When you’re struggling with money, nothing is worse than opening your bank account to see it drained. Seeing that you have bounced checks or overdrafts in your account can make you feel terrible about yourself and your ability to take care of your family. Don’t be...
Compassionate, Caring And Professional Services
Can you pass the means test for New York Chapter 7 bankruptcy?
Chapter 7 bankruptcy is what most people think of when they hear the word bankruptcy. It is also known as liquidation bankruptcy because the courts potentially have the right to force you to sell certain assets to partially pay back your creditors once you initiate...
Bankruptcy comes with some unexpected emotions
Filing for bankruptcy is one option that individuals have for taking control of their finances. What many people don’t realize is that this comes with many considerations. Some people think that they are going to be happy and relieved when they file, but that’s not...
Bankruptcy can lead to emotional distress
Knowing that you can’t pay your bills and make ends meet can be emotionally challenging. For many people who are considering bankruptcy, this is coupled with feelings of despair and shame. This doesn’t have to be the way that they feel. While bankruptcy was once...
Bankruptcy is often sparked by medical expenses
In New York and across the United States, one of the most common ways for people to find themselves in difficult financial circumstances is through medical expenses. For most people, these medical costs will lead to various attempts to keep from falling too far...
Bankruptcy may not eliminate student loan debt
Many people in New York are struggling with massive student loan debt. Across the country, borrowers owe $1.59 trillion in student loans, and the issue has been raised in presidential campaigns and major media. While filing for bankruptcy can help people to deal with...
How to pay medical bills without credit cards
Since 2009, medical expenses have increased 33%, which has outpaced the increase in median household income over the past 10 years. This has led some New York residents to put their medical bills on credit cards. However, there are ways to avoid using credit cards and...
Study finds 137 million Americans overwhelmed by medical debt
Medical bills are a major problem for people living in New York and across the U.S. In fact, around 137.1 million Americans have endured financial hardship due to medical expenses in 2019 alone, according to a new study by TD Ameritrade. Researchers from the financial...
Bankruptcies on the rise for older adults
Older adults in New York are more likely to have to declare bankruptcy than in previous decades. People 65 and older now make up 12% of people filing for bankruptcy compared to about 2% in 1991. Between 1991 and 2016, there was a 66% increase in people between the...
Student loans are sometimes dischargeable in a bankruptcy
New York is home to some of the nation's finest universities, and the students who attend them often take on tens of thousands of dollars of debt to pay their tuition and living expenses. Individuals who are struggling to make student loan payments often believe that...