Corash & Hollender, P.C.
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June 2015 Archives

Can an individual file for Chapter 11 bankruptcy?

The answer is "yes," but a consumer rarely is in a position when this is needed or desirable. Chapter 11 is a type of bankruptcy that is suited to businesses just as Chapter 7 and Chapter 13 are designed to benefit consumers. An individual is not prohibited from filing for Chapter 11 bankruptcy -- other types of bankruptcy are often more suitable -- but it's worth learning more to compare this bankruptcy with other types.

It's frustrating that student debt isn't addressed in bankruptcy

For a moment, we would like you to consider the life of a young adult who just graduated from college. He or she is going out into a world where the job market, though much better than the depths it plunged into in recent years, is not exactly forgiving. They have accrued an immense amount of debt as a result of their college education, and they are just trying to find a job to start their career.

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1200 South Avenue, Suite 201
The Corporate Park Of Staten Island
Staten Island, NY 10314

Phone: 718-442-4424
Fax: 718-273-4847
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7317 13th Avenue
Brooklyn, New York 11228

Phone: 718-442-4424
Fax: 718-273-4847
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