Bankruptcy

For many, bankruptcy is a frightening endeavor, as the word colloquially means something other than its true meaning. In truth, bankruptcy is a valuable tool that provides many homeowners across the country with a second chance, allowing them to get their finances back on track and back on their feet again. That being said, to […]

For many homeowners, there is nothing more frightening than filing for bankruptcy. The word carries a heavy weight, and many people fear filing for bankruptcy will lose their home, their possessions, and otherwise. Fortunately, this is largely untrue, and bankruptcy is actually a fantastic tool that all homeowners should use to their advantage if their […]

There are few things more stressful than being in debt. Unfortunately, many individuals throughout the United States are in serious debt as we speak, and if you cannot keep up with various bills, mortgage payments, and more, it is time to start seriously considering your legal options. Please continue reading and reach out to our […]

Business owners throughout the United States take great pride in their businesses, and will often do everything they can to make their business a success. Unfortunately, for many, there comes a time where their business does not perform as expected, and those business owners will often find themselves in debt as a result. Fortunately, even […]

There are few things more frightening than the prospect of losing one’s home. Unfortunately, when people accrue multiple debts and can no longer find the means to pay off those debts, they often start worrying about what the future holds. Can they keep their home? Their car? Will they have to go out on the […]

When someone can no longer pay off debts, they may consider filing for bankruptcy. That being said, there are different types of bankruptcy. Chapter 7 bankruptcy is when your assets are essentially converted into cash by creditors. Please continue reading and speak with our New York bankruptcy attorney to learn more about whether Chapter 7 bankruptcy […]

Nobody imagines that at some point in their lives, bankruptcy may be a viable option to get them out of hot water. However, if you are someone who currently has debts that you simply cannot pay off on your own, you should strongly consider reading on and speaking with our experienced New York bankruptcy attorney […]

Due to the recent COVID-19 pandemic, many businesses throughout the United States have gone under. This is an unfortunate reality that many business owners throughout the country, and especially in New York, have had to come to terms with. That being said, if you are a business owner, your business is more than your pride […]

If you are a business owner and you find yourself unable to pay off serious debt, there is a very good chance you are wondering about what your options are. Fortunately, there are several options on the table. One of those options is filing Chapter 7 business bankruptcy. Please continue reading and speak with our knowledgeable Rockland […]

If you are someone who has bills piling up and debt accumulating with no way to pay it off, you are most likely considering filing for bankruptcy. That being said, there are many types of bankruptcy, which is why you should strongly consider hiring an experienced Rockland County bankruptcy attorney who can analyze your situation […]

There are few things more nerve-wracking than compiling debt and being unable to pay your bills and uphold your standard of living. If you find yourself in this situation, there is a very good chance that your family’s future is at stake. Fortunately, there may be a solution: filing for bankruptcy. Though this may seem […]

If you are someone who recently filed for bankruptcy, there is a very good chance that you are now breathing a sigh of relief. However, one of the few downsides of filing for bankruptcy is that it does negatively impact your credit. That being said, there is no need to panic–in fact, there are several […]

One of the most important steps in the bankruptcy process is attending the 341 meeting. This meeting is also sometimes referred to as the meeting of creditors. Without an attorney by your side, this meeting can be rather frightening to attend, however, with the assistance of an experienced Rockland County bankruptcy attorney, it will be […]

Filing for bankruptcy is a frightening time in many individual’s lives, especially if they recently received a foreclosure notice or any other threatening letter from collectors. However, with the right attorney by your side, filing for bankruptcy does not have to be a nightmare. Here at our Rockland County bankruptcy firm, we want to ensure […]

If you are someone who has recently filed for bankruptcy, or you are ready to begin the bankruptcy process, you are most likely wondering how long it will take, from start to finish. Unfortunately, though we understand that you simply wish to get back to life as you once knew it as soon as possible, […]

Recently, President Trump announced that individuals in New York who are currently receiving unemployment benefits in the wake of the COVID-19 pandemic are entitled to an additional three weeks of unemployment payments of $300. The initial extension of unemployment benefits came as welcome news to all those receiving the $600 per week unemployment payments, which […]

If you and your spouse are looking into filing for bankruptcy, though you are also looking to get divorced, this poses an obvious question: which should come first. Please continue reading and speak with our knowledgeable Rockland County bankruptcy attorney to learn more about bankruptcy and what the best option is for you. Here are […]

