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Posts tagged "filing for bankruptcy"

Interest, APR can cost credit card users money

It is fairly easy for a New York resident to get a new credit card. Many people receive unsolicited offers through their daily mail and others are bombarded via email with credit proposals from banks and other lending institutions. It may seem like the ubiquity of credit cards available to people would make those purchasing devices unprofitable in such a saturated market; credit card companies, however, have several tools that they can exploit in order to make money off of their credit card holders.

What must be included on a bankruptcy financial statement?

A lot of paperwork is generated when a New York resident chooses to file for personal bankruptcy. For this reason, some individuals decide to retain the services of professionals who work in the bankruptcy and debt relief fields to help manage the requirements of the bankruptcy process. Whether a person files for Chapter 7 or Chapter 13 bankruptcy, he or she may be asked to include among his many documents a personal financial statement.

Are all retirement investments safe during bankruptcy?

One of the biggest fears that a New Yorker may have about filing for bankruptcy is losing any retirement savings that he may have accrued during his lifetime. Bankruptcy can wipe a person's financial slate clean, sometimes including accounts he had set up for the purposes of eventually retiring. For some, the idea of working indefinitely can be even more terrifying than subjecting oneself to the regulations of the federal bankruptcy courts.

Earning pattern can influence likelihood of bankruptcy

As young Garnerville residents approach adulthood, they may contemplate the variety of occupations that they could embrace as their possible future careers. Studies in high school and post-secondary programs may prepare them for particular industries and, depending upon what they choose to do, they could earn salaries that spread across a wide expanse of possibilities. One interesting financial trend has been noted in a professional industry that most youths can only dream of joining.

Consumer bankruptcy myths may harm struggling debtors

Prior posts on this New York bankruptcy law blog have discussed the struggles that many debtors experience when confronted with the decision of whether to file for consumer bankruptcy. Some fear that if they file for bankruptcy they will never be able to access credit again. Others worry that their credit scores will be so negatively impacted that their financial lives will never recover.

Avoid mistakes when assigning dischargeable debts

Choosing to file for personal bankruptcy is a difficult process that a person should not take lightly. Though bankruptcy can provide a New York resident with the opportunity to eliminate or reorganize his debt into a manageable sum, there are many important issues to consider before signing a bankruptcy filing and seeking bankruptcy protections. One of those considerations is the classification of debts as dischargeable or nondischargeable.

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.

Make 2015 the year you take control of your debts

The holidays have come and gone and a new year is now upon the residents of Rockland. As individuals across the community plan and commit to their 2015 resolutions, some may think about what they can do to improve their financial health in the year to come. While some people may be able to take control of their money matters with planning and monitored spending, others may need more drastic assistance to get their financial lives back on track.

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.

Can bankruptcy be worse than carrying high debts?

Many New York residents shudder when they think about filing for bankruptcy. However, their fears about the process often stem from the feelings of personal defeat they believe they would experience if they chose to utilize bankruptcy protections. While personal stigmas and shame are certainly potential consequences a person could feel after filing for bankruptcy, non-subjective factors also exist that can make filing for bankruptcy an incredibly difficult undertaking.

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