Currently, debt collectors in New York and throughout the country are forbidden from contacting debtors by email or through text messages. However, the Consumer Financial Protection Bureau, or CFPB, issued a rule that will allow them to do so starting sometime in...
Eliminate Your Debt - Free Consultation
Eliminate Your Debt - Free Consultation
Why should you not increase debt just before bankruptcy?
You have been struggling with debt, and you believe bankruptcy might be the answer to your problems. If you are considering filing for bankruptcy, refraining from racking up any additional debt may be a sound move. You want to do all you can to give your bankruptcy...
Filing for bankruptcy when married
There is perhaps no more dreaded word in the world of finance than bankruptcy. Many people in New York view it as the end of their financial dreams and a death blow to their goals of homeownership, retirement and other goals that they have set for themselves. While...
Understanding the bankruptcy homestead exemption
A common misconception about bankruptcy is that it offers some sort of escape. In reality, it is a sacrifice whose decision many people in Long Island agonize for long hours over. Those who seek personal bankruptcy protection do so understanding that they will likely...
Reasons older people file bankruptcy
When you reach your golden years, you probably expect that you will be financially stable and able to enjoy a nice retirement. Unfortunately, for many people, that is a reality they will never see. Instead, they find themselves in a bad financial place that requires...
What assets can a person keep under chapter 13 bankruptcy?
Under chapter 13 bankruptcy, New Yorkers with regular income can develop a plan for repaying their debts. Depending on how much money you earn, the bankruptcy period may last three to five years. During the bankruptcy period, creditors cannot start or continue...
Debunking common myths about bankruptcy and credit
You may find your debt level in Long Island, New York, to be unmanageable, yet you may be reluctant to file for bankruptcy because of the damage it could do to your credit. At Macco Law Group, we understand your concern. As MarketWatch observes, filing for bankruptcy...
The emotional toll debt takes
New Yorkers, like most Americans, work to afford a certain quality of life. However, there are times when this the money does not materialize as quickly as it gets spent. When underwater with credit card companies, the stress it brings may seem unbearable. Collection...
Bankruptcy and the boomer generation
If you are like most people in New York who is nearing, at or even after the average age of retirement, you may have looked forward to this time in your life expecting that you would have the appropriate level of savings on which to retire comfortably. Between...
What are the benefits of bankruptcy?
You often hear about the downsides of filing for bankruptcy in New York, but this process can be anything but negative. In fact, filing bankruptcy has many benefits that often can really save your finances and help you to get back on track. There is simply nothing...