For many individuals in New York State and throughout the country, bankruptcy is the most viable option when push comes to shove. Of course, before filing for bankruptcy, you should examine all of your options to see if there is a potentially less drastic route you can take. However, for many, this is simply not […]

Recently, the Trump Administration announced that all federally-held student loans will be suspended until the end of this year. This comes as yet another way in which the Trump Administration is attempting to assist all those who have been harmed by the impacts of the new coronavirus. Additionally, interest on any federal loan regarding student […]

If you are someone who recently lost a family member, there is a very good chance you are going through a great deal of emotional stress. Here at The Law Offices of Allen A. Kolber, Esq., we understand this, which is why we are dedicated to helping individuals through some of the most complex times […]

Recently, Governor Cuomo signed legislation that provides renters across New York with $100 million total in financial relief. In the legislation, which extends through July 31, individuals seeking financial assistance will have to prove several things. First, they must prove that they lost income due to the COVID-19 pandemic. From here, they will have to […]

Chapter 13 bankruptcy is a great way for many individuals to restructure their financial situation and move on with their lives. However, though bankruptcy can be a fantastic option, people frequently have reservations about filing, primarily because of a fear that they will “lose everything.” Fortunately, we are very happy to tell our clients that […]

Filing for bankruptcy is a big step in anyone’s life. For many, it’s a frightening word. Fortunately, in reality, bankruptcy is not nearly as big of a jump as many of our clients first believe. That being said, oftentimes, clients actually are relieved to learn that they do not have to file for bankruptcy at […]

If debts are piling up and you’ve exhausted all other options, you may be considering filing for bankruptcy. Fortunately, Chapter 7 bankruptcy, also known as the liquidation bankruptcy, is far less scary than many clients initially think. To further ease your worries, our experienced Rockland County bankruptcy attorney has compiled a short list of various […]

If you own a business, that business is most likely your pride and joy. There are few greater feelings than having a business that you built, from the ground up, thrive. Unfortunately, things do not always go as planned, and at times, no matter how solid your business is, you may not be generating the […]

One question that many people have as they are going through a divorce is what will happen to their debts as a couple. Of course, this is a major source of concern that some have because no one wants to pay debts that the other party is responsible for. Please continue reading and reach out to […]

Bankruptcy is, in many aspects, a very complicated process. However, with a bit of self-education and the help of an experienced Rockland County bankruptcy attorney on your side, it does not have to be. Below, we have compiled some of the most frequently asked questions relating to bankruptcy in New York State to give you […]

One of the components of filing for bankruptcy is paying the associated filing fee. That being said, there are various scenarios wherein people cannot afford to pay this fee. If you are one of those people, and you are also incapable of paying the fee in installments, you may apply for a waiver of that […]

COVID-19 has impacted nearly every aspect of our lives, which is why we feel it prudent to write a blog regarding the impact of COVID-19 on your bankruptcy case. Below, we have compiled a list of the many ways in which your case may be impacted by the virus. Please continue reading and speak with […]

The new coronavirus has drastically impacted Americans and the world. Unfortunately, those of us living in New York have been hit the hardest. People have been forced to close their businesses, lay off employees, and more. Fortunately, under the new CARES act, many Americans will be receiving relief in the form of stimulus payments. Please […]

The federal stimulus package, which is also called the CARES Act, directs the IRS to send you a stimulus check. Can creditors seize your stimulus checks? Beware that your federal stimulus checks may be seized by the following parties: The IRS for back taxes – If you owe back taxes or an SBA loan, then […]

There are few things more frightening than the prospect of losing your house. If you are in jeopardy of losing your home due to an inability to pay off various debts, read on and reach out to our experienced Rockland County bankruptcy attorney to learn more about the automatic stay and how it can help […]

Because of the coronavirus infiltration, a memo was recently released to court personnel on March 15. In the memo, Chief Administrative Judge Lawrence Marks stated, “Effective 5 p.m. on Monday, March 16, we will be postponing all non-essential functions of the courts until further notice.” Please read on and reach out to our experienced Rockland […]

Though everyone in the United States generally has until April 15 to file their taxes, Treasury Secretary Steve Mnuchin has just announced a 90-day extension. This comes in light of the administration, as well as health officials like the CDC telling individuals to remain inside as much as possible. The 90-day extension comes with no […]

