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Personal Bankruptcy Archives

What are the big differences between Chapter 13 and Chapter 7?

Most Garnerville and Rockland County residents who follow this blog probably know that Chapter 7 and Chapter 13 are types of personal bankruptcy but that they are different. While Chapter 13 bankruptcy and Chapter 7 differ in many ways, there are a couple which really stand out.

Prominent doctor's bankruptcy case has important lessons

A well-known New York doctor, whose patients have included the former governor of New York as well as noted television figures, recently filed for individual bankruptcy. The doctor states that while at one point he was a successful "anti-aging" doctor, he has fallen on hard times, in large part because of a heated and protracted divorce battle with his now ex-wife. He claims he owes $5 million in litigation and defense costs.

Helping you with the personal bankruptcy process

Dealing with debt isn't an easy reality for most New York residents to face. While financial problems can come and go throughout a person's life, some debt challenges cannot simply be ignored or not directly addressed. Thus, debtors frequently seek options to resolve their debt problems, and one of those solutions is personal bankruptcy.

New techniques for discharging student loan debt

Prior posts on this New York bankruptcy and debt relief legal blog have discussed the difficulties some individuals may face in attempting to discharge their student loans through personal bankruptcy. Under the bankruptcy code, a debtor generally must demonstrate that their student loans impose undue burdens upon them before those debts may be dischargeable; however, the bankruptcy code does not provide much guidance as to what constitutes an undue burden in these circumstances.

Understand your tax obligations in Chapter 7 bankruptcy

Last week this Rockland bankruptcy and debt relief legal blog introduced the topic of the means test under Chapter 7 bankruptcy. This week it will explore a question many individuals have when they are considering whether bankruptcy will serve them: Will filing help me eliminate my owed back income taxes?

Is my income subject to the Chapter 7 bankruptcy means test?

Many Rockland residents would be eligible for some form of personal bankruptcy protection should they choose to pursue bankruptcy to achieve financial stability. However, not every individual will have the same bankruptcy options as others and those options that are available to them may depend on the value of their assets and the amount of their income. Particularly, a person who wishes to use Chapter 7 bankruptcy to alleviate their debt may see their income evaluated under a means test if it is greater than the median income of all New Yorkers.

Will holiday spending send you to consumer bankruptcy?

The holidays are a wonderful time for celebrating with family and sharing special moments with friends. Many holiday traditions include the giving of gifts, and, for some New Yorkers, it can be more fulfilling to give presents to others than it is to receive them. Some individuals may get so caught up in the process of buying presents for others that they lose track of just how much money they have actually spent.

Payday loans can be damaging for those with personal debts

There is nothing comfortable about living paycheck to paycheck. Individuals who face this reality may confront endless worry about how they will pay all of their bills and how they will handle emergency expenditures if they arise. Many New Yorkers face this constant concern, and in some cases, those individuals have to make difficult decisions about how to manage their money affairs.

Our firm can help you through your personal bankruptcy

The law offices of Ronald V. De Caprio are accepting new clients into their personal bankruptcy practice. Personal bankruptcy relates to bankruptcy filings pursued by individuals and may include the utilization of different bankruptcy processes. The firm supports individuals who live in Rockland, Garnerville, and the surrounding area.

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Law Office of Ronald V. De Caprio 65 West Ramapo Road Garnerville, NY 10923 Phone: 845-406-4201 Toll Free: 866-936-8113
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