Chapter 7 Bankruptcy

How Does Business Bankruptcy Differ from Personal Bankruptcy?

Tuesday, October 15th, 2019

If your business is suffering, you may be considering filing for bankruptcy. While business bankruptcy and personal bankruptcy both serve as a way of reducing, restructuring, or eliminating debt to make it easier to become financially stable, the two processes are slightly different. Here are a few of the key differences between personal and business...  read more

What Is the Bankruptcy Means Test?

Monday, September 30th, 2019

If you’re thinking about bankruptcy, one of the things you need to know about and understand is the bankruptcy means test. This is the test that determines if you are eligible for Chapter 7 bankruptcy. If you are, then you can have some of your debt forgiven. If you are not, you have to file...  read more

Can I File for Bankruptcy During My Divorce?

Friday, February 15th, 2019

Dealing with a divorce is never easy, and it often puts you in a very difficult place financially. If you and your soon-to-be-ex have already started separating your incomes, you may already be operating off a budget smaller than what you’re used to. Divorce also means paying a number of legal fees. This can leave...  read more

Will Filing Bankruptcy Affect My Ability to Get a Job?

Wednesday, January 30th, 2019

If you’re considering filing bankruptcy, you want to make certain you’ve looked at all of the different angles and understand all of the consequences that come with this decision. There are times when bankruptcy is certainly the right answer, but there are still things you need to think about first. If you’re considering changing jobs,...  read more

Top 3 Wrong Bankruptcy “Facts” People Shouldn’t Believe

Thursday, November 29th, 2018

Filing for bankruptcy is a complex legal process that will affect everyone a little differently. Because of this, there are a number of myths and misinformation out there that you may have heard and believed. Before you start the bankruptcy process, you’re going to want to talk to a legal expert to get an idea...  read more

I’m a Little Behind on Bills – Should I File Bankruptcy?

Friday, October 19th, 2018

You’ve missed a few payments on your credit cards. You’re a month behind on one of your utility bills. You’ve told your landlord you absolutely will be able to pay your rent…it will just be two weeks late. If you’re in this financial situation and there doesn’t seem to be any solution in sight, is...  read more

What Will I Lose if I File Bankruptcy?

Wednesday, August 15th, 2018

Many people put off filing for bankruptcy because they believe they will lose everything they have. They’re concerned that their creditors will be able to seize their home, their vehicles, and even their possessions. However, that’s not always the case. There are different types of bankruptcy, and each bankruptcy situation is different. This means it...  read more

Chapter 7 Bankruptcy Overview for Brooklyn Residents

Sunday, July 16th, 2017

Filing for Chapter 7 bankruptcy can be one of the best ways to get out of unmanageable debt, but it isn't an option for everyone. As a way to discharge your debt, Chapter 7 allows you to get out from under the weight of extremely high payments - but only if you properly qualify. There...  read more

Top 3 Bankruptcy Myths

Monday, December 22nd, 2014

Misinformation, myths and assumptions seem to abound when it comes to bankruptcy and the laws surrounding the bankruptcy process. Whether people are under the impression that those who file for bankruptcy are financially inept, or it’s those looking to file who believe it will ruin their credit forever, it’s hard to separate the myths from...  read more

Bankruptcy Exemptions for New York State Debtors

Tuesday, October 28th, 2014

There are exemptions some people may qualify for when filing for Chapter 7 bankruptcy in New York, which can help a great deal in managing your remaining finances and overall stress level. First, let’s explain what we mean by “exemption.” When you declare bankruptcy, most people think all of their possessions are “up for grabs”...  read more

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