Personal Bankruptcy

A New York resident who is currently going through a bankruptcy or someone who is considering bankruptcy as an option may want to know if they can walk away from a home during the proceedings. While it is sometimes possible…

A recent study conducted by economists from the Federal Reserve Bank of New York and Columbia University suggests that the costs associated with filing for personal bankruptcy could cause some people to become insolvent. The researchers looked at the impact…

People in New York who have declared bankruptcy or had a foreclosure may be able to qualify for a new home loan under a federal program called ‘Back to Work – Extenuating Circumstances.” Introduced in 2013, the Federal Housing Administration…

New York homeowners with second mortgages may want to know about a case being discussed by the Supreme Court regarding how bankruptcy should affect the status of “underwater” second mortgages. The case involves allegations that the current system, which is…

People who file for bankruptcy in New York often worry about what assets might be seized after they file. Although some people may be tempted to transfer valuable assets to family members and friends in an effort to protect them,…

According to a study done by an attorney, 40 percent of holders of student loans were able to have those obligations discharged in bankruptcy court if they attempted to do so. Furthermore, although there are thousands of good candidates for…

The Federal Reserve Bank of New York has filed a report that indicates that bankruptcy may not be the last resort many people make it out to be. Analyzing changes in bankruptcy law from 2005 onward, the Federal Reserve has…

While filing for bankruptcy may result in a discharge of many different types of debt, tax obligations are only released under certain circumstances. For example, being freed from tax debts is typically more likely when the individual is filing for…

Making the decision to file for personal bankruptcy should not be taken lightly. Declaring bankruptcy can have long-term financial consequences. However, for some New York residents, it can make funds available to take care of necessary expenses. Some of the…

Individuals in the state of New York may have their homes foreclosed upon if they miss a mortgage payment. A payment is considered late if it is still outstanding even a day after the due date. After 16 day, a…