How are sales taxes treated in Chapter 11 bankruptcy?

Will Chapter 11 free you from the obligation of paying IRS sales tax debt? Chapter 11 Bankruptcy is a long and involved legal process which you should pursue when you have decided that your business is truly worth saving. When making this decision, you should also make certain that the amount of the debt you’ll […]

Filing for Bankruptcy When Unemployed

Losing a job is a traumatic experience no matter what the circumstances, and most people like to believe their ill gotten fate is just a bump in the road. Many will try to keep up with bills even though they do not have the income to handle it. They might access their “rainy day” savings […]

Credit Card Debt as a Cause of Bankruptcy

New York City Bankruptcy and Credit Card Debt Attorneys As many people reassess their financial state early in 2013, some will decide it’s time to consult with New York City bankruptcy and credit card attorneys to solve debt problems. Credit Card Debt causes bankruptcy, and bankruptcy can be the right solution to a financial dilemma, […]

Stop Auto Repossession in NYC

If you are hiding your vehicle to keep the “repo man” from taking it back, you’re most likely going to lose your car sooner rather than later. There is a better way to stop your car from being repossessed and to stop other creditor harassment. While filing bankruptcy is a drastic step, it may be […]

Cramdown Plan of Reorganization in a Commercial Real Estate Case

In a Chapter 11 bankruptcy, a cramdown plan of reorganization in a commercial real estate case usually involves a property owner trying to force an under secured mortgage lender to accept a new note for a reduced principal amount, equal to the mortgaged property value, with modified terms such as an extended maturity and a […]