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Posted by: Erik Clark
Chapter 7 Bankruptcy in New York: What You Need to Know
With the iconic NYC skyline featured in movies and news stories the world over, the Empire State exudes strength. However, despite the iconic cityscape, the economy of New York City and New York state is being hard hit by the economic shutdowns brought on by the coronavirus. The restaurant and entertainment industries are having the…
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Posted by: Erik Clark
Wage Garnishment Laws in NY: Can Creditors Take My Paycheck?
Last updated Oct. 30, 2017. Although many people believe that missing a payment or two on a debt can result in a quick garnishment of their wages, this is not the case. Having one’s wages garnished in New York State is the end result of a process that can last for several months. With credit…
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Posted by: Rob Cohen
What Does Bankruptcy do to Credit Scores?
When you’re in debt and trying to decide what action to take, you may be concerned about how to protect your credit score. That’s often one of the last barriers to deciding to file for bankruptcy – what will this do to my credit? The answer may surprise you. Bankruptcy certainly does have an effect…
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Posted by: Erik Clark
Payday lending pitfalls: What to know
With the holidays approaching, people of every income range will be buying gifts for others. For many, this is just an added year-end expense. Others who feel the pressure to give to family and friends but don’t have the money may look for other ways to fund this seasonal expense. The ads for “payday” loans…
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Posted by: Rob Cohen
Can I pay back family before bankruptcy?
In times of difficulty, we naturally turn to family and friends for help. The same holds when those difficulties are financial. Family and friends know you and understand your troubles; they’ll be willing to lend you a hand even when banks won’t. They trust you regardless of your credit score. If you borrow from people…
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Posted by: Rob Cohen
Gift or Loan, and Why Does It Matter for Bankruptcy?
Last updated May 31, 2017. When you’re struggling with debt, it’s natural to turn to friends and family for help. They know you and they trust you, making it simpler and easier to seek financial aid from them than from a bank. If your financial difficulties continue and you decide to file for bankruptcy protection,…
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