New York Law Blog
Is emotional spending to blame for your bankruptcy?
While filing for bankruptcy may help you start to reclaim your life in New York, it is better to go one step further and pinpoint what led to your filing for bankruptcy in the first place. Maybe your financial woes were due to emotional spending. If you feel this is...
Settling business disputes without going to court
All business owners want to make their vendors, customers and employees happy. But sometimes you may end up in a dispute that you cannot easily settle. When significant amounts of money or a reputation is at stake, sometimes you need to get help. Staten Island...
Why are more baby boomers filing for bankruptcy?
If you are a New York resident approaching retirement age, you may be considering joining the large and growing number of baby boomers across the nation who are looking into bankruptcy protection. As reported by U.S. News, current trends in wealth inequality are...
Rising rent pushes iconic New York retailer into bankruptcy
Barneys, the iconic New York luxury department store, filed a petition for Chapter 11 bankruptcy and plans to close 15 of its stores. According to the New York Post, the rent on its flagship location doubled, which pushed the company to file for bankruptcy protection....
Creditors who have priority in Chapter 11
The main benefit of Chapter 11 bankruptcy is that it allows your Staten Island business time to pay debts while you reorganize your operation so that it can become profitable. As part of your reorganization, you need to work out a plan to pay your creditors. However,...
Bankruptcies in New York are steadily on the rise
There is a steady rise in New York consumers filing for bankruptcy, and the number of petitions is anticipated to also grow across the nation. The New York Post reports that many more people are expected to seek debt relief through bankruptcy. The possibility exists...
BANKRUPTCY CASE DISMISSED DUE TO SELECTION OF WRONG ATTORNEY
He went to an attorney in Manhattan to stop the foreclosure sale of an investment property in Brooklyn. The attorney filed a chapter 13 case, failing to recognize that the client did not quilify for chapter 13 (owning three properties, his total mortgages exceeced the...
Get informed before using a debt settlement program
If you have been struggling with debt recently, you may be even more aware of TV and radio commercials offering quick fixes to resolve your problems. Using debt settlement, some companies claim to reduce your debt in record time. Carrying the burden of overwhelming...
Qualify for Bankruptcy by Fixing the “Deed-Transfer-to-Wife” Trap
Afraid of losing his house because of his huge taxi medallion loan, he followed his friends' advice: he took his name off the deed, leaving his wife as the only owner. MISTAKE: There is now a 6 year wait, during which the transfer can be challenged. If he files...
How landlords can avoid potential problems with tenants
Owning and managing rental property is not an easy task. If you are a landlord in New York, you understand how complicated it can be to protect your property rights while also respecting the rights of your tenants. This is not an easy balance, and it can be helpful to...