If you are looking to file for bankruptcy, you may have heard of the 341 meeting, or the meeting of creditors. The main purpose of the meeting is so that you, your trustee, your attorney, and your creditors can assess your finances and find a way forward. Unfortunately, in some cases, a creditor may deny […]

If you are someone who is behind on his or her child support payments, you most likely understand how overwhelming this financial burden can be. Fortunately, there may be a way for you to catch up on those payments while keeping your home, car, and other assets that are of great value to you. Please […]

Bankruptcy is a huge life decision, and people oftentimes have reservations about going forward with filing. This is completely understandable, as the stigma associated with bankruptcy, as well as a wealth of misinformation constantly transmitted to the public often work as deterrents. However, the truth is, bankruptcy can actually be an extremely useful tool for […]

For some, bankruptcy is among the most fearsome terms in the English language, primarily because people associate it with having little to no money, as well as a destroyed credit score. While bankruptcy will hurt your credit score, this is nothing to fear–you can still rebound. Bankruptcy in itself is not a bad thing. Millions […]

Student debt is among the most talked-about economic issues of our day. Unfortunately, more and more students find themselves facing astronomical debt by the time they are out of college, only to either not use their degree, or get a job earning a fraction of what their degree is monetarily worth. As time goes by, […]

Many people feel embarrassed to file for bankruptcy. This is unfortunate because our firm understands that people from all walks of life may need to file for various reasons. However, this sense of shame may be further compounded if you now need to file a second or subsequent time. Do not let this feeling prevail. […]

Getting hit with an income tax lien is very frightening. If you find yourself in a situation where you are having problems with your income taxes, please read on and speak with our experienced New York bankruptcy attorney to learn more about how our firm can help you through the legal process going forward: What […]

When dealing with cases of bankruptcy, it is important to know that the law does not treat all debts the same. This is because debtors have different kinds of creditors that they owe money to for a variety of different reasons. It is because of this that debts fall into three categories: secured, general unsecured, […]

Oftentimes, the most important thing to an individual filing for bankruptcy is whether he or she is capable of keeping his or her home. Please read on and speak with an experienced Rockland County bankruptcy attorney to learn more about how to protect yourself from the Homeowners’ Association. What does a Homeowners’ Association do? Your […]

If you are gearing up to file for bankruptcy because you are facing overwhelming debts and can no longer pay your bills, there is a very good chance you are now seeking more information regarding the bankruptcy process. Unfortunately, bankruptcy can be quite complicated, and almost always seems overwhelming at first. However, below, our firm […]

If you find yourself in a situation where you owe money in income tax that you cannot pay off, you should strongly consider filing for bankruptcy. Though the term “bankruptcy” has an overwhelming, frightening connotation, the fact is, it may be just what you need to get back on your feet financially again. What’s more, […]

One of the most concerning times in anyone’s life is when they are considering filing for bankruptcy. While the bankruptcy process is complex, daunting and document-heavy, there are several things you can do to make the experience go as smoothly as possible. While of course, the most important thing you do is hire a knowledgeable […]

The word “bankruptcy” carries a lot of weight. If you are getting ready to file for bankruptcy, there is a good chance you are worried about what the future holds. Fortunately, bankruptcy has significantly improved the lives of many people across the country, virtually granting them a fresh start. However, the whole process can seem […]

The phrase, “bankruptcy” can sound intimidating. Fortunately, with a knowledgeable bankruptcy attorney on your side, you have nothing to worry about. In fact, filing for bankruptcy can be exactly what you need to get back on your feet again. Most questions and concerns about bankruptcy have to do with the assets you are about to […]

If you are a business owner and are facing financial turmoil, do not fear–you may not have to close up shop. While the term “bankruptcy” makes many individuals nervous, it can actually provide you with a way out while still operating the business of which you care so deeply about. If this sounds like something […]

If you are struggling financially, you know how stressful life can be. Fortunately, for many people, filing for bankruptcy is a way out. The word “bankruptcy” can sound intimidating, however, with the help of an experienced bankruptcy attorney, it does not have to be. If you think bankruptcy will provide you with the peace of […]

Students across America pay sky-high fees to attend college and receive higher education. Although our country has some of the most intellectual, innovative universities in the world, students very often find that they are unable to pay off their loans after graduation. If you are someone who owes a significant amount in student loans and […]

