By Tara Siegel Bernard, The New York Times Jan. 20, 2012 Blacks are about twice as likely as whites to wind up in the more onerous and costly form of consumer bankruptcy as they try to dig out from their debts, a new study has found. The disparity persisted even when
By Esther Claudette Gittens Bankruptcy is a beacon of hope for homeowners facing foreclosure. In New York State, both Chapter 7 and Chapter 13 bankruptcies offer a path to financial stability. While some attorneys have traditionally recommended Chapter 13 for its potential to generate more income through extended legal representation,
The decision to declare bankruptcy can be daunting, often accompanied by fears of losing everything. However, it’s important to remember that bankruptcy laws are designed to provide protections that allow individuals to keep certain property and assets. These laws ensure a fresh start without total financial devastation, offering a sense
Bankruptcy, often seen as a financial catastrophe, can actually be a lifeline for many drowning in overwhelming debt. It’s important to acknowledge that bankruptcy can be an emotionally challenging process. It can feel like a failure, a sign that you’ve lost control of your finances. But it’s crucial to understand
The prospect of facing foreclosure can be daunting and stressful. However, it’s crucial to remember that as a homeowner, you have rights and protections afforded by federal law, state regulations, and your mortgage contract. Understanding these rights can help you navigate foreclosure with clarity and confidence. You enter into a
When faced with overwhelming bills due to life events like divorce, illness, or unemployment, bankruptcy can be a beacon of hope, serving as a financial lifeline. By eliminating qualifying debts such as credit card balances, overdue utility bills, and personal loans, bankruptcy offers individuals a fresh start, a chance to
Financial hurdles are often par for the course in the fast-paced business world. Challenges can arise unexpectedly, especially for small businesses in competitive landscapes like New York City, leaving entrepreneurs scrambling for solutions. When facing overwhelming debts and financial distress, bankruptcy may seem daunting yet necessary. But can bankruptcy help
April is designated as Financial Literacy Month. And financial literacy is the knowledge to of how to make smart decisions with money. Many aspire to financial independence, yet it requires planning, discipline, and commitment. It’s more than just accumulating wealth; it’s about attaining the freedom to live on your own
Financial hardship can strike anyone, leaving individuals overwhelmed by debt and pursued relentlessly by creditors. In such dire circumstances, seeking refuge in bankruptcy can provide a path towards financial stability. One of the most significant safeguards offered by bankruptcy is the automatic stay. This legal provision serves as a vital
Foreclosure is a multifaceted legal process in which a lender takes possession of a property when the borrower fails to meet their mortgage obligations. In the state of New York, foreclosure laws and procedures are intricate and can be challenging to navigate for both homeowners and lenders. Understanding foreclosure in
