Posts by Simon Haysom

Which is Better, Chapter 7, or Chapter 13?

One of the biggest decisions you’ll make when you file for bankruptcy is which Chapter you’re going to file. For most New York residents who are not also business owners, that’s going to be either Chapter 7 or Chapter 13. Neither type of bankruptcy is necessarily better or worse. The type you file depends entirely…

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4 Ways Your Life Will Improve After Your New York Bankruptcy

Every loan-issuing business would love for you to believe bankruptcy is the end of the world. The life-altering last resort you should avoid at all costs. They want you to keep struggling. They want you to keep watching your debt go up while you struggle to make minimum payments. They want their money. And certainly,…

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How to Handle Your Holiday Credit Card Debt and Expenses

The month of December is filled with festive occasions, parties, and family gatherings. While quality time and conversation are central to these holiday events, gift giving also plays a central role in the season. To the joy and delight of family and friends, we exchange presents all of sizes and expenses. However, the excitement of…

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How Many Times Can You File for NY Bankruptcy?

Often, bankruptcy is a path to an improved financial future. At the conclusion of Chapter 7 or Chapter 13 bankruptcy, the court discharges the filer’s remaining debt. This clean slate allows the debtor to start new spending habits, begin rebuilding credit, and save wages and other income. Not everyone’s post NY bankruptcy transition is so…

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What Are the First 5 Steps in a Chapter 7 Bankruptcy Case?

At Simon Haysom, LLC, we are genuinely interested in the experience of our clients. One issue that is raised regularly are the concerns individuals have when they initially approach our team for bankruptcy advice in New York. Many people have questions on the type of bankruptcy appropriate for their financial situation or whether they are…

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Why Is Credit Counseling Required for an NY Bankruptcy?

If you want to file for individual bankruptcy under either Chapter 7 or Chapter 13 of the U.S. Bankruptcy Code, you must meet certain eligibility requirements. Some of these eligibility requirements differ by the type of NY bankruptcy you file. For example, you must pass the means test to show you make below the median…

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What Is Business Bankruptcy?

Individuals aren’t the only entity to struggle with finances, which is why we have business bankruptcy. Just as a person can accumulate debt, take out to many loans, and overuse a credit card – so can a company. In fact, businesses are far more susceptible to debt and overwhelming payment obligations. Why? The implications and…

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