New York Attorney Explains Bankruptcy Myths

Filing for bankruptcy is the exercise of a federal constitutional right, according to one New York lawyer who says that not only do you have a right to file bankruptcy, but that bankruptcy helps society to renew itself and is a necessary safety valve for individuals and corporations. While it may be a right, there are some common myths about bankruptcy that debtors have a hard time believing. Here are the top three:

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Filing For New York Bankruptcy: When & Which Assets Are Included?

Filing for bankruptcy is often a very difficult decision’ and one that many debtors don’t fully understand. Knowing when to file, what assets are included and excluded such as cash, credit cards, mortgages, furniture, cars, IRAs, retirement plans and security deposits’ and whether or not you can pick and choose what must be included’ are questions that one New York lawyer gets all the time.

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New York Bankruptcy Exemptions

When filing for bankruptcy in New York, federal exemptions are not available. In this article, you will find a list of state exemptions available to debtors in New York.

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New York Bankruptcy Lawyer Explains How Recent Bankruptcy Amendments Affect Filers

It’s no surprise that the downturned economy is responsible for an increase in consumer debt that often leads to filing for Chapter 7 or Chapter 13 bankruptcy. One New York attorney says that filing for bankruptcy is now more complex, more time-consuming and more expensive due to bankruptcy law amendments from the Bush Administration and that it is not something to attempt without experienced counsel.

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NY Attorney Elliot Schlissel on Filing Bankruptcy in New York

Filing for bankruptcy has become commonplace in today’s economy. However, it still remains a mystery to many debtors who might be able to benefit from it by eliminating or reducing their bills and rebuilding their credit. We asked one New York lawyer to explain 1) what bankruptcy is meant to accomplish, 2) in what situations someone should file for bankruptcy such as being unable to pay your bills, mortgage or having other financial difficulties, 3) who can file and 4) how long a bankruptcy stays on your credit report.

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Rebuilding Your Credit After Bankruptcy: How One New York Attorney Helps

After filing for bankruptcy, most good attorneys discuss how to rebuild credit with their clients. What most debtors don’t realize is that rebuilding someone’s credit, if handled correctly, can happen within six months to a year after filing for bankruptcy, according to one New York attorney, who says that understanding your credit score and whether or not you can file again in the future should always be part of the process.

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Differences between Filing Chapter 7 or Chapter 13 Bankruptcy in NY

Most of know what bankruptcy is’ to an extent. However, when debtors are considering filing, it’s important to understand the fundamental differences between a Chapter 7 and a Chapter 13 bankruptcy, the benefits of filing in federal court and how long the process takes for each. Our legal expert, New York attorney Elliot Schlissel, provides some insight.

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Paying a NY Bankruptcy Attorney: How to Make it Affordable

Filing for bankruptcy in New York can cost $1,500 or more. But, how can you pay a bankruptcy lawyer when you don’t have any money, your mortgage is past due, your credit is bad and you’ve already up to your ears in bills? It may seem like a Catch-22 for debtors, but in reality, it’s much simpler than you might think – and there is a way out.

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How Your New York Bankruptcy Affects Co-Debtors

Filing for bankruptcy will affect your co-debtors in different ways depends upon whether you’ve filed a Chapter 7 or Chapter 13 bankruptcy. We asked a New York attorney who’s been helping people file for bankruptcy for many years to explain how joint credit obligations such as car loans, mortgages and credit card bills affect both parties in a bankruptcy.

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