As young adults in Rockland County graduate from college and prepare to enter the working world, one of the biggest obstacles many face is paying off the loans they incurred to pay for college. For many people, their student loan balance reach into the high five...
Month: May 2018
What is a ‘341 meeting’ in a Chapter 7 bankruptcy?
Anyone in New York who files a petition under Chapter 7 of the United States Bankruptcy Code must attend a meeting with creditors and the trustee early in the proceeding. The meeting is required by Section 341 of the Bankruptcy Code, and it is commonly referred to as...
The advantages of reaffirming a debt in bankruptcy
When a resident of Rockland County considers filing a bankruptcy petition, one of the many questions he or she may have is whether he or she will be able to keep his or her car. The answer depends in part on the kind of bankruptcy petition that is filed and also on...
Personal bankruptcy basics for individuals
All the recent news about high-profile corporate bankruptcies including, Toys "R" Us, Gibson Guitars and Weinstein Companies, can obscure the remedies that bankruptcy may provide for individuals. Individuals in Rockland County and other suburbs of New York City should...
What should landlords know if a tenant files for Chapter 11?
The bankruptcy of a business tenant can be financially cataclysmic for a commercial landlord. If a commercial landlord in New York believes that a tenant is on the verge of filing a Chapter 11 business bankruptcy petition, understanding the provisions of the...
