Blog Posts in 2012

  • Ok, so you've decided you need to file for bankruptcy and you're hoping this decision is going to lead to you becoming debt free and able to breathe easy again. The effect of a discharge certainly sounds good. However, what happens in between beginning the process and getting to the final result of obtaining a discharge is a gray area for many people who come to see me. So, I'm going ...
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  • JUDGMENTS- HOW THEY AFFECT YOU AND HOW BANKRUPTCY CAN HELP

    || 12-Sep-2012

    Many individuals come into my office concerned about the fact that they have received a notice from their Sheriff's office or a law firm that a judgment has been entered against them. Often times, this is the first time they have really been made aware of a lawsuit that has been filed against them. Unfortunately, by the time a judgment is issued, the lawsuit has reached its conclusion and the ...
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  • MY BANK ACCOUNT HAS BEEN FROZEN- WHAT DOES THIS MEAN?

    || 11-Sep-2012

    The most common reason individuals in New York experience a restraint on their bank account is because a creditor has obtained a judgment against them and is enforcing it against their bank account. What does this mean in plain English? It means that you have been sued and lost and as a result the court entered a judgment against you for the amount claimed to be due to the creditor. Now, that ...
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  • WHY SHOULD I CONSIDER A CHAPTER 13 BANKRUPTCY?

    || 10-Sep-2012

    A lot of persons who come into my office feel overwhelmed by their debt and cannot imagine trying to do the type of bankruptcy, known as Chapter 13, where they have to make a monthly payment to their creditors. The question that always comes up is, why would I want to file for Chapter 13 over Chapter 7? Strip That Second Mortgage Believe it or not, there are often many benefits to filing for ...
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  • CAN I FILE BANKRUPTCY IF I FILED BEFORE?

    || 10-Sep-2012

    It is possible to file for bankruptcy more than once. Often times, although a person may never plan to file more than once, a person is faced with circumstances where they want to consider filing for bankruptcy again. If you are unsure of whether you qualify for a second bankruptcy discharge, consider the following information. I Would Like to Discharge My Debts But I Filed For Bankruptcy Before- ...
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  • One of the great advantages of a Chapter 13 for homeowners who have lost equity in their homes is that a Chapter 13 bankruptcy permits homeowners to strip the second mortgage off their home where that second mortgage or lien is completely unsecured. In many Chapter 13 Plans, the second mortgage creditor is ultimately paid a small percentage of what it is owed for that debt. The most common reason ...
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  • Did you know that your income taxes for prior tax years could be dischargeable? Many clients are relieved to learn that this is possible and often times the IRS or state taxing authority will be willing to concede dischargeability of certain tax debt in your case. However, whether or not your taxes are dischargeable could also depend on whether you filed your taxes too late or failed to file them ...
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  • Non-Attorney Bankruptcy Petition Preparers- Why Take The Risk?

    || 20-May-2012

    Have you ever considered hiring a bankruptcy "petition preparer" instead of a bankruptcy attorney? Bankruptcy petition preparation services abound, however, there is a vast difference between hiring an attorney and using one of these services and the difference could jeopardize your chances of getting a discharge of your debts. Bankruptcy is not a matter that should be taken lightly and ...
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