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Law Office of Ronald V. De Caprio

Cancellation of Indebtedness Income and Insolvency

Most people in Rockland County are unlikely to be familiar with IRS Form 1099C or the term “cancellation of indebtedness income.” A Form 1099C is one of the many methods of reporting income that does not appear on a Form W-2 or a Form 1099MISC.
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Law Office of Ronald V. De Caprio

What Is Reaffirmation of Debt?

For many people in Rockland County, bankruptcy looks like an expert ski hill – once you start down, you have almost no way to stop. In the process, creditors will seize assets that provide security for a loan that will be discharged, and valuable assets, such as a car or a house, will be lost forever.
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Law Office of Ronald V. De Caprio

Scandal-Plagued Restaurant on Hudson Files for Bankruptcy

Many factors can force a business into bankruptcy. The most common reasons for a business to seek bankruptcy protection is too many debts and insufficient revenue. Shoddy business practices can also be an underlying cause.
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Law Office of Ronald V. De Caprio

Saving Your House in Bankruptcy

Many people in Rockland County view bankruptcy as, among other things, as a sure-fire way to lose their home to the bank that holds the mortgage.
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Law Office of Ronald V. De Caprio

What Happens in A Chapter 13 Bankruptcy?

A previous post here reviewed Chapter 7 bankruptcy, which usually results in the discharge of most of a debtor’s financial obligations, but does not necessarily protect a person’s home from foreclosure.
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Law Office of Ronald V. De Caprio

What Happens in A Chapter 7 Bankruptcy Case?

Most residents of Rockland County who have never filed a bankruptcy petition view the process as a long, dark journey during which they will be forced to sell most of their assets in exchange for having many of their debts declared uncollectible by the bankruptcy court.
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