If you own a small business in Brooklyn, New York and are facing financial difficulties, it’s important to know that filing business bankruptcy is an option for you. What kind of business bankruptcy information do you need to proceed? First, you need a lawyer. Preferably an experienced Brooklyn business bankruptcy lawyer. Second, you need to …
Business Bankruptcy Lawyers in Brooklyn, New York Read More »
“I need to keep my car. Bankruptcy seems like it could make me lose it. What are my options in New York?” This is a common concern among people considering filing bankruptcy in New York. Fortunately, the bankruptcy code recognizes that people often need their cars so they can go to work and continue to …
Chapter seven bankruptcy (or “straight liquidation”) is the most common form of bankruptcy filing in New York and around the U.S. Thanks to the “means test,” however, it’s slightly less frequently used than it used to be. That’s because the means test for Chapter 7 bankruptcy was essentially put in place by the credit industry …
Chapter 7 bankruptcy and the means test: What does it mean? Read More »
If you’re thinking of filing for bankruptcy in New York and you previously took out a 401(k) loan, what should you be aware of? First, it depends upon whether you’re going to file for Chapter 7 or Chapter 13 bankruptcy. (And that’s a question to discuss with your experienced bankruptcy attorney in New York.) In …
Once you file for bankruptcy in New York (or anywhere else for that matter), you are protected by the automatic stay. In a nutshell, that means no creditors (including the IRS!) can take, or collect or even attempt to collect anything from you without the Bankruptcy Court’s permission. (FYI, if the Bankruptcy Court gives such …
Foreclosure looms over your Brooklyn home (or Manhattan, Queens, etc. home). You’re not sure what to do about it and may be wondering if a bankruptcy filing will help. Will bankruptcy stop foreclosure? Of course, the answer depends on your situation. There are many different factors to that affect the decision, which an experienced New …
The latest Bankruptcy Bill cartoon is out (“Bankruptcy Bill #25: Dutch Date“) and finds humor in the euphemisms bankruptcy lawyers might employ in discussing a blind date gone awry. The humor is intended primarily for an audience of bankruptcy lawyers. But I thought it also offers a nice opportunity to educate my clients and other …
There’s a new study out titled “Risky Business: Financial Firms Face Wave of Fraudulent Transfer Claims“ by Navigant Consulting and The Economist Intelligence Unit. The gist of it is that debtors, trustees and creditors committees are increasingly pursuing “fraudulent transfer” (aka “fraudulent conveyance“) claims (i.e., attempts to recover improper payments) in the wake of the …
If you weren’t already cynical about the credit card industry’s practices in the face of the Credit CARD Act of 2009 which went into effect yesterday (Feb 22, 2010), take a look at this very funny and “educational” video by Mark Fiore: [youtube=http://www.youtube.com/watch?v=NCJHi-b0rhw&feature=player_embedded] Click here to read more posts on NYBankruptcyNet about credit cards For …
Credit card practices “explained”….in a funny and satirical way Read More »
The Credit CARD Act of 2009 goes into effect TODAY, February 22, 2010. What does it mean for New Yorkers like you and me? Will it really help us? Is there anything we have to watch out for? The answers: More protections. Yes, to some extent. And yes, there are things to watch out for. …
The new credit card law: What New Yorkers need to know to protect themselves Read More »
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