Filing for bankruptcy can be an intimidating process. All you want is to keep your assets, like your home or business, but you must first go through this complex and involved process before you can move on with your life. What’s more, the legal jargon associated with bankruptcy can make it feel even more daunting […]

While filing for bankruptcy provides individuals and families all over the country the relief they need to get back on their feet, it does not come without a cost. Primarily, a bankruptcy will affect your overall credit. However, there are several things you can to do rebuild your credit. All you need is some discipline […]

If you are filing for bankruptcy, you must complete several steps before you are officially granted a fresh start. One of those steps is called the meeting of creditors, or a 341 hearing. Essentially, the meeting of creditors is when you, your attorney, your trustee, and creditors analyze and discuss your current financial situation. While […]

If your bank account has been frozen, your personal wages are being garnished, or you are no longer capable of paying off your credit card or medical bills, you are most likely more than ready for financial relief. Thankfully, for many, filing for bankruptcy is just that. However, though bankruptcy can be the “light at […]

If you are considering filing for bankruptcy, you are most likely frightened and worried about what the future holds. Fortunately, bankruptcy is a breath of fresh air for many. Knowing that you can keep your house and essentially start over is all some people need to sleep at night. However, you must do certain things […]

Annual American bankruptcy filings are up by over 4,000 since 2016. A growing number of Americans living in our country’s big cities, such as New York, are in debt and are therefore using bankruptcy to mitigate the effect of their overwhelming debt loads. Fortunately, the problem is not so widespread that it could be considered […]

“Bankruptcy” is a word that frightens many people. It has a stigma attached to it, which leads people to feel ashamed of filing. Unfortunately, this is an unfair stigma, as people have been filing for bankruptcy for a very long time, and in reality, bankruptcy is designed to help individuals get back on their feet […]

Nobody wants to think about what would happen if they had to foreclose on their home. However, if you are in serious debt, there is a good chance this will happen unless you file for bankruptcy. There is an unfair stigma attached to filing for bankruptcy, and the word itself can give some people chills. […]

One of the scariest situations a homeowner can face is a foreclosure on his or her house. Fortunately, if you are in serious debt, you are not hopeless. With the help of an experienced attorney, you can figure out the best way forward, which is very often a far more appealing solution than you may […]

If you believe it is time to file for bankruptcy, you are most likely very worried. However, you do not have to be. For many people, Chapter 13 Bankruptcy provides a sigh of relief, allowing people to restructure their debt and catch up on their mortgage or automobile payments by creating a “Plan.” This plan […]

A Chapter 7 Bankruptcy is a breath of fresh air for many, as it grants you a discharge of most of your debt. This includes personal debt, medical bills, credit card debt, foreclosures, and automobile repossessions. You may also keep certain assets, which is why so many people choose to file for Chapter 7 if […]

No business owner wants to file for bankruptcy. In fact, the thought probably never even occurred when he or she was starting his business. People do not start a business unless they believe in it. Unfortunately, there comes a time for certain businesses where filing for bankruptcy is inevitable. If you believe it is time […]

Filing for bankruptcy is a huge decision. You need to know when it is time to file, because filing at the right time may be exactly what you need to breathe easy again. If you are considering filing for Chapter 7 bankruptcy, here are some of the questions you may have: What is Chapter 7 […]

If people are afraid they may lose their property due to financial difficulties, they may be able to get help. This can be a difficult time for families as they may be unsure of where they can reside. Shelter is necessary for people to stay safe and healthy, especially for children. Instead of accepting defeat, […]

Bankruptcy can be a particularly beneficial process for individuals that are suffering through tough financial times and are unsure of how to fix their financial situation. To learn more about bankruptcy, you should consult a bankruptcy attorney. They can help decide which process is best for you. During this process, they may also be able […]

Bankruptcy can be a useful process for individuals that are suffering through tough financial times. These individuals may be unsure of how their future will work out if their finances are not in order. This can create some stressful times. It may even be more stressful for individuals that have a family to provide for. […]

Bankruptcy can have a bad stigma. However, it can prove to be a beneficial process for individuals and businesses. When finances are running low and in debt, it can be hard to recover. Bankruptcy provides people with the opportunity to reorganize their finances and better prepare them for a successful financial future. If you are […]

