Filing Bankruptcy as an Uber Driver in New York
In today’s challenging economy, many New Yorkers have turned to Uber as a full-time or part-time source of income. Whether it is a primary source of income or to supplement existing wages, driving for Uber has become a lifeline for thousands. But for many, especially after COVID-19, financial pressures have only grown, making bankruptcy a […]
New Means Test Local and National Standards May Help You Qualify for Chapter 7 Bankruptcy
If you are struggling with debt and considering filing for bankruptcy, recent updates to the Means Test standards might make it easier for you to qualify for Chapter 7 bankruptcy or potentially reduce your required payments in a Chapter 13 filing. As of May 15, 2025, the U.S. Department of Justice has issued updated the […]
Can I Keep a Mitchell-Lama Coop When Filing for Bankruptcy?
If you are a New York City resident considering bankruptcy and own a Mitchell-Lama cooperative apartment, you may be wondering: Can I keep my Mitchell-Lama coop if I file for bankruptcy? The answer is yes, thanks to bankruptcy exemptions that allows debtors to protect certain assets from creditors. In this blog, we will examine how […]
Second Mortgage Foreclosures
Facing foreclosure can be a stressful and complex process for homeowners, particularly for those with more than one mortgage on their home. In New York, defaulted second mortgages are increasingly leading to foreclosure due to an increase in home values which creates more equity for a second mortgage lien holder to pursue. There are a […]
The 2025 Update to Chapter 13 Bankruptcy Debt Limits
What Are Chapter 13 Debt Limits? Chapter 13 bankruptcy allows individuals to reorganize their debts through a court-approved repayment plan, that typically lasts up to five years. One of the most important eligibility requirements is that your total debts must fall under certain limits set by the Bankruptcy Code. These limits are particularly relevant for […]
The Federal Bankruptcy Exemptions Increase Effective April 1, 2025
What Is a Bankruptcy Exemption? When a debtor is considering filing for bankruptcy, they may think that they will need to give up their assets as part of the process. In most cases, this is not true, because of bankruptcy exemptions, which are legal protections that allow debtors to keep certain property or portion thereof […]
Are Personal Injury Settlements Protected in Bankruptcy?
If you are considering filing for bankruptcy and have the right to sue someone for a personal injury claim, you may be wondering whether the settlement proceeds, or award will be protected. The good news is that at least a portion of any personal injury settlement or award can be protected when filing for bankruptcy. […]
The 2025 Update to Chapter 13 Bankruptcy Debt Limits
What Are Chapter 13 Debt Limits? Chapter 13 bankruptcy allows individuals to reorganize their debts through a court-approved repayment plan, that typically lasts up to five years. One of the most important eligibility requirements is that your total debts must fall under certain limits set by the Bankruptcy Code. These limits are particularly relevant for […]
Understanding the April 2025 Update to the Bankruptcy Means Test Figures
For individuals facing overwhelming debt, bankruptcy can offer a much-needed fresh start. However, for those debtors who are considering filing for Chapter 7 bankruptcy, they must first find out if the means test applies to their case, and if it does, whether they pass it. As of April 1, 2025, the income thresholds used in […]
Is Tax Debt Dischargeable in Bankruptcy?
Now that tax season is nearing an end, what better time to discuss the dischargeability of taxes in bankruptcy? Receiving tax bills from the I.R.S. or New York State can be quite nerve-wracking. Additionally, the I.R.S. and New York State tax authorities can be very difficult to negotiate with. This may be further compounded by […]