Recent Posts in Bankruptcy Category

  • Can I Declare Bankruptcy if I Don't Own Any Assets?

    || 10-Nov-2017

    We are occasionally approached by clients who aren’t sure of what they can do when they need to declare bankruptcy, but don’t own much in the way of property and assets. For starters, they have a high amount of debt, but to add to their woes they own almost nothing. Often times these people have no savings, no retirement, and nothing more than a simple car, a few changes of clothes, ...
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  • Can My Student Loan Debts Be Discharged in Bankruptcy?

    || 10-Jul-2017

    Going through bankruptcy is stressful enough without the financial burden of student loans. Can they be discharged during bankruptcy? Generally, the answer is no. There is one exception to this rule, however, that may allow you to discharge all or part of your loan amount – the undue hardship rule. If you can prove that paying your student loans would cause undue and severe financial ...
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  • Tips to Improve Your Credit Score After Bankruptcy

    || 10-May-2017

    Declaring bankruptcy can be a massive blow to your financial standing, and may have a serious negative impact on your credit. However, doing so should be a blessing in disguise as you have the ability to rebuild your financial standing and regain your health once again. When you declare bankruptcy, your credit score may suffer, but you can begin to see steady improvement within just a few short ...
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  • The Pros & Cons of Bankruptcy

    || 1-May-2017

    Does the concept of filing for bankruptcy frighten you? While the word bankruptcy itself gives a rather negative ring to our ears, there can quite a few benefits to declaring bankruptcy in a timely fashion if your finances have become unmanageable. There are many potential ramifications to declaring bankruptcy. In many cases, it can affect the filers credit rating, which can be difficult to ...
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  • Common Reasons People Fall Into Credit Card Debt

    || 20-Mar-2017

    Millions of Americans each year will either struggle to keep their finances positive or fall into debt. Each person who goes into debt will do so for his or her own unique reasons, of course, but many cases are linked directly to credit cards and other forms of credit lines. What is it about credit cards that can lead so many people into difficult financial situations, or even bankruptcy ? Our ...
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  • Bankruptcy Lawyer NYC

    || 16-Mar-2017

    Finding a bankruptcy lawyer isn’t a difficult task given the large number of practitioners offering debt relief services in New York City. But you have to stop for a moment and think, do you just want any attorney, or do you want to find an advocate that is best suited to work on your particular situation. Identifying a great bankruptcy attorney isn’t nearly as easy as it may seem. ...
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  • Filing Bankruptcy Due to Gambling

    || 6-Mar-2017

    Get Out Of Gambling Debt & Casino Markers The top reasons for filing for bankruptcy are insurmountable medical bills and student loan debt. However, bankruptcy can be used to discharge, reduce, or otherwise manage all forms of debt, including gambling debt. Oftentimes, these debts are borrowed from credit cards at high interest rate cash advance, or through the casino using a marker. People ...
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  • Stephen Basedow presents Lawline CLE on Bankruptcy Ethics

    || 20-Feb-2017

    New York, New York: On February 7 th, 2017, Stephen Basedow and Michael Riela co-presented Ethical Rules and Pitfalls: What Every Bankruptcy Professional Needs to Know, a CLE program with Lawline. Broadcast live online and recorded at Lawline’s Studio in New York City, the program offered viewers strategies on tackling common issues that arise when filing for consumer or business bankruptcy. ...
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  • Discharging Social Security Overpayments in Bankruptcy

    || 20-Jan-2017

    Many retired or disabled individuals rely on the payments they receive from the Social Security Administration (SSA) to pay for their necessities. Unfortunately, the SSA can make mistakes and actually disburse too much money or even send payments to individuals that no longer qualify for such benefits. When an overpayment happens, the money will need to be returned. While getting an extra check or ...
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  • Cancelling and Settling Timeshare Debt

    || 16-Jan-2017

    Buying into a timeshare can seem like a sensible and affordable way to vacation with friends and family. But what happens if your finances tighten and your timeshare costs are no longer within your budget? With a contractual obligation to pay for the shared property, cancelling a timeshare agreement is not as simple as making a few phone calls. Once the salesperson succeeds in convincing a buyer ...
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  • New Year's Resolution: Get Out of Debt!

    || 22-Dec-2016

    Everyone makes New Year’s resolutions to themselves each year but not many people can actually boast that they accomplished them. This year should be the year that is different. If you are in debt, make finding debt relief your New Year’s resolution and stick to it! With the right preparation, knowledge, and mindset, you can make it happen. When you are pursuing debt relief, keep these ...
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  • Filing for Bankruptcy Due to Medical Debt

    || 20-Dec-2016

    One of the most common reasons people in New York City fall into financial straits is due to medical debt. Unexpected illnesses and injuries can cause individuals to accrue thousands of dollars’ worth of medical bills, especially if they are uninsured or underinsured. Fortunately, individuals are often able to seek relief from their medical debt through bankruptcy. How Are Medical Debts ...
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  • Can Taxes Be Discharged During Bankruptcy?

