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...]

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...]

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...]