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Filing for Bankruptcy

Recent Posts in Filing for Bankruptcy Category

  • Will Filing for Bankruptcy Ruin My Credit Score?

    || 30-Apr-2014

    It is quite common for people to wonder about the effect bankruptcy will have on their credit score. Filing for bankruptcy is not a decision that should be made lightly. The magnitude of the impact will depend on the state of your credit prior to you filing for bankruptcy. If you have a lot of delinquent accounts, you have only been making minimum payments or less, and you have become unable to ...
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  • Does Bankruptcy Impose a Stigma?

    || 12-Sep-2011

    Bankruptcy should be viewed as a legal right where people undergoing financial stress have an outlet to fix their problems. Businesses utilize bankruptcy to better their position and end up being even more profitable. Bankruptcy is a tool and if you can benefit from it, you should utilize it. At least you should know your options. What I tell clients is that the government gave billions of dollars ...
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  • The Honest Debtor Gets the Discharge

    || 4-Apr-2011

    Every bankruptcy requires a meeting with the trustee for the mandatory examination commonly known as the 341 meeting. For most clients this meeting is very short and the questions and answers are fairly mundane. Some clients however have more complicated situations and the goal of our office is to prepare the petition with as much helpful disclosure as possible in order to avoid lengthy ...
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  • Where Do I File for Bankruptcy?

    || 21-Dec-2010

    Most clients do not think about where they will be filing when they consider bankruptcy, however, it is important to hire an attorney who is familiar with the various jurisdictions and trustees who work in them. In the greater New York City area we have two Federal District Court divisions which consist of the Southern District of New York (SDNY) and the Eastern District of New York (EDNY). The ...
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  • What is a 341 Meeting and What Am I Asked?

    || 16-Dec-2010

    Most of my clients are very intimidated by the prospect of being "examined" by a trustee. When I tell them it will be a five minute meeting and that there is no reason to be nervous, they do not believe me until after it is over. I prepare my clients for the 341 meeting throughout the process of filing for bankruptcy. When we initially meet I outline the entire bankruptcy process. When ...
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  • Bankruptcy Filings Are Up

    || 30-Nov-2010

    Bankruptcy cases filed in federal courts for fiscal year 2010, the 12-month period ending September 30, totaled 1,596,355. This represents a 13.8 percent increase over the fiscal year 2009 bankruptcy filings of 1,402,816, according to statistics released [November 8, 2010 ]by the Administrative Office of the U.S. Courts." What accounts for this increase in bankruptcies? It is certainly apparent to ...
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  • Bankruptcy - Your Legal Right!

    || 16-Sep-2010

    Many people who come to me for a bankruptcy consultation are embarrassed about their financial situation. Some tell me that until now they have never missed a payment of their bills. However, they are at a point where they cannot pay their bills as they come due and are experiencing non-productive time worrying and sleepless nights. After quantifying a client's priorities, it is generally ...
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