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New York Bankruptcy Lawyer Says Not To File For Bankruptcy »

What I’m about to say borders on heresy, and I’m pretty sure I’m going to get flamed by my colleagues and friends for saying it.  I’m willing to take the risk, and I invite everyone to submit their comments to this post to let me know what they think.
If you’re thinking of filing for bankruptcy [...]

Bankruptcy and Security Clearances »

So what happens to your security clearance if you file for bankruptcy protection?  Is it revoked? Will you be terminated from your job?  Will you be demoted?  Does your salary decrease?
While there are bankruptcy code provisions that regulate the public and private sector over discriminations in employment when one files for bankruptcy protection, most employers [...]

Even with Bankruptcy, Put the Skunk on the Table »

Lawyers have a saying about trying a case: Put the skunk on the table.  It means if you’ve got something really bad going on in your case, it’s best to just deal with it.  Tell the judge or jury before the other side does so you can minimize the damage.
It’s really no different with [...]

Bankruptcy Exemptions in New York State »

When filing bankruptcy, a client’s first question often involves whether or not they can keep things they own, like their home, their car, or their 401(k).
These questions are important, and the answer to the question is two-fold:
1. Is there a lien against the property?
2. If no lien exists, what Bankruptcy Exemptions are available?
If there is [...]

When Should I See a Bankruptcy Attorney »

One day this week, I got so angry at my potential clients.  I did not express this anger out loud, but I did  want to reach across my desk and say  YOU SHOULD HAVE COME HERE WEEKS OR MONTHS AGO.  Three new clients, and all three of them, would have had much better options had [...]

Can I File A Medical Bankruptcy? »

Medical bills from a prolonged or serious illness are one the most common reasons why people need to file for bankruptcy.  I often get calls from people looking to file a medical bankruptcy.
But there is no such thing as a medical bankruptcy.
Medical bills are unsecured debts ( just like credit card debts), so a debtor filing for a [...]

A Good Foreclosure Story »

Unless you’ve been living under a rock, you know that foreclosures are at record levels. That’s true all over, but it’s even more of a problem for folks in Michigan. Caught between the real estate meltdown and increasing globalization of manufacturing, things haven’t been this bad since the Great Depression. Unemployment is at almost 15%, [...]

Steps I Need To Take To File Bankruptcy »

I am often asked what to I need to do to file a bankruptcy.  My reply is you have taken the first step. You have contacted a bankruptcy lawyer seeking information.  Only with this information can you determine if you can file bankruptcy and if bankruptcy is the right thing for you to do.  I [...]

A House May Be Exempt In Bankruptcy, But You Don’t Get A Free House In Bankruptcy »

You will have to keep making your mortgage payments if  you have a mortgage and want to keep your house after filing for bankruptcy.  I have had a number of phone calls recently from people who can’t afford their mortgage payments.  They were under the impression that by filing bankruptcy, they could keep their [...]

Top 15 Myths Of Bankruptcy (Unless You’re Counting) Part Three »

11.  THOSE DEBT MANAGEMENT PLANS ADVERTISED ON TV AND RADIO REALLY WORK!
FALSE – Most people are optimists about their finances.  Things don’t always get better. Check out this post about Debt Management Plans.
12.  YOU CAN KEEP ONE CREDIT CARD (JUST DON’T TELL YOUR BANKRUPTCY ATTORNEY)
FALSE – You need to list all of your debts.  In [...]