indeed, as the economy continues to struggle, the importance of credit scores has grown. Although they are not the be-all and end-all of one’s creditworthiness, banks, landlords, insurers, and even potential employers often use them to …
Few things are more aggravating than someone impersonating you to obtain credit. To make things worse, fraud on your accounts can force you into bankruptcy. Here are four types of information that if inadequately protected can lead you into bankruptcy. (1) Social Security information. A common way people steal identities is through Social Security numbers. …
4 Ways Identity Theft Can Lead to Bankruptcy in New York Read More »
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