If you are struggling with debt, you know it can be a lonely feeling. You may not want to tell your friends and family about your financial troubles, and this furthers your sense of isolation. It may be helpful to know that many people in New York are in very similar...
Bankruptcy
Bankruptcy
What if I need to file for bankruptcy a second time?
Financial problems can happen to anyone throughout New York State. This is true regardless of their education, employment and personal circumstances. Sudden illness, an unexpected societal challenge, medical expenses, job loss, divorce and other issues can spur an...
Discharging credit card debt in bankruptcy
Many people use credit cards to pay for expenses and although these borrowers intend to repay the debt, there are sometimes situations where they are unable to. Credit cards often have high interest rates as well and even borrowers who make minimum payments aren’t...
Understanding the automatic stay in bankruptcy
Many Buffalo residents have been told that filing for bankruptcy can offer protection from a person’s creditors, but very few understand how this protection is created. The short answer is the “automatic stay,” a provision of the United States Bankruptcy Code that...
There is no shame in asking for a fresh financial start
For a number of reasons, many residents of the Buffalo area may run into serious financial problems. Recent statistics from the United States Bureau of Labor Statistics show that the employment rate hovers around 7.5% in Buffalo, meaning more than 1 out of 20...
Bankruptcy for independent business owners
Independent small businesses faced a difficult 2020. But their bankruptcy options are limited. Chapter 11 reorganization is a time consuming and costly process which is only realistic for large corporations. Chapter 7 and Chapter 13, however, may be reasonable options...
J.C. Penney nears finalizing buyer to exit bankruptcy
Even large, well known and established businesses hit hard times, especially now, which is why bankruptcy has become such a hot news story. One of the most high profile bankruptcies recently has been J.C. Penney. Nearing a bankruptcy exit News from New York states...
Exemptions can leave you financially stable post-bankruptcy
There are a lot of misconceptions about bankruptcy. Many people who need debt relief mistakenly think that bankruptcy will leave them without anything. With this mindset, they think that the stress of being broke post-bankruptcy isn’t any better than struggling with...
The pluses and minuses of bankruptcy
The last few months were difficult on consumers in this country, especially families who were already dealing with debt. Bankruptcy may provide a fresh financial start when debt becomes insurmountable. Before undertaking this serious step, however, you should be aware...