Student Loans Under the Bankruptcy Code
It is frequently stated that you cannot discharge students loans by filing for bankruptcy. While that is generally true, it is not always the case. The frequently cited case of Brunner v. New York State Higher Education Services Corporation, 831 F.2d 395 (2d Cir. 1987) does hold that a bankruptcy filing can discharge […]
Filing for Bankruptcy? A Word of Caution
If you know you will be filing for bankruptcy, here is a word of caution about making charges on your credit cards. Assume that you have been injured and have not been able to work for almost a year. Recently, you received some good news when you learned that your employers or your insurance company […]
Bankruptcy Alternatives: Bankruptcy Is Not the Only Option
When finances get tough and the creditor is at your door, you may be tempted to think that bankruptcy is your only option. But this is not always true, there are bankruptcy alternatives. Our human nature compels us to circle the wagon, so to speak. We are tempted to pretend to the outside world that […]
Your Personal Bankruptcy Advocate
Have you ever really thought about the word advocate? It is actually a verb – an action word – and a noun or a person/place/thing. Advocate – The Person An advocate is someone who is in your corner, a voice on your behalf when you don’t have the words to speak. An advocate is someone […]
When is it Time to File Bankruptcy?
The creditors are calling, the past due notices clutter your mail box and the financial stress has put undue pressure on your family relationships. Is it time to file bankruptcy? Before you start the proceedings, first examine the answers to a few simple questions: Does the bulk of your financial burden consist of student loans? […]
Life After Bankruptcy – What Happens After You File?
If you’re currently thinking about filing for bankruptcy, you are probably feeling apprehensive and worried about what will happen once you file. It might seem scary, but bankruptcy has given countless people the chance to rebuild their credit and their lives! You, too, may find that you will also be able to rebound and get […]
5 Ways You Can Explain Bankruptcy to Your Children
Children notice more than we may think. They take note when you grimace while getting the mail, when you turn down their special requests at the grocery store, and when the holidays look a little less festive. While they may not understand why things are changing, they will most certainly notice the changes to your stress level […]
Don’t Let Your Finances Worry You Another Day – Call Us!
Many people who are in financial trouble seek legal advice with the greatest of reluctance. In most cases, they do not see themselves as people who ever have had to file for bankruptcy. In our experience, the vast majority of people that do file experienced an unforeseen event like a major injury or sickness, or […]
Four More Retail Stores File for Chapter 11 Bankruptcy
The world of retail is in a bit of trouble and several retailers are facing Chapter 11. As online shopping has increased over the years, foot traffic within American malls has been on a decline, and it isn’t showing signs of stopping. Many retailers are feeling the pressure of increased rent costs while online competitors […]
Chapter 12: The Newest Bankruptcy Law
In 1986, Congress enacted Chapter 12 of the Bankruptcy Code. Chapter 12 bankruptcies are exclusively for family farmers and fishermen to restructure their finances and avoid liquidation or foreclosure. Originally, Chapter 12 was passed to address the financial difficulties that farmers encountered in the 1980s. Congress made Chapter 12 permanent in 2005. Chapter 12 bankruptcies […]