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...]

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...]

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...]

CHAPTER 7 – TOP 5 QUESTIONS

Chapter 7: 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.       Why do they want to know my husband’s income, he is not filing? One of the grandest changes to the bankruptcy laws in 2005 was what the court has deemed “disposable income”.  Under the … [Read more...]