Credit Reports: How to Get (Good) Copies Whether you’re filing for bankruptcy or trying to repair credit, it is often necessary to get copies of your report from the three major credit reporting agencies. There are many ways to get credit reports, but it is important to get good copies. Some clients know exactly who
Common Reasons New Yorkers File Bankruptcy
There are many misconceptions as to why people in a place like NYC file for bankruptcy. A common misconception is that those who end up in bankruptcy are irresponsible with money. However, usually the opposite is true and bankruptcy becomes necessary because of the occurrence of an event which the debtor had no control over,
Establishing Credit After Bankruptcy in NYC
One of the questions I am most often asked by clients is how to establish credit after filing for bankruptcy. There are several ways, but the most important thing is to remember is how credit cards may have led you into bankruptcy in the first place. Secured Credit Cards The simplest way to re-establish credit
Where Are the NYC Bankruptcy Courts Located?
Five Different Court Locations For NYC Bankruptcy Filers When you file for bankruptcy in the New York City area, your case will be located in one of five different courthouses depending on where you live. There are four federal court districts in the State of New York, and parts of New York City are in
Will I Lose My Retirement in a New York Bankruptcy?
What Happens to My Retirement in a NY Bankruptcy? An exemption is something you are allowed to keep even though you file for bankruptcy. The theory behind bankruptcy is that you can get debt relief without losing everything you own. In New York, in almost all cases, the debtor is able to retain everything he
Wage Garnishment in New York: Can Bankruptcy Make it Stop?
Wage garnishment, or as it is also known, income execution, is a process by which money is deducted from an employee’s paycheck to pay a debt. A wage garnishment can only come after the creditor receives a judgment from a court, and then is limited to 10 percent of the employee’s gross wages. Before a
New York Bankruptcy Exemptions: Will I Lose My Car in Chapter 7?
Exemptions are things you get to keep even though you file for bankruptcy. In New York, one of the things you may keep through bankruptcy is a car as long as its value is not above the amount of the exemption. Federal or New York State Bankruptcy Exemptions? There are two exemption lists – the
New York Homestead Exemption: Can Creditors Take My Home?
When a debtor files for bankruptcy or is being pursued by a judgment creditor, there are certain items of property that the debtor is allowed to keep even though he or she owes money. One of the exemptions is for an interest in the debtor’s home, and is called the homestead exemption. The homestead exemption
NYC Bankruptcy Court Adventures
The Truth is Your Best Friend in Bankruptcy Court, But You Don’t Need to Tell Your Life Story When appearing in Bankruptcy Court, one always should tell nothing but the truth. Even a small misstatement can get you into a large amount of trouble. And while it is only truth that should be told, there
Famous People Who Have Filed For Bankruptcy
Bankruptcy Filers You May Know Some of my bankruptcy clients in Queens come to my office with the wrong impression. They think filing for bankruptcy is a sign of failure. To the contrary, bankruptcy is often a shrewd financial move that many famous people have used to get a fresh a start. Consider the owners