Posts by Simon Haysom

When Does It Become Absolutely Critical to File for Bankruptcy?

When your finances become tight there is certainly a point where you might be able to get out of debt without filing for bankruptcy. There are various methods, from paying down the debt with the highest interest rate first, to Dave Ramsey’s “debt snowball” method. Yet there are some times when it becomes absolutely critical…

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5 Issues that Can Tank Your Chapter 7 Bankruptcy

If you know you are going to be filing Chapter 7 bankruptcy in the future then there are some actions that you’re going to need to avoid taking to ensure that your case smoothly.  Here are five issues that can cause problems for Chapter 7. Side Hustles When you get into financial distress you might…

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Can Bankruptcy Help with Back Taxes?

While many people will enjoy a refund after they file their 2021 taxes, some will be hit with a big tax bill instead. This most often happens to small business owners, freelancers, and independent contractors who might not have been able to pay their monthly expenses and pay exorbitant quarterly tax bills too. Obviously the…

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What Do You Need to Bring to Your Bankruptcy Consultation?

When you bring everything you need to your bankruptcy consultation you help ensure your attorney will have everything necessary to properly advise you on your case. This also ensures that there are no costly mistakes on your paperwork. Understand that when you file bankruptcy your attorney will have to create a number of documents on…

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Should You Consolidate or Try Chapter 13?

Many people are so afraid of bankruptcy that they’ll try just about anything to avoid having to declare it. That’s why a wide variety of “debt consolidation” programs continue to thrive and operate. There are multiple types, and each of them come with unique problems. There are debt consolidation loans, which essentially just take your…

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How to Rebuild Your Credit Score After Bankruptcy

One of the biggest fears we hear from clients is the fear that bankruptcy will destroy their credit score. In reality, once your discharge is done bankruptcy usually improves your credit score, sometimes by as many as 80 points. That doesn’t help you much if you’re starting from a 520 credit score. Ideally, you want…

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5 Bankruptcy Myths, Busted

There are a lot of myths and misconceptions about bankruptcy out there. The credit and collection industry has a vested interest in scaring or shaming people away from the process. It’s almost ironic, since some of the very companies who perpetuate these myths would not hesitate, even for a minute, to file a business bankruptcy…

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What Happens During a Voluntary Car Repossession?

So you’re in over your head with your car payments and you’re trying to decide what to do. By the time you’re done making your payment and dealing with insurance your car is surely one of the biggest bills you have, at least, if you financed a late model vehicle through any modern day finance…

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Can Bankruptcy Stop an Eviction in Orange County, NY?

Right now the Covid-19 pandemic and the state of the economy have worked together to ensure that hundreds of thousands of New York residents are facing the possibility of eviction. There are few things more stressful than knowing you might become homeless while you’re still struggling to replace lost income.  Fortunately, the bankruptcy process can…

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How to Choose the Right Bankruptcy Chapter

Choosing a bankruptcy chapter is not a straightforward exercise. In fact, choosing the wrong Chapter is one of the biggest mistakes people make when they try to file a bankruptcy without an attorney. While we recommend talking to a Haysom Law attorney before choosing your Chapter, we can give some general guidelines on when each…

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