Chapter 7 vs. Chapter 13: Which Bankruptcy Option Is Better for Your Financial Situation?
Chapter 7 and Chapter 13 bankruptcy offer different ways to deal with debt, and the better option depends on your income, assets, and financial priorities. Chapter 7 focuses on eliminating qualifying debts in a relatively short time, while Chapter 13 uses a court-approved repayment plan to help you catch up gradually. When...
Chapter 7 vs. Chapter 13: Which Bankruptcy Option Is Better for Your Financial Situation? Continue reading…How Much Does It Cost to File Bankruptcy in New York in 2026?
Filing for bankruptcy in New York in 2026 usually costs between $400 and $4,000, depending on whether you file under Chapter 7 or Chapter 13 and whether you work with an attorney. That total comes from court filing fees, required credit counseling courses, and legal fees, which vary based on your income,...
How Much Does It Cost to File Bankruptcy in New York in 2026? Continue reading…How to Rebuild Your Financial Life in Long Island, NY After Bankruptcy
Bankruptcy can feel overwhelming, leaving many in Long Island wondering how to rebuild their financial lives. While the road to recovery may seem daunting, the right steps can help you regain control and achieve lasting stability. Here's a guide tailored to residents of Long Island on how to bounce back after bankruptcy.
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Bankruptcy and Credit Scores: What to Expect and How to Rebuild
Understanding Bankruptcy and Its Impact on Credit Scores Types of Bankruptcy: Chapter 7 vs. Chapter 13 When it comes to bankruptcy, understanding the differences between Chapter 7 and Chapter 13 is crucial. Chapter 7 bankruptcy, often referred to as "liquidation bankruptcy," involves the...
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The Bankruptcy Filing Process: What to Expect from Start to Finish
Understanding Bankruptcy Basics Types of Bankruptcy: Chapter 7 vs. Chapter 13 When considering bankruptcy, it's crucial to understand the differences between Chapter 7 and Chapter 13 bankruptcy. Chapter 7, often referred to as "liquidation bankruptcy," involves the sale of a debtor's non-exempt assets...
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The Truth About How Bankruptcy Affects Your Credit Score
There are a lot of misconceptions regarding the impact bankruptcy may have on one’s credit score, which is why so many are often hesitant to opt for this choice. However, filing for bankruptcy is not the end of the world. Instead, it is an effective way for those who are struggling with...
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Does Mounting Medical Debt Have You Considering Bankruptcy?
When a medical emergency strikes, your health and safety is the top priority—as it should be. Unfortunately, cost of treatment can range wildly depending on the condition and can quickly pile up—especially if your medical issue has also led to a loss of income or a drop in usable credit. If medical...
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6 Reasons Why You Shouldn’t Wait to File Bankruptcy
In the wake of COVID-19, individuals, families, and businesses across the United States are struggling to make ends meet. After mass layoffs, forced closures of stores and restaurants, stay-at-home orders, and, of course, staggering medical expenses, millions of people are leaning on state and federal assistance simply to pay the bills and...
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CARES Act Makes Pivotal Adjustments to Bankruptcy Code
Financial Support for Businesses and Individuals During COVID-19 Local, state, and federal governments are scrambling to provide financial support to individuals and businesses amidst the COVID-19 pandemic. The most notable legislation is the Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law by...
CARES Act Makes Pivotal Adjustments to Bankruptcy Code Continue reading…NY Bankruptcy Judge’s Ruling Could Help People Get Rid of Student Loans
A lawyer managed to get own his massive, years-old student debt thrown out in New York bankruptcy court this week, after he was able to prove the burden was so huge he could never afford to pay it. The ruling potentially has huge implications for others suffering under crushing...
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Using Secured Credit Cards to Rebuild Your Credit Following a Bankruptcy
How Do Secured Credit Cards Work? The New York Times recently wrote about the value of secured credit cards for those with poor credit. A secured credit card requires a cash deposit to “secure” the line of credit and allows users to make purchases up to...
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Should I Declare Bankruptcy if I Can’t Pay My Student Loans?
Knowing what your options are when filing for student loan discharge is important. Discover your options when your student loans are becoming too much to handle. Declaring Bankruptcy If You Can’t Pay Your Student Loans Generally speaking, student loans cannot be discharged in bankruptcy, but...
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