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Posts tagged "Chapter 7 bankruptcy"

Why could my Chapter 7 bankruptcy claim be denied?

Almost nothing about filing for bankruptcy is easy. A New York resident may struggle with the decision of whether to file for a considerable about of time before starting the process. Once the paperwork is completed and the filing is offered, he may find himself waiting and working hard to find a reasonable solution to his financial troubles. Even then, after believing he did everything that he had to do to complete the process, he may find that his request for bankruptcy protection is denied.

Discharge debt through personal bankruptcy options

To some New Yorkers, bankruptcy is a very scary word. To those individuals, it may mean failure or it may mean a loss of control. Even many people who have never had to consider the repercussions of filing for bankruptcy have negative associations with the term. What few people fail to recognize is that personal bankruptcy can have many benefits as well.

How are debts managed under individual bankruptcy?

Each day New Yorkers read their newspapers and online news sources and find conflicting information about the economy. Some sources claim that the nation is still embroiled in a battle for solvency while others claim housing market improvements and the stock markets are pulling the economy back into the black. Regardless of what the national economy is doing individuals living here in Rockland can still feel the pinch of financial strain.

Tax season and personal bankruptcy

For many New York residents, this time of the year is known as tax time. People should have received tax documents from employers and are getting prepared to file their taxes. Many New Yorkers look forward to this time because they are owed a tax refund by the state or federal governments. This money can then be used by consumers for whatever they want.

Can the bank take your home after bankruptcy?

An interesting question was posed to the bankruptcy adviser at ABC News this month that we figured many of our readers might also be asking. The question asks whether a bank can foreclose on a home well after a bankruptcy filing has been settled. Unfortunately for the man who asked the question, the answer may not have been quite what he expected.

Bankruptcy case highlights treatment of rent-stabilized lease

A number of tenants in New York live in apartments where the rent is stabilized by law for those who continue long-standing residencies. A consumer bankruptcy filing by a 79-year-old widow behind on her bills after the tragic death of her husband poses the issue of whether the lease on such a rent stabilized apartment can be regarded as one of her assets under the law.

Bankruptcy may be only solution to large medical debts

A sudden or chronic illness can ruin a family's finances. With the high cost of medical care these days, it is often true whether or not there is health insurance, since even the co-payments on hospital stays and surgical procedures can quickly mount up to unmanageable levels. Many families in Garnerville, New York, Rockland, New York, and elsewhere have experienced this. A consumer bankruptcy, however, provides an opportunity to get out from under crippling debt and get a fresh start in life.

Some things to know about taxes and bankruptcy

One of the key aspects to a Chapter 7 bankruptcy filing is the discharging of certain debts the filer owes. These debts are placed into two groups: secured and unsecured. The former group consists of debt that can't be discharged through bankruptcy, which are things like child support payments, student debt, most financial aspects related to a crime and certain taxes; while the latter group consists of debt that is dischargeable in bankruptcy (and it usually consists of credit card debt and medical debt).

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