While no one wants to be in the position of filing multiple bankruptcies, sometimes circumstances of medical debt or job loss can cause debt to mount again. Here's what you need to know if you may need to file and have previously received a bankruptcy discharge: The key moment when calculating dates is the case … Continue reading Can I File For Bankruptcy if I Received a Discharge Previously?
More people than ever are investing in cryptocurrency. Increased accessibility has made this category of volatile asset intriguing even to some that are technologically averse. As I write this, Dogecoin is hitting new highs, while one Bitcoin is valued at over $60,000 and hundreds of other "altcoins" are bought and sold on exchanges such as … Continue reading Cryptocurrency: Can the Bankruptcy Trustee Take My Bitcoin?
As of mid-March 2021, a new round of stimulus payments from the federal government is being deposited into bank accounts. While not explicitly protected in bankruptcy by the 2021 bill, it is very likely that these funds will be considered to not be property of the bankruptcy estate (not subject to the bankruptcy trustee's control) … Continue reading Is Your Stimulus Check Protected in Bankruptcy?
In New York, a creditor that has obtained a money judgment may garnish up to 10% of an individual's wages. For many people, being garnished is the wake-up call they need to begin facing their debt situation. Fortunately, bankruptcy can put an end to a wage garnishment and, in some circumstances, even recover some funds … Continue reading Stopping Wage Garnishments in Bankruptcy
"If I had the money to pay you, I wouldn't be in this mess!" That's something that all bankruptcy attorneys hear, and while usually not true (I don't charge nearly enough for that amount to be able to fix my clients' finances), it's a sensible feeling. Money is the problem, and to fix that problem … Continue reading How To Afford Bankruptcy Attorney Fees When You’re Broke
Some of my potential clients have been expressing hope that Congress would deliver substantial relief that would allow them to stave off bankruptcy. Unfortunately, it appears that the current relief bill will only offer minimal help for individuals. The most relevant provisions for my clients are the $600 direct relief payment and the $300 increase … Continue reading COVID “Relief” Bill Offers Little For Individuals
One of the most common concerns when considering bankruptcy is whether you can file and keep your car. While Buffalo has public transportation options, most people in Buffalo and the surrounding areas are dependent on a personal vehicle. The good news is that almost all bankruptcy filers can retain their vehicle in bankruptcy. In a … Continue reading Can I Keep My Vehicle in Bankruptcy?
Virtually all individuals who file for bankruptcy must complete a pre-filing and a post-filing credit counseling course to be eligible to file and obtain a discharge of debts. These courses are usually completed on the internet, though telephone and in-person options are available. Each course typically lasts around 2 hours. There are many providers that … Continue reading Bankruptcy Credit Counseling Requirements – An Easy Hoop to Jump Through
For many people, a retirement account is their largest asset. Fortunately, most retirement assets are protected when filing a Chapter 7 or Chapter 13 bankruptcy. Pensions, 401(k) or 403(b) plans, and IRAs are the most common retirement assets, and the "fresh start" afforded by filing for bankruptcy includes the ability to keep these benefits. Potential … Continue reading Retirement Accounts in Bankruptcy
In general, if you are even remotely considering bankruptcy as a solution, you should consult with an attorney before making any financial decisions because the law can affect you and those you care about in surprising ways. If you owe money to family and/or friends, it is natural to want to take care of them … Continue reading Insider Creditors – Don’t Repay Money Owed To Mom and Dad (yet)