The (Surprisingly Common) Top Causes of Bankruptcy
In the post-COVID years, news reports flood our feeds describing an alarming rise in consumer debt and defaults in credit. There are about 33,100 average monthly searches on Google for the term debt relief. This means that people are facing a financial problem, and highlights the need to better understand the reasons driving individuals and […]
KEEP READING . . .Will I Lose My House If I File Chapter 7 Bankruptcy?
Battling overwhelming debt can be a tough and distressing experience, but a bankruptcy filing could possibly offer a way to regain financial stability. If you’re considering filing for Chapter 7 bankruptcy, you’re likely wondering about the potential impact on your most valuable asset: your home. In this article, we’ll delve into the complexities of filing […]
KEEP READING . . .How Chapter 13 Bankruptcy Works in Queens
Bankruptcy cases fall under the Bankruptcy Code, 11 U. S. C. Section 101, et seq. This is federal law. Notwithstanding, state and local laws intertwine with each and every bankruptcy case. Additionally, there are several differences between chapter 7 bankruptcy versus chapter 13 bankruptcy. In this article, we will take a look at how chapter […]
KEEP READING . . .Getting Sued by a Landlord for Breaking Your Lease Early? Maybe Not
When most people rent an apartment, there’s generally a lease involved. A lease is a written agreement that offers security to a landlord that a stream of income can be relied upon. A lease also offers security to a tenant that they just can’t be evicted for no reason. In many leases, there is language […]
KEEP READING . . .Can a landlord collect rent if the house is in foreclosure?
While the number of homeowners facing eviction has been reduced in recent years as cases have been resolved, there still remain properties that remain in the foreclosure process. In many of these cases, the files have sat in the court, untouched and unmoved, as creditor banks decide which properties are worth (and not worth) foreclosing […]
KEEP READING . . .Can I file for bankruptcy if I use my home for AirBNB?
Filing for bankruptcy as a homeowner can be a frightening thought because, well, you don’t want to lose your home. Especially if your home produces income, such as with AirBNB, can you file for bankruptcy?
KEEP READING . . .In Bankruptcy, Creditor Must Prove Sufficient Fraud Facts to Have a Debt Declared Nondischargeable
Bankruptcy can offer debtors incredible relief when successful. Debtors that may have overextended themselves, but then came under hard financial times are often reluctant to file because they are highly optimistic that the can recover and return to better financial times. Often, though, the hole they find themselves in tends to get deeper. For creditors […]
KEEP READING . . .Avoid Judgments against Property in Bankruptcy (Equity not required!)
One really powerful goal that people (particularly homeowners) can try to accomplish in a bankruptcy case is “avoiding liens.” When a lien is avoided, it basically means that it’s status as a secured obligation is undone, and the result is that the balance owed is a (usually) an unsecured claim, like most credit cards or personal […]
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