New York Bankruptcy

When debts are sent to collections your financial situation takes a turn for the worse. It’s easy to make mistakes. It’s even easy to forget that you have rights under the Fair Debt Collection Practices Act and New York’s debt collection regulations. When and how should you act when you’ve got debts in collection? What…

Living on a Chapter 13 plan isn’t exactly fun, and if your financial picture starts to improve you might be hoping that you can simply pay it off early and be done with it fast. Unfortunately, a Chapter 13 repayment plan isn’t as simple as a loan repayment plan. Here’s what you need to know.  …

If a creditor successfully sues you over a debt then that creditor can garnish your wages. Wage garnishments are humiliating and frightening, as they reduce your paycheck and make it even harder for you to make ends meet. Certain creditors can garnish without a lawsuit. Money can be taken for child support, unpaid student loans,…

Even when you’re filing for bankruptcy you’ll still need a place to live. It’s pretty common for people to want to buy or sell their homes at some point during the bankruptcy process, especially during Chapter 13 bankruptcies which can last 3-5 years. You generally would not try to sell a home or buy one…

If you’ve followed the advice to check your credit report on an annual basis you might have found some accounts that have been marked as “charge-offs.”  You may already know that this means the account has been written off on the original creditor’s taxes. The primary creditor has chosen to avoid pursuing the account.  Unfortunately,…

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…

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…

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…

More senior citizens are filing for bankruptcy than ever before. Across America, people are spending their golden years burdened by excessive medical and student loan debt. That means many people who file for bankruptcy have reverse mortgages. It’s important to understand how your reverse mortgage can be impacted by your bankruptcy and what your bankruptcy…

It’s natural to start looking for options when your car payment turns out to be a little harder to manage than you expected it to be. If you’ve already explored refinancing and have been denied, what is your recourse? You might try to sell the car, but many people in your situation are upside down…