Posts by Simon Haysom
How to Enjoy Financial Freedom After Bankruptcy
Once you achieve your bankruptcy discharge, you’ll achieve a second chance. If you want to make the most of it, you’ll need to take conscious steps to change the way that you approach your financial life—even if your bankruptcy was the result of unforeseen circumstances or issues. Fortunately, there are many ways that you can…
Read MoreWhat Happens if My New York Bankruptcy Case is Dismissed?
Having your bankruptcy case dismissed is not a happy outcome for most cases. Usually, it happens when you have failed to comply with court rules, have violated court procedures, have failed to file forms on time, or have committed bankruptcy fraud. Your case may also be dismissed if you fail to attend your 341 meeting…
Read MoreHow Your NY Bankruptcy Impacts Your Social Security
Many older Americans who are contemplating bankruptcy worry it may impact their Social Security benefits. This is a reasonable concern, as many retirees rely on that income to survive. Here’s what you need to know. You Must Report Social Security You must report your Social Security income on your bankruptcy schedule like any other income…
Read MoreYour Rights Under the Fair Debt Collection Practices Act
The Fair Debt Collection Practices Act is one of the most important laws protecting consumers from debt collectors. It is vital for you to understand your rights under the FDCPA and to understand what to do if those rights are being violated. The FDCPA has been the law since March of 1978, and it was…
Read MoreCan You Inherit Debt in New York?
You may have read multiple news stories about collection agents calling people whose loved ones have died, attempting to hold them responsible for the deceased’s debts. Fortunately, there are only a handful of cases where a person directly inherits debts. A Deceased Person’s Debts Come Out of the Estate While it may feel like you’re…
Read MoreDebunking Common Bankruptcy Fears for New York Residents
Bankruptcy rumors persist even though over 750,000 American families file for Bankruptcy every year. Myths and fears about bankruptcy aren’t harmless. They frighten families into making bad financial decisions, such as withdrawing money from a retirement fund to pay off bad debt or continuing to pay creditors long past the point where it makes sense…
Read MoreThe Pros & Cons of Chapter 7 vs. Chapter 13 Bankruptcy
Some people may only file one form of bankruptcy. There is a means test, and often, the means test will shunt a borrower into one plan or the other. Nevertheless, some people do have a choice. If you’re one of them, you must know which bankruptcy chapter is right for you. Here are the advantages…
Read MoreWhat Are the Duties of a Bankruptcy Trustee?
Whether you file Chapter 7 or Chapter 13, your New York bankruptcy case will come with a court-appointed administrator known as a “trustee.” Many of our clients are a little afraid of the trustee and don’t fully understand the role that person will play in their bankruptcy case. By understanding, you can put your mind…
Read More4 Mistakes to Avoid at Your 341 Meeting of Creditors
The 341 meeting of creditors is a mandatory part of the bankruptcy process. For most people, it’s routine. The creditors don’t show up, the trustee verifies the information on your bankruptcy filing document, you go home, and your bankruptcy case proceeds as it’s meant to. Every now and then, something goes wrong. Sometimes, 341 meetings…
Read MoreWhat Will Your Chapter 13 Payment Be?
Chapter 13 payment plans cause a lot of anxiety to people considering bankruptcy. While it’s impossible to give you a specific number until we look at the facts of your case, we can give you some guidelines to help you figure out what your plan payment might look like. Here’s how your Chapter 13 payment…
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