Stop The Enforcement Of A Judgment Through Bankruptcy
In this blog, we will examine how filing a Bankruptcy petition can stop the enforcement of a court judgment. Once a creditor sues you and obtains a judgment against you there are two main ways they can enforce it: wage garnishment or by restraining a bank account. According to New York’s Civil Practice Law & […]
Enticing Promotional Credit Card Offers And Bankruptcy
Introductory 0% APR Interest: New Purchases & Balance Transfers In a rush to attract new customers, many credit cards companies offer 0% APR incentives for limited introductory periods. Some cards offer the introductory 0% APR only on either purchases or balance transfers, but not both. A few cards offer an intro 0% APR on both. […]
What Is The Difference Between Debt Settlement, Debt Consolidation and Credit Counseling?
When struggling with debt, consumers often do not know what their best options are. There are three different services that some of our clients frequently consider before filing for bankruptcy: Debt Settlement, Debt Consolidation and Credit Counseling. These terms are sometimes used interchangeably but they are indeed different and have very different costs, effects and […]
What Is Worse For Your Credit, Bankruptcy or Debt Settlement?
Many people wonder what their options are when they are struggling to pay their bills? Financial hardship can stem from various factors that ultimately result consumers finding that their debts have spiraled out of control. A few examples of such hardships may include: the loss of a job, a reduction in the availability of overtime, […]
Managing Debt After The Holidays (Holiday Debt)
The temptation to overspend during the holidays can be strong. Promotional credit card offers with 0% APR financing and other holiday sales and promotions can make that temptation even stronger. Holiday spending is increasingly taking place using credit, debit and prepaid cards. According to The Nilson Report, over the last year, consumers have increased their […]
Changes To The Loss Mitigation Program In The Eastern District Of New York
When a New York homeowner is struggling financially and facing foreclosure, they have a few options if they are seeking to retain their home. They can fight the foreclosure lawsuit in state court. They can try to obtain a loan modification in the Foreclosure Settlement Part of the Supreme Court under the supervision of a […]
Will My Spouse Be Affected By My Bankruptcy Filing?
Many married debtors, who are thinking about filing for bankruptcy individually, often ask if the bankruptcy filing will affect their spouse. It is common for a married debtor to pursue a bankruptcy filing individually, by him or herself. If a married debtor files for bankruptcy individually, the question of whether their spouse will be affected […]
How Does Social Security Income Impact A Bankruptcy Case?
When facing financial difficulty, Chapter 7 and Chapter 13 bankruptcy are the two main bankruptcy options to help consumers struggling with debt. Both allow a consumer to discharge their debts, get protection from creditors and receive a fresh start. In a Chapter 7 bankruptcy case, a debtor’s dischargeable debts are eliminated in a relatively quick […]
HAVEN Act Extends Means Test Exemption to Disabled Veterans And Their Families
On Aug. 23, 2019, the Honoring American Veterans in Extreme Need Act of 2019 (HAVEN Act) was signed into law. The HAVEN Act amends the Bankruptcy Code to exclude many benefits paid by the U.S. Department of Veterans Affairs (VA) and the U.S. Department of Defense (DoD) to disabled veterans and their families from the […]
Can I Withdraw My Chapter 7 Bankruptcy Case? (Voluntary Dismissal of Chapter 7)
Filing for Bankruptcy is a big decision but once a debtor files their bankruptcy case, it cannot be voluntarily withdrawn without Court permission. There are a number of factors that the Bankruptcy Court must evaluate before a debtor is permitted to voluntarily dismiss a Chapter 7 Bankruptcy case. Generally, a debtor can only withdraw their […]