Facing overwhelming debt can take over every aspect of an individual's life. The stress of constant calls from creditors, threats of repossession, the possibility of foreclosure, and simply being unable to meet one's monthly living expenses may make debtors in Long...
Eliminate Your Debt - Free Consultation
Eliminate Your Debt - Free Consultation
What happens during Chapter 7 credit counseling?
In a post a couple of months ago we discussed how Long Island area debtors who want to file for bankruptcy must complete a credit counseling course prior to filing, and must complete a debtor education course before their debts will be discharged. This week we will go...
What is the relationship between tax debt and Chapter 7?
Last week this blog discussed the extremely narrow circumstances in which a debtor in Long Island could seek to have his or her student loans discharged through bankruptcy. Today we are going to look at tax debt. Can tax debt ever be discharged through Chapter 7...
What is a bankruptcy discharge?
Residents throughout New York may be struggling with a variety of financial challenges. These challenges can lead individuals to the bankruptcy court. A bankruptcy can provide individuals with much-needed debt relief. Specifically, a Chapter 7 bankruptcy can allow...
Long Island juice chain revived after filing for Chapter 7
Many Long Island residents were saddened by the news last fall that the Organic Avenue chain of juice shops was apparently going out of business. The widely-recognized brand had been in business for 15 years. Recently, competition from restaurants, juice bars in gyms...
Macco & Stern attorneys can guide clients through bankruptcy
Significant debt can consume anyone, even those with historically solid financial footing. All it takes is one unexpected event - such as a lengthy medical stay, termination from employment or a substantial home or automobile repair - to put an individual in Long...
The trustee and liquidation to unsecured creditors in Chapter 7
When financial challenges make it necessary to consider filing for bankruptcy in New York, the first step is to find out which option is best. Once that is done and a decision is made to move forward with a Chapter 7 bankruptcy, the first hurdle is taken care of. It...
What is the means test for qualifying for Chapter 7?
Long Island residents who are facing significant financial hardships have many options available to obtain debt relief. Among these alternatives is filing for bankruptcy. One of the most common forms of bankruptcy chosen by debtors is Chapter 7. Many debtors may...
Advice is available regarding Chapter 7 bankruptcy
Long Island residents dealing with significant debt can often feel like there are no options to help them get out of their situation. Many forms of debt relief may be available to them, but selecting the best alternative can be difficult. One form of debt relief that...
Advantages and disadvantages of filing for Chapter 7 bankruptcy
Residents of Long Island, New York, who are facing considerable debt, regardless of the source, may need to begin reviewing debt relief options. Although there are many options available, one of the most common options is bankruptcy. The decision to file for...