New York Law Blog
Breaking down the Chapter 7 means test
Many of the clients to come to us here at Corash & Hollender, P.C. from Staten Island find that the collection efforts being taken by their creditors are only serving to drive them deeper and deeper into debt. If this describes your current situation, then you may...
Keeping the house in the Chapter 7 bankruptcy
According to SFGate, the general rule in a Chapter seven bankruptcy case is if you are current on your mortgage payments and you can show that you have the ability to pay, then you may be entitled to keep your home most of the time. If you are, however, behind on your...
What should you never do before filing Chapter 7 bankruptcy?
There are some things you should never do before filing for Chapter 7 bankruptcy. Making these mistakes could negatively affect your case, even if you do them several months before filing. Many people find that consulting a bankruptcy attorney can help clear up any...
Bankruptcy For Neighborhood Mainstay – Fairway Market
Nobody is immune to the risk of bankruptcy. Stores and household names can last for a long time but if the market changes, it can be hard to weather it on reputation alone. New York's own Fairway Market finds itself in this situation. As reported in the Wall Street...
What are your alternatives to chapter 7?
The chapter 7 bankruptcy code allows your trustee to sell all you own and pay your creditors. Since this bankruptcy code may lead to loss of property, it is critical to examine other more lenient alternatives. As a debtor, you should understand that there are several...
Student loans and bankruptcy
Many people facing overwhelming student debt consider filing for Chapter 7 or Chapter 13 bankruptcy. However, there is no automatic student loan debt discharge in New York. The New York Attorney General’s Office states that the courts may consider student loans during...
Bankruptcy options for sole proprietors
As the sole proprietor of your business, you have many distinct advantages, such as complete control over your business and ease of startup. If you run a corporation, you may be subject to double taxation due to the need to file both business taxes and personal taxes....
How does Chapter 7 affect your credit score?
Chapter 7 bankruptcy in New York can discharge most, if not all, of your debts. This means that you are no longer responsible for paying them, although you may lose some possessions to the liquidation process. However, even when your debts get discharged, Chapter 7...
How to bounce back after bankruptcy
People who file for bankruptcy in New York may experience a variety of feelings, such as shame, embarrassment, relief and fear. While this can be a challenging time, it is also the opportunity to begin fresh and start anew. To avoid getting into financial trouble...
What are your obligations under Chapter 13?
New York residents like you sometimes get into sticky financial situations. Fortunately, there are options for you to get back out. We have already taken a look at the requirements to file for Chapter 13 bankruptcy. Today, we will look at what your obligations are as...
