bigstock Covid Coronavirus In Usa

Last month, the New York unemployment rate went up to 14.5%, taking it to its highest level since the Great Depression. According to the New York State Department of Labor (DOL), it was the biggest monthly drop in employment numbers on record. Nationally, the April unemployment rate was 14.7% (compared to 4.1% in March), mostly…

Read More
bigstock Conceptual About Property Debt

A third quarter report from the Federal Reserve Bank of New York’s Center for Microeconomic Data found that in the third quarter of last year, overall household debt jumped 0.7% to $13.95 trillion. Nominally speaking, this total exceeds the previous peak of $12.68 trillion, which was reported in the third quarter of 2008. The report…

Read More
bigstock Red Grunge Rubber Stamp Print

One of the many reasons why people hesitate to file for bankruptcy is that they worry about their life being impacted. While it’s true that you may encounter difficulties with renting an apartment, getting a car loan at a decent interest rate, and other undertakings that require a decent credit score, there are laws that…

Read More
bigstock Eviction Notice Letter On Fron

If you are struggling financially, then you may fall behind in your rent payments. With New York rents being so high, it is not unusual for a distressed consumer to go into arrears simply to put food on the table. This means that you will eventually receive a notice of eviction from your landlord.  For many filers,…

Read More
bigstock Overdue Bills With Scissors An

When you start your own business, you’re excited about the future possibilities. Ideally, it will be a success that allows you to support your family and even your future generations. Unfortunately, not every small business meets with success. Debt such as commercial leases, supplier contracts, and business loans can exceed income until bankruptcy is the…

Read More
bigstock

Many New York residents who are contemplating bankruptcy worry that their friends, family, and employer will find out, causing them to lose respect and even their job. The bad news is that your bankruptcy filing is a public record, meaning that anyone can look it up—provided they know about it in the first place. In…

Read More
bigstock New Year s Resolutions

For many of us, creating and sticking to a budget is a top New Year’s resolution. Mastering the ability to live within your means is especially important if you are in the middle of a Chapter 7 bankruptcy or planning to file, because successful planning can help ensure greater financial success in the future. Here…

Read More
bigstock Meeting Icon

If you are married and considering Chapter 7 bankruptcy as a debt crisis solution, then you and your spouse will have to discuss whether you want to file a joint petition, file your own separate cases, or have one of you file alone. There is no right answer that applies to all couples equally—it all…

Read More
bigstock

Chapter 7 is often referred to as the “liquidation bankruptcy” because it wipes out most, if not all, of your unsecured debts. This fact, combined with the relatively short duration of a typical filing, motivates a lot of people to use Chapter 7 to get a fresh financial start. There is a potential downside, however.…

Read More

When people consider filing for bankruptcy in New York, one recurring question is, “Will I ever get credit again? Be able to buy a house? Get a car lease on favorable terms?” The universal assumption seems to be that after you file, you lose any chance of being able to benefit from the advantages that…

Read More
bigstock Old apartment building with fi

If you rent an apartment in New York and intend to file for bankruptcy, you may wonder how the decision will affect your lease. The answer is: it depends. If you have a standard lease and have been paying your rent on time as of the date you file, there will be no negative repercussions.…

Read More
bigstock Apartment Buildings

When someone files bankruptcy, a bankruptcy estate is created for that person. Inside that estate are assets and liabilities. If someone has a savings account, for example, then that is an asset in the estate. If someone has credit card, then that is part of his or her bankruptcy estate. A bankruptcy trustee may, in…

Read More
bigstock Cutting Debt

We are offering 10% off legal fees for customers starting a bankruptcy between December 15, 2014 and January 31, 2015. A personal bankruptcy can eliminate many of your debts allowing you to get a fresh financial slate. Call 718-514-6619 to learn more and set up a free in-person consultation with attorney Jayson Lutzky who has…

Read More
bigstock Paper and pulp mill Factory

The Great Northern Paper Co. has filed for Chapter 7 bankruptcy in court in Delaware. This business, which is approximately 100 years old, used to produce paper for books, newspapers and other uses. They recently stopped operations at their last plant in Maine, according to the Portland Press Herald on September 29, 2014 and the…

Read More
bigstock Boom Box

Retailer Radio Shack may be near bankruptcy according to one of its regulatory filings that hinted at such action. The store sells electronics parts such as cables and batteries as well as the electronics like phones, cameras and, of course, radios themselves. There has been evidence that the business has been trying to change in…

Read More
bigstock Professional Condenser Studio

Rihanna filed for bankruptcy about five years ago, in 2009, because her accountants were unable to keep detail logs of her money or failed to inform her that she was heading downhill financially, as reported by AOL in a February 12, 2014 article. The well-known singer claims that “their poor advice saw her fortune fall…

Read More
bigstock Crowd

Deciding to file for bankruptcy is a hard choice or decision that one has to make. Filing for bankruptcy might mean giving up one’s home and car, and relocating to another neighborhood, as reported by The Week in a January 29, 2014 article. Moreover, when one has a family and has to tell his or…

Read More