    || 29-Nov-2016

    One of the most common myths regarding bankruptcy is that a person may not have their tax debts discharged. This is false! While many outstanding tax debts will indeed still be owed at the end of a Chapter 7 bankruptcy or will need to be repaid in full in a Chapter 13 bankruptcy repayment plan, certain older income tax debts may sometimes be completely eliminated via bankruptcy in New York. ...
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  • Bankruptcy Due to Divorce

    || 29-Nov-2016

    There are a lot of reasons why people file for bankruptcy – a business venture falls through, unexpected illnesses rack up medical bills, employment opportunities are lost, etc. – but one of the most commonly cited reasons is divorce. Ending a marriage is in no way inexpensive, especially if two spouses cannot see to eye and keep returning to court or working with their attorneys. ...
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  • What Are the Effects of Filing for Bankruptcy?

    || 28-Sep-2016

    Filing for bankruptcy can be a frightening prospect. While bankruptcy can be an excellent method to get creditors off your back and hit the reset button on your financial situation, many are deterred from filing due to the negative social stigma and general abundance of false notions regarding the process. While there are certainly many myths surrounding bankruptcy, there are several both positive ...
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  • Effects of Filing for Bankruptcy

    || 16-Aug-2016

    Bankruptcy can seem like an intimidating prospect when viewed from a distance. But when you get up close to it and work with a trusted bankruptcy attorney, some of the mystery will fall away and you will see it as the beneficial financial procedure that it really is. You should also be able to see the positive effects that a successful bankruptcy filing can cause. Three notable effects of filing ...
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  • Relief From Surprise Medical Bills

    || 8-Aug-2016

    Are you seeking relief from surprise medical bills or emergency services? According to a study by NerdWallet, over 56 million Americans under the age of 65 will have trouble paying healthcare related bills, with medical debts being the biggest cause for filing for bankruptcy. Dealing with medical bills can be a daunting task, especially if they’re unexpected. Even if you are covered under ...
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  • Can You Change Your Mind After Filing for Bankruptcy?

    || 1-Aug-2016

    If you have filed for bankruptcy, there are various reasons why you may want to pursue the cancellation or dismissal of your case. Financial situations change and what may have been in your best interest at one time may no longer be the optimal route forward. Maybe you have unexpectedly inherited money, secured a new job, or were able to avoid a home foreclosure through alternative means. ...
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  • An Overview of Automatic Stay in Bankruptcy

    || 25-May-2016

    When a person files for Chapter 7 or Chapter 13 bankruptcy, they are afforded relief from creditor communications and collection efforts through a court injunction known as an “automatic stay.” An automatic stay can provide individuals with protection against bill collectors, allowing them much needed breathing room to reorganize their finances. An automatic stay can protect against ...
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  • Qualifying for Chapter 7 Bankruptcy

    || 27-Apr-2016

    Are you struggling to make ends meet due to overwhelming debt? You may be able to push the “reset button” on your financial situation by filing for Chapter 7 bankruptcy. Chapter 7 bankruptcy, also known as liquidation bankruptcy, can allow you to completely eliminate your outstanding debt and start fresh towards a new financial future. It is important to note, however, that Chapter 7 ...
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  • What Is the Difference Between Chapter 7 and Chapter 13 Bankruptcy?

    || 20-Apr-2016

    One of the most commonly asked questions regarding bankruptcy surrounds the similarities and differences between Chapter 7 and Chapter 13 bankruptcy. While these two plans are both methods for a person to eliminate their debt and start fresh with their finances, the way they are completed and the protections afforded by each are vastly different. What is Chapter 7 Bankruptcy? Chapter 7 bankruptcy ...
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  • Can I Exclude a Credit Card from Chapter 7 Bankruptcy?

    || 24-Mar-2016

    One of the most common questions regarding filing for Chapter 7 bankruptcy is whether or not a debtor can choose to exclude a credit card from their petition for bankruptcy. Some people wish to collect the benefits of having their debts discharged during bankruptcy but do not want to risk losing their credit card in the process. On the flipside, a person may wish to omit their credit card debt ...
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  • Debts That Are Non-Dischargeable in New York

    || 10-Mar-2016

    People who are overwhelmed with the burden of overwhelming unpaid debts often turn to bankruptcy for relief. In the case of Chapter 7 bankruptcy, after debtors liquidate their assets to satisfy their creditors, a majority of their debts will be permanently discharged, allowing them to start fresh towards a new future. While bankruptcy can be a perfectly legitimate and honorable way for a person to ...
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  • Filing for Chapter 7 Bankruptcy in Brooklyn, NY - FAQ

    || 9-Nov-2015

    Bankruptcy can be confusing and complicated. Hiring an attorney can make the process tremendously easier for the debtor. Our office handles the bankruptcy planning, so that we can identify red-flags that may interfere with the discharge of debts. We prepare the bankruptcy petition, which is typically in the range of 80 pages. We handle the filing of the bankruptcy with the court, and the ...
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  • Super Lawyers Achievement - New York Rising Star - Simon Goldenberg

    || 5-Oct-2015

    Simon Goldenberg, Esq., principal attorney at the Law Office of Simon Goldenberg PLLC has been selected to the 2015 New York Rising Stars list for the area of Consumer Law. Each year, no more than 2.5 percent of the lawyers in the state are selected by the research team at Super Lawyers to receive this honor. Attorney Goldenberg has been conferred with this award for the consecutive years of 2014 ...
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