Options When Struggling with Merchant Cash Advances

Merchant Cash Advances

When a small business is struggling financially, they may find they are unable to obtain credit from traditional lenders. In order to obtain the capital to keep the business operating, they may procure a Merchant Cash Advance. In this blog, we will look at Merchant Cash Advances and the debt relief options available to business […]

What Is the Marital Adjustment Deduction?

Marital Adjustment Deduction

The Means Test and the Marital Adjustment Deduction Since the Bankruptcy Code was amended under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), a debtor needs to determine if they are subject to the Means Test before they can file for Chapter 7 Bankruptcy. See 11 U.S.C. § 707. The Means Test […]

What Are the Federal Bankruptcy Exemptions?

Bankruptcy Exemptions

When a debtor files for bankruptcy, they do not have to give up all their property and assets. The U.S. Bankruptcy Code contains a series of exemptions for different types of property that a debtor can keep when they file for bankruptcy. See 11 U.S.C. § 522. The property covered by these exemptions are referred […]

Can I Keep a Credit Card When Filing for Bankruptcy?

Keeping a Credit Card

When someone is struggling with credit card debt or personal loans, one of their best options is to seek advice from an experienced bankruptcy attorney. Bankruptcy can provide debtors with an opportunity to eliminate their debt, get a fresh financial start and still allow them to rebuild their credit. One of the most frequently asked […]

Small Business Debt in Personal Bankruptcy

Small Business Debt

Running a small business can be extremely challenging, especially when there is economic turmoil. According to the U.S. Small Business Administration, approximately 50 percent of U.S. small businesses fail within their first five years. This can be due to insufficient capital, poor credit arrangements, or having an unmanageable amount of debt. Just like individual debtors, […]

Holiday Debt Resolutions

Holiday Debt

Credit Cards Trends This Holiday Season The holiday season has now passed, and during the holidays many people tend to overspend and use credit to pay for both gifts for friends and family as well as for food and drink for holiday gatherings. We want to share some recent trends in holiday credit use as […]

Can Chapter 13 Bankruptcy Save My Home from Foreclosure?

chapter 13 bankruptcy plan

Increased Foreclosure Filings With foreclosures on the rise, many homeowners are wondering what their options are. Getting served foreclosure papers can be a terrifying experience. While there has been some good economic news of late, and we are not in a recession due to post-COVID inflation, the prices for all sorts of necessities are still […]

What Should I Do If I Receive Foreclosure Papers in New York?

What Should I Do If I Receive Foreclosure Papers in New York

With increased inflation and rising home ownership costs, more and more homeowners have been falling behind on their mortgage payments this past year. Nationwide, foreclosures increased approximately 35% in the third quarter of 2023. This is evidence of the economic hardship that homeowners have been experiencing post-pandemic. In the borough of Brooklyn alone, foreclosures almost […]

Are Student Loans Dischargeable in Bankruptcy?

Are Student Loans Dischargeable in Bankruptcy?

Student Loans are Presumed to be Non-Dischargeable in Bankruptcy According to, over 43 million student loan borrowers now owe more than $1.77 trillion in student loan debt. Unfortunately for debtors struggling with student loans, § 523(a)(8) of the U.S. Bankruptcy Code makes federal and private student loans, or loans made for an “educational benefit,” […]

What is the Automatic Stay in Bankruptcy?

Automatic Stay in Bankruptcy

An Introduction to the Automatic Stay The automatic stay is one of the most important protections provided to a debtor by the Bankruptcy Code. It is provided for in section 362 of the Bankruptcy Code and is triggered immediately upon the filing of a bankruptcy petition. It automatically prohibits most acts and proceedings against the […]

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