Will It Soon Be Easier to Discharge Private Student Loan Debt in Bankruptcy?

In today’s blog post we ask the question: Will It Soon Be Easier to Discharge Private Student Loan Debt in Bankruptcy? The answer is maybe. Bills have been introduced in the House and Senate that would amend the U.S. bankruptcy code to allow privately issued student loans to be discharged in bankruptcy proceedings. Let’s put […]

When Should I File for Bankruptcy?

There are many reasons for people to file bankruptcy. The primary reason is if you owe more than you are capable of paying. You may believe that this is easy to determine; however not all people are able to recognize the warning signs. Many people avoid the bankruptcy topic because they feel there is a […]

Can I File For Bankruptcy without My Spouse?

Many clients ask us the question, “Can I file for bankruptcy without my spouse?” Yes, a person can file for bankruptcy without their spouse. However, the more important questions is “Should you file for bankruptcy without your spouse? Married couples are not obligated to file for bankruptcy together. One person can file for bankruptcy while […]

What Should I Do to File for Bankruptcy or Better Yet – What Should I Not Do?

As a NYC bankruptcy lawyer, people tend to ask, “What should I do to file for bankruptcy?” Sometimes an equally important question is “What should I not do?” Keep in mind, this information may change from state to state so consumers filing for bankruptcy should only use it as a frame of reference. Consumers filing […]

Changes to Bankruptcy Forms

Pending Changes in the Bankruptcy Forms As of December 1, 2012, the following amendments will take effect. Official Form 7 (Statement of Financial Affairs) is amended to make the form’s definition of an insider consistent with the definition in the Bankruptcy Code. Official Forms 9A – 9I (meeting of creditor notices) are updated on the first page and in […]

Foreclosure Help in New York

Are you facing foreclosure in New York? The first thing you should to is contact a foreclosure attorney. Just because the bank started the foreclosure process does not mean you have to lose your home. Typically, a foreclosure action takes approximately 1 to 2 years from the date the Summons and Complaint is filed. Homeowners that are […]

The Benefits of Filing for Bankruptcy

Filing for bankruptcy can help many people in financial distress. Here are some of the benefits of filing for bankruptcy. Discharge Most Debts  The bankruptcy discharge eliminates any personal obligation to pay certain types of debt. There are several types of debt that can not be discharged through bankruptcy (nondischargeable debt). For most people in […]

Famous People File For Bankruptcy

What do all these people have in common? PT Barnum, circus promoter L. Frank Baum, author of “The Wonderful Wizard of Oz” Kim Bassinger, model and actress Lorraine Bracco, actress and model Gary Busey, actor and reality tv star Jose Canseco, athlete George Clinton, musician Gary Coleman, child actor John Connally, former Texas governor Francis […]

Non-Dischargeable Debt

Certain types of debt can not be discharged by filing for bankruptcy. Although bankruptcy is designed to eliminate many types of debt, there are certain types of debt that can not be discharged. Some of these debts typically include, but are not limited to: most federal funded student loans federal taxes state taxes local taxes […]