New York Bankruptcy
Is it Ever a Good Idea to Settle a Debt?
If you have debts in collections you may be familiar with the offer letters they sometimes send. You owe $300, they say, but if you’ll pay $258 right now we’ll consider the whole debt settled. Or perhaps you’ve seen signs that tell you that you can settle your debt for “pennies on the dollar.” Or…
Read MoreStudent Loan Relief in Orange County, NY?
If you are one of the many student borrowers in Orange County who is drowning in student loan debt you may see some relief soon. While it was very difficult to discharge student loans through bankruptcy in the past, some positive developments have opened some doors. First, lawmakers are moving to reverse the laws which…
Read MoreHow 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…
Read MoreHow 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…
Read MoreWhat 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…
Read MoreWhy 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…
Read MoreWhat 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…
Read More