New York Law Blog
What does a bankruptcy plan include?
Chapter 13 bankruptcy involves creating a repayment plan you will use to repay your creditors. This is different from filing Chapter 7 bankruptcy in New York where you liquidate your assets to pay back your debts and the court then dismisses any remaining debt. The...
What are priority debts?
When you file Chapter 13 bankruptcy in New York, you will have to create a repayment plan. This plan sets out a schedule for repaying your creditors. Your plan may not repay every creditor nor may it repay each debt fully. However, your plan will need to follow the...
Are you eligible for Chapter 13 bankruptcy?
When residents of New York fall into debt, it can seem like a long and difficult climb to get back out of it. Not only that, but there are so many choices for debt relief and different bankruptcy options available that it can feel impossible to choose which one will...
Debunked – Common bankruptcy myths
Like many in New York who find themselves struggling with overwhelming debt, you may shy away from filing for bankruptcy due to the potential immediate and long-term consequences. Bankruptcy is not a step you should take lightly, but much of its frightening reputation...
Which debts remain after filing Chapter 7 bankruptcy?
Debtors who are in over their heads do have an escape. Chapter 7 bankruptcy allows a person to embrace a new start. Through Chapter 7, you discharge your debts through liquidation. Your liquidated assets pay off your creditors. Unfortunately, you cannot discharge...
How can I handle my debt?
Either due to poor financial decisions, unexpected medical costs, or other occurrences, debt can add up fast for many people. At some point, the issue may seem insurmountable and even cause a great deal of mental distress. Fortunately, there are a number of effective...
Prepare to take classes when filing for bankruptcy
New Yorkers who find themselves in a black hole of debt may consider filing bankruptcy. As part of the requirements for either Chapter 7 or Chapter 13, the filer will likely have to take at least two classes at specific points in the process. The team at Corash &...
Understanding Chapter 11 bankruptcy
At Corash & Hollender, P.C., in New York, we help individuals and businesses facing overwhelming debt to file and proceed through bankruptcy. We therefore know that most people believe that Chapter 7 and Chapter 13 are their only bankruptcy options. Such, however,...
What are alternatives to Chapter 7 bankruptcy?
When residents in New York like you find yourself facing debt that seems insurmountable, you may end up feeling lost and hopeless. Even filing for bankruptcy may seem futile, especially if you are thinking about the potential negative effects of Chapter 7 bankruptcy....
Discussing Chapter 7 bankruptcy with your partner
There are many issues to consider when those who are deep in debt look into the bankruptcy process. First, it is crucial for people who are thinking about bankruptcy to review the different strategies that may be available and make sure that they find a solution that...
