New York Law Blog
How does your employment status affect bankruptcy?
If you are preparing to file for personal bankruptcy, you are not alone. The United States Courts report that over 700,000 people filed for bankruptcy in 2019, and while this number does not eclipse business bankruptcies for that year, it is still considerable. There...
Can your credit history affect your immigration status?
In a misguided effort to screen out “public charges,” the U.S. Citizenship and Immigration Service instituted a new rule late last year. If you are an immigrant, this new rule unfairly links your credit history to your immigration status. A “public charge” is someone...
A look at Chapter 11 Bankruptcy from the view of the IRS
Early in 2020 the IRS made a number of procedural changes to its manual on Chapter 11 Bankruptcy. A look at the material shows that many of the changes and additions to the manual consisted of editorial tweaks and clarifications. Nonetheless, the reorganization of...
What is a Chapter 13 repayment plan?
When you file for Chapter 13 bankruptcy, you may wonder what steps come next in the process. After filing for this type of bankruptcy, you need to acquire a reorganization plan, which allows you to restructure your debt. Learning about it According to FindLaw, a...
What is an automatic stay in a Chapter 7 bankruptcy?
If you struggle with medical expenses, credit card debt and mortgage payments in New York, you are not alone. In 2019, more than 773,360 people filed for bankruptcy in the United States, according to United States Courts. People have trouble keeping up on their...
What is Chapter 13 bankruptcy and how can it help you?
Many of us have struggled with debt at some point, and may have even wondered what bankruptcy could do for us. Chapter 13 bankruptcy, made for towards those with a stable income who are looking to reduce their debt, can be a viable option for someone who needs...
Debts that remain after Chapter 7
For many people, declaring bankruptcy is the beginning of a new chapter in their lives. It can be difficult to make the decision to declare bankruptcy, but most people who have done so state it was a very good idea. However, not all debts go away as a result of...
When could a business bankruptcy lead to a personal filing?
If you are a small business owner in New York struggling with cash flow issues, you are not alone. A bankruptcy petition may provide relief and help your business survive a setback. Under certain circumstances, the court may require you to use your personal income...
What is a secured credit card?
Going through Chapter 7 bankruptcy can be daunting, but starting with a clean financial slate can help you move forward with confidence. However, one of the big negatives of a Chapter 7 bankruptcy is the effect that it has on your credit score. To this end, many...
COVID-19 financial worries? Are you Confused? Call a Consumer Bankruptcy Specialist
What will happen when: your employer gets its Paycheck Protection Program money, but your company has no customers? your $600 federal unemployment supplement expires?Coronavirus Economic Crisis: CARES Act makes Chapter 7 Bankruptcy Easier You have to stay home to...
