Tag Archives: bankruptcy

Can Creditors Garnish My Income?

Yes, creditors can garnish your income, but some specific rules and limitations apply depending on the type of debt, state laws, and financial situation. Garnishment is a legal process in which a creditor obtains a court order to collect money directly from your paycheck or bank account to repay a

Bankruptcy: Can it Keep My New York Business Afloat?

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

How Bankruptcy Stops Your Creditors: The Automatic Stay

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

Filing for Bankruptcy in 2024: What You Need to Know

When thinking of filing for bankruptcy, understanding the bankruptcy process and the available options can be challenging. This article provides general information, not legal advice, to simplify things for you.  What Is Bankruptcy? “What is bankruptcy?” This is a common question when facing financial challenges. Life happens, and factors such

How Corporate Bankruptcy Works

By Lindsay Simon | The Conversation More than 20,000 companies file for bankruptcy every year. Although companies follow many different paths to bankruptcy, each one encounters a process that is carefully designed to balance the rights of debtors and creditors. As I’ve learned from studying and practicing bankruptcy law, the system is

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