“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 …
Filing bankruptcy in NY is something many New Yorkers have considered and many will continue to consider. 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. The “automatic stay” goes into effect …
Chapter 7 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 »
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 …
Stopping wage garnishment is often the trigger that leads New Yorkers to seek out a New York bankruptcy attorney. If you were avoiding your financial problems before, the possibility of payroll garnishment forces you to wake up and figure out your next step. Below are several things to be aware of if you wish to …
Stopping Wage Garnishment: A few things to be aware of Read More »
“Bruce Weiner Debt Case Studies” is a recurring feature on this blog that summarizes some of the facts in a client’s bankruptcy case. The goal is to share the kinds of real world circumstances that lead people to bankruptcy, and to demonstrate how the bankruptcy process and a good bankruptcy lawyer can help. Case Study: …
Bruce Weiner Debtor Case Studies: Other people’s debts Read More »
How do you know if you should file for Chapter 11 bankruptcy, rather than say Chapter 7 or Chapter 13 bankruptcy? I’ve worked for over 30 years as a bankruptcy lawyer in New York, and while Chapter 7 bankruptcy (aka liquidation) is by far the most common, and Chapter 13 bankruptcy (aka repayment plan) is …
Can my employer fire me for filing for bankruptcy? Can my employer fire me based on my race? No and no. You can’t be fired based on your race. And you can’t be fired just because you’ve filed for bankruptcy. The bankruptcy laws specifically prohibit firing an employee because of a bankruptcy filing. Many people …
Can my employer fire me for filing for bankruptcy? Read More »
How much does a bankruptcy filing affect your FICO score? In the big picture, this may not be the right question to ask. In 2010 FICO made public some–not all, just some–of the information behind their mysterious, black-box credit scoring system. The answer to the bankruptcy question is: It depends on the individual. But it appears …
How much will a bankruptcy filing affect my FICO score? Read More »
Elderly Americans are frequently victims of debt problems and need to file bankruptcy. Especially those on fixed incomes. However, many senior citizens don’t realize that they also have certain advantages afforded to them under the bankruptcy laws. For example, retirement accounts and social security income are almost always protected from creditors. And many senior citizens …
How does debt and bankruptcy affect senior citizens? Read More »
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