What is a New York Judgement Lien

In New York when you have not paid a debt, your creditor can seek compensation by obtaining a lien against your property. Judgment liens against real or personal property can be awarded in court. In civil matters, this can take place after a verdict is given by a judge, jury or when a court approved […]

What is the New York Bankruptcy Means Test?

The “Means Test” in bankruptcy was created through legislation passed in 2005 and is used during a Chapter 7 bankruptcy case to determine a person’s eligibility to file. The test analyzes the debtor’s income over the past six months prior to filing and compares it with the state’s monthly median income. The Means Test is […]

What are the Costs of Filing for Bankruptcy in New York City?

Comes the day when you realize the cold reality of the financial straits you’re in. Perhaps the children needed help with their tuition, or your family had to have medical care, or your job went away. Whatever the reasons, you didn’t spend frivolously and you fulfilled your responsibilities. The credit card balances, the mortgage, the […]

Student Loans Debt Rises – Bankruptcy an Ppportunity to Catch Up

Education is often touted as a necessary tool for securing well-paid employment. Unfortunately, thousands of college graduates and their parents are facing mountains of debt in order to secure that education. Oftentimes, students graduate from college and discover they are unable to purchase a car, a home or begin planning for marriage and children. This […]

Medical Debt is a common cause of bankruptcy

Generally, the decision to file for bankruptcy is never an easy one. Typically, consumers see bankruptcy as an option of last resort. Oftentimes, the final decision is a result of staggering medical bills which are often compounded by loss of income due to health issues. While some studies show that nearly 50 percent of all […]