In Traditional Chapter 11 the company must obtain at least one accepting class of creditors. This often means that the debtor must propose to pay creditors in full to obtain their consent. In the new Small Business Bankruptcy Chapter 11 this is no longer required....
Bankruptcy exemptions in New York
Many individuals who struggle to pay their debt avoid filing for bankruptcy because they worry that they will lose their home, vehicle and other assets. In fact, New York residents can keep a certain amount of personal property, called exemptions, in a bankruptcy...
Reason No. 1 to Investigate Small Business Chapter 11: Lower costs
Traditional Chapter 11 is very expensive. Because of numerous complex requirements, a Traditional Chapter 11 Reorganization can take a year or more to complete, and the attorneys' fees for handling the case for so long, and for completing the many steps of the...
What is a Bankruptcy Lawyer’s most important responsibility?
Figuring out if you should NOT file for bankruptcy. A Chapter 7 Bankruptcy has the power to recover Money or property that you have given as "gifts to others"; Repayments of loans from friends or family Payments of debts to preferred creditors just before bankruptcy...
Should you be Embarrassed to see a Bankruptcy Lawyer?
Most new clients are embarrassed to be in my office. Not only is that normal, it proves that those who file for bankruptcy are decent, hard-working people who are in the habit of paying their bills and are very uncomfortable about not being able to. In my 43 years as...
Why you should use a Board-Certified Bankruptcy Lawyer
Why Hire a Board Certified Lawyer Not all attorneys are trained equally. When you hire an attorney certified by The American Board of Certification, you hire an expert and true specialist. Paul Hollender is dual-certified in both Consumer Bankruptcy and Business...
New Small Business Chapter 11 Helps Small Businesses Reorganize with Lower Costs.
Chapter 11 has effectively been unavailable to help small business owners because of the high costs involved. A new law effective February 19, 2020 changes that! By simplifying the process, attorneys' and accountants' fees will be radically reduced, and the company...
Does chapter 13 bankruptcy prevent foreclosure?
If you find yourself overwhelmed by debt and unable to pay all your monthly bills, one possible solution is filing for bankruptcy. This legal action may allow you to recover from difficult financial circumstances, stop pursuit from creditors and start over with a more...
Types of domestic assault
According to the Arizona Coalition, control is domestic abuse. An abuser may have a controlling behavior to maintain dominance over their victim. The controlling behavior, justification of the controlling behavior through belief, and the abuse are the core issues in...
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...
Estate planning needs to be active and early
Many people fail to realize the importance of early and active estate planning. Some put it off thinking they are too young to need it. Others have estate plans that only include a basic will, with no thought toward what could happen between now and the time they die...
Choosing between an irrevocable trust and a living trust
Estate planning typically includes executing a trust, which serves as a separate legal entity to hold properties and assets for its beneficiaries. As reported by Kiplinger's Personal Finance, in addition to real estate, trusts may include financial accounts, cars and...
How does arbitration and mediation differ from litigation?
Litigation is a great way to get things done in a legal sense. It is one of the most traditional methods of handling disputes, especially those that are beyond your ability to resolve without outside interference. But what about alternative dispute resolution...
What is surrogate’s court and what do you do there?
When a loved one dies, not only do you have to process the grief, you need to process through their estate. This is often an emotional episode in your life and the lives of the loved one's other decedents. Whether you have a will or not in the aftermath of all that,...
Reducing inheritance conflict among siblings
Your children may need to lean on one another more than ever once you are gone, but if you are not careful, you run the risk of your New York estate plan – or lack thereof – creating conflicts among your kids. Inheritance battles are often expensive and...
How to avoid inheritance disputes
Estate planning helps you to ensure your loved ones have everything they need after your death, but inheritance disputes can tie up assets for years and break families apart. To reduce the likelihood of such disputes, consider these tips while making end-of-life...
Can you protect your elderly loved ones from financial abuse
As your loved ones age, they may become more vulnerable to abuse from people they trust. Financial abuse is one form of mistreatment that can violate privacy, damage reputations and threaten financial security. Protecting your loved one's against this type of abuse...
How does probate work in New York?
When someone dies in New York, his or her executor presents the will to the Surrogate's Court in the county where the person lived. In a process called probate, the court determines the validity of the will and supervises the administration of the deceased person's...
A look at small estates in New York
If you have a relatively modest estate, it is still important to set up an effective estate plan. Unfortunately, many people with modest estates fail to create estate plans, which often causes their loved ones to experience anxiety and uncertainty after their death....
How do you structure an estate plan review?
Estate plan reviews are a crucial part of your end of life plans. After all, you cannot simply create an estate plan and leave it as-is indefinitely. It needs to reflect your life in the current moment, which means it must change as your life changes. But how do you...
