Should I Reaffirm My Debt in Bankruptcy?

What is debt reaffirmation? In almost all cases where the debtor has a car loan or a mortgage, the creditor asks that the debt be reaffirmed.  Except in rare instances, we strongly recommend against reaffirming any debt. Reaffirming a debt is promising all over again to pay the debt even though it is discharged in 

Bankruptcy and Property Exemptions in NYC

The common question that people ask when they’re filing for a bankruptcy is what they will be allowed to keep. Attorney Allan Bloomfield speaks about main assets that are being protected in bankruptcy. One of the questions I am often asked when people are about to file bankruptcy is what they will be allowed to 

How to File for Bankruptcy in NYC

How to File for BankruptcyWhen people first call our office, they often ask, how do I file for bankruptcy? While there is a lot involved in filing for bankruptcy, the simplified answer is that they should come in for an initial consultation, at which time we will talk to them about their situation to make 

What Can Happen If You Don’t File Bankruptcy

What Will Happen If I Don’t File For Bankruptcy? This may seem like a strange question, “What will happen if I don’t file for bankruptcy?”, but this post is aimed at those who are considering bankruptcy, may have had an interview or two with a lawyer, and then put it off. When You Can’t Pay 

Will Delaying My Bankruptcy Filing Help Me Keep My NY State Tax Refund?

How NYC Bankruptcy can affect my tax return? The calendar is entering the last three months of the year when the leaves fall and the days get shorter and nights get longer and cooler.  And as we know that daylight savings time ends soon, we also know that bankruptcy trustees are going to be looking 

Where are the Bankruptcy Courts in NYC?

Where Exactly Is My Bankruptcy Filed in New York? It often surprises people who file for bankruptcy in New York to learn where exactly their case is filed.  Many know where the courts are located, having passed courthouses as they drive around their neighborhoods, and they assume that is where their bankruptcy case is filed. 

Will I Still Have to Pay Rent After Bankruptcy?

Rent and Rent Controlled Apartments in Bankruptcy Two questions debtors often ask when they file for bankruptcy are whether they will have to pay their rent once they file for bankruptcy and whether they might lose their rent-controlled apartment if they file. The obligation to pay rent for an apartment has two facets, much like 

What Property Can I Buy Before Filing Bankruptcy?

Can I Buy Things Before I File For Bankruptcy? Some clients wonder, if they are about to file for bankruptcy, why not use the credit that is left on their cards?  The answer is that using credit cards shortly before filing for bankruptcy is a recipe for difficulty .  There are several problems that could 

Pensions, New Jobs, and Landlords in Bankruptcy Cases

Pensions, New Jobs, and Landlords in Bankruptcy Cases Questions that often are asked as clients consider filling for bankruptcy are whether they will be able to keep their pension benefits and whether they will have trouble getting new jobs after filing .  The answers are generally positive in these areas for people who do decide 

How is the Homestead Exemption Different in NYC Than The Rest of NY?

Homestead Exemption in NYC When people file for bankruptcy what they often worry about is what they will be allowed to keep and what they will lose.  What you are allowed to keep depends on exemptions, which are items of property that the debtor is able to keep despite filing for bankruptcy. Each state can