Last week's blog post discussed a topic that concerns many people when they find themselves facing financial chaos - the potential loss of a treasured personal item during the bankruptcy process. As discussed, in many cases a New York resident can protect certain...
Month: September 2015
Is a wedding ring exempt from liquidation during bankruptcy?
Certain items of personal property hold special value to their owners. Under Chapter 7 bankruptcy, a person may be required to sell off or liquidate items of property in order to secure sufficient funds to settle debts with creditors. The process of liquidation can...
Chapter 13 bankruptcy can help with high credit card debt
Chapter 13 bankruptcy allows a New York consumer to reorganize his debts into payments that he can responsibly manage. The payments that a person makes toward his outstanding sums in Chapter 13 bankruptcy are only made out of his disposable income, which means that...
Student loans debts can impose serious financial challenges
At present, many young adults in New York and the rest of the country are struggling to get ahead of one particular form of debt: student loans and other education-related financial obligations. Many students graduate from college with tens of thousands of dollars in...
