Bankruptcy is the process through which debtors can reorganize their debt to creditors. Depending on the circumstances, bankruptcy can result in a plan for making payments to creditors or a complete discharge of debt. Although there are many reasons why debtors file...
Eliminate Your Debt - Free Consultation
Eliminate Your Debt - Free Consultation
Qualifying for a mortgage after a Chapter 7 bankruptcy
For many of those people in New York that are struggling with debt, the freedom from collection activities from creditors that bankruptcy offers is a welcome relief. A Chapter 7 bankruptcy is often a popular option seeking bankruptcy protection. Indeed, per the...
Will I lose my retirement money in Chapter 7 bankruptcy?
Filing for Chapter 7 bankruptcy might be your best chance to free yourself from burdensome debt. However, you may fear that the liquidation process will deprive you of your retirement money. While this fear is understandable, the truth is that bankruptcy liquidation...
What is the Chapter 7 timeline?
When you file bankruptcy, it may feel like you do a lot in the beginning and then sit around waiting for a long time before anything else happens. What you may not realize is all the work going on behind the scenes. According to the U.S. Courts, during your...
Does Chapter 7 discharge all your debts?
If you think that Chapter 7 bankruptcy discharges all of your debts, think again. FindLaw explains that while it is true that Chapter 7 will discharge virtually all of your consumer debt, including your credit card debts, it will not discharge some other types of...
Breaking down the Chapter 7 means test
No one in Long Island is immune to the potential of financial struggles. Such struggles often result in mounting debt, which can make it more and more difficult for one to re-establish themselves on a firm financial footing. A Chapter 7 bankruptcy might afford one the...
Know when to consider Chapter 7 bankruptcy
When you are having financial problems in New York, you may sometimes think that putting more money toward your debt is the only solution. Sometimes, though, this solution may not fix your current situation and you may need a more serious plan of action. At Macco and...
What is the bankruptcy means test?
New York residents like you who are having financial struggles may need help digging yourself back out. This is where filing for bankruptcy can come into play. Today we'll take a look at the bankruptcy means test and how it relates to your ability to file for...
Credit cards after bankruptcy
When you file for Chapter 7 bankruptcy in New York, you may think you will not be able to have a credit card again. We at Macco and Stern, LLP, know it is important for you to understand your credit options after bankruptcy. Most of the time, filing for bankruptcy...
Why are people still ashamed of filing for bankruptcy?
You have been struggling with your finances for some time now, but the main thing holding you back from filing for Chapter 7 bankruptcy is the stigma you believe is attached to those who go bankrupt. The thought of filing for bankruptcy may raise your anxiety level,...
