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...]

TO REAFFIRM OR NOT TO REAFFIRM? That is the Question

Chapter 7 Bankruptcy: Reaffirming a Debt A Chapter 7 bankruptcy allows you to walk away from your debt and get a fresh start. However, there are times where you may want to keep a debt; in particular, keeping a mortgage or car loan. When the bankruptcy is filed, all creditors are subject to an “automatic stay”. Essentially that is a security blanket that prevents your creditors from collecting against you, suing you, repossessing or foreclosing on property. Once the case is discharged, this … [Read more...]

Chapter 7 v. Chapter 13: Which Bankruptcy 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 equity … [Read more...]

CHAPTER 13 – TOP 5 QUESTIONS

Chapter 13: Top 5 Questions Whenever considering a bankruptcy, you want to make sure you are completely informed of what you are signing up for. Our Westchester bankruptcy lawyers are here to assist you through these difficult financial times. Here are some of our clients pressing concerns…. 1. What if I can’t afford the repayment plan? A wonderful component of the Chapter 13 Repayment plan is that it can fluctuate with your circumstances. If your income decreases, there are opportunities … [Read more...]

The Basics of Chapter 7 Bankruptcy

No one sets out in life thinking, "Gee, I can't wait to file bankruptcy." However, there are many circumstances which can lead to dire financial consequences. Whether it's a loss of income because of a job lay off, medical expenses or a messydivorce there might come a time when filing for bankruptcy is the only viable option left open. In terms of personal bankruptcy, there are two options for filing: Chapter 7 or Chapter 13. In either case you'll need the help of an experience Westchester … [Read more...]