Family Law: Prenuptial Agreements

A ring is purchased, he’s on one knee, tears begin to spill….and you say, “Yes, I’ll marry you.” The happy times begin as the wedding planning is in full swing. But there is one conversation left to have…someone wants a prenuptial agreement. Often the first thought is…divorce. If someone wants a prenuptial agreement, that means they plan to divorce at some point in the future and that’s just not a good start to a marriage. However, prenuptial agreements can be very protective for all parties … [Read more...]

BEWARE OF DEBT CONSOLIDATION COMPANIES

I cannot begin to tell you the number of clients who come to me after starting with debt consolidation companies.   They have thing in common: they have less money than they did before they started with these companies.  If you owe a lot of money, and just can’t manage, you are an easy target for the unscrupulous who come out of the woodwork to prey on the vulnerable. THINK BEFORE HIRING - NOT FOR PROFIT DOES NOT EQUAL CHARITY Before you think of hiring one of these firms: Google! And, … [Read more...]

Bankruptcy: I’m on my Mom’s House

I need to file a bankruptcy, but I’m on my Mom’s House??? My mom put me on the deed to her home so as to protect it during the probate process, but it’s not my house. In a bankruptcy, the Court will look at all of your assets and debts, that includes any property that your name is on – including your mom’s house. That does not necessarily mean you cannot qualify for a bankruptcy, but it is something that our attorneys need to know about and to manage as part of your debt resolution. … [Read more...]

Garnishments: Can I get my money back after filing Bankruptcy?

Paychecks, bank accounts, even tax refunds….all sources can be subject to a creditor garnishment for a balance owed. And every time a garnishment happens, it feels as if that debt will never go away. Unfortunately, when you get to the point of being garnished, you are not only being garnished on the debt itself, but also on attorney fees and court costs – often times doubling what you originally owed that creditor. Our attorneys are here to help you stop garnishments through the bankruptcy … [Read more...]

Bankruptcy and Cancellation of Debt – 1099c

Bankruptcy and 1099c Forms With tax season just about behind us, many of our clients have questions regarding a 1099c “Cancellation of Debt” form they received. A hidden burden of settled debt, whether on your own or through Debt Consolidation programs, is this “cancellation of debt”; any balance the creditor forgave on your debt will be considered taxable income to the IRS. The timing of your bankruptcy filing can dictate how this matter gets corrected. If a creditor sends you a … [Read more...]

Filing Bankruptcy: Will my Boss Find Out?

Filing for bankruptcy can elicit any number of fears: what will my family think? Who will find out? Can I lose my job? All of these are normal concerns and issues that our Westchester bankruptcy attorneys will discuss during your initial consultation. A bankruptcy is a public record, and it will show up in your local legal newspapers. However, the negative stigma associated with bankruptcy is very minimal….you will not be walking around with a big scarlet “B” on your chest. The … [Read more...]

Debt Consolidation v. Bankruptcy

Our office frequently fields questions regarding the advantage of a bankruptcy over debt consolidation – after all, no one really wants to be considering bankruptcy. However, bankruptcy will afford you more protection from your creditors than debt consolidation services provide. 1. Debt Consolidation: this service allows you to work with your creditors and attempt to settle your debt pennies on the dollar. The advantage to debt consolidation is primarily the feeling that you did not have to … [Read more...]

Bankruptcy Following a Judgment of Divorce

“My ex-spouse filed a bankruptcy and creditors are now coming after me…but he/she took the debt in our Judgment of Divorce.” A divorce is final and you believe everything is resolved, all prior ties are cut, and it is time to move on with the next path in life. Than the phone begins to ring, a creditor is saying you owe money. You pull out your Judgment of Divorce, tell them your ex-spouse took the debt, and they tell you its irrelevant, either pay the debt or they will sue. You are wondering … [Read more...]

CHAPTER 7 OR 13, WHICH IS RIGHT FOR ME?

When considering a bankruptcy, you and our attorneys will work together to fashion a bankruptcy that best fits your situation. So what is the difference between the available types of bankruptcies?   Chapter 7: Liquidation A Chapter 7 bankruptcy is commonly referred to as a “liquidation” of your debts; it allows you to walk away from your debt and get a fresh start. You will be able to hang onto mortgages and car loans, permitting you are current with those creditors and there is limited … [Read more...]

How to Rebuild Your Finances After Bankruptcy

Yes, there is life after bankruptcy. In fact, that post-bankruptcy era could turn out to be extremely prosperous because you've learned what not to do when it comes to debt. While it is true that the bankruptcy will be popping up on your credit report for the next seven years that doesn't mean you're frozen out from getting credit or a loan or making major purchases such as a car or home. You're just going to be a lot smarter about that! Here are some other tips for helping you rebuild your … [Read more...]