A Tradition Of Caring And Compassionate Representation For Staten Islanders
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...
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...
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....
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...
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...
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...
As an individual in New York who has fallen into dire financial straits, you may be able to file Chapter 11 bankruptcy. However, it is more common for a business to file Chapter 11. Eligible businesses include partnerships, sole proprietorships and corporations....
Whether filing for consumer or commercial bankruptcy in New York, it can feel like an admission of financial failure. When a business is involved, entrepreneurs may feel as though their entire life’s work has gone up in smoke. These are natural feelings to harbor but...
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...
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...