By claiming bankruptcy, individuals may be able to rearrange their finances to create a more successful future for themselves. Although filing for bankruptcy can be a scary process, it can prove to be quite beneficial. With the requirements for eligibility, individuals can become more educated about their finances and how to handle transactions in the […]

When individuals are considering bankruptcy, there are two options they should explore. Chapter 7 and Chapter 13 are tools for bankruptcy processes that can be useful for individuals. These options can give people the opportunity to improve their financial situation. Through these options, individuals will be able to prepare a financial plan to help their […]

If your business isn’t doing well and you can’t bear to see it fail, contact an attorney to find out what your options are. You may qualify for Chapter 11 bankruptcy. This can allow your business to continue your day to day operations. With your business still in operation, your employees can keep working as […]

Middle-class families often find themselves struggling financially and are unsure of where to turn. When this happens, it may be a good idea to consider filing for bankruptcy. There is an unfortunate stigma about filing for bankruptcy and people should really consider it as a tool that can be used to get a fresh start. […]

At some point throughout nearly everyone’s life, they struggle financially. When circumstances are out of one’s control, it can feel impossible to keep up with mounting debt. Often, unexpected health issues or legal problems cause a once stable financial situation to become concerning. When this happens, it may be a good idea to consult with […]

One of the things that individuals most look forward to in a bankruptcy is the concept of the automatic stay. The automatic stay requires that all collection methods stop as soon as an individual who is in debt files for bankruptcy. When the automatic stay goes into effect, the creditors are no longer permitted to […]

If an individual is struggling financially, they may feel overwhelmed with the idea of not being able to repay creditors. When an individual is faced with a frozen bank account, garnished wages,  judgments placed by creditors, or simply the complete inability to pay bills, it may be time to seriously think about filing for bankruptcy. […]

When a business is struggling to make ends meet, the business owner will likely be concerned about what the future holds. If a business is faced with mounting debts, the business owner should take bankruptcy into consideration to determine whether it is possible to stay open while reorganizing finances. A chapter 11 business bankruptcy is […]

When an individual files for bankruptcy in New York State, it is important that they take a few precautions in their everyday life as to not have any negative impacts on the outcome of the bankruptcy case. One of the things that an individual needs to be cautious about during bankruptcy is their social media […]

Filing for bankruptcy can be the turning point in one’s financial life. When an individual or a business is struggling financially, they may want to consider filing for bankruptcy in an effort to overcome the significant amount of debt that has accrued over time and allow them to get a fresh start. Bankruptcy is one […]

Immediately and Automatically! Filing a Bankruptcy case will automatically stop a Foreclosure lawsuit, and even a Foreclosure sale of your home.  That is why a Bankruptcy filing is called the Automatic Stay. The Automatic Stay not only stops a Foreclosure in its tracks, it also stops any other creditors such as credit card companies from even […]

Takata, the company behind the largest automotive recall in history filed for bankruptcy last year and has just announced that their bankruptcy plan was approved by a judge. Now, the company will have to sell $1.6 billion in assets in an effort to stay afloat as well as pay compensation to those who have been […]

It is no secret that millions of college graduates are struggling to pay back their student debt. In many cases, when someone is struggling with debt and has no way to pay it back, they can file for bankruptcy. However, this is not the case when it comes to student loans, as debtors can typically […]

Anyone who files for either Chapter 7 or Chapter 13 bankruptcy will have to take part in a meeting of the creditors. This is often also referred to as the Section 341 meeting. Many people have anxiety about this meeting because often times, the creditors they owe money to appear and ask questions. However, with […]

When an individual makes the decision to build their dream home, it is often very exciting. With the decision to make any major purchase or investment such as this, there is also a certain level of risk. Unfortunately, there are some situations where a home buyer pays significant amounts of money to the builder only […]

With the 2017 calendar year behind us and already a few months deep into the 2018 fiscal year, many statistics in regards to businesses are being released. The American Bankruptcy Institute recently released findings that there was a significant increase in the number of commercial bankruptcy filings that took place in 2017. Overall, there were […]

When filing your Bankruptcy case, you must disclose a list of all your assets. This information is to be referenced on Schedules A and B of your bankruptcy petition. After all, if you have a coin collection worth $100,000, you should really sell that in order to pay off at least a percentage of your debt to […]

 When individuals file a Bankruptcy case, they have to pass the “Means Test”.  An experienced Bankruptcy attorney will always fill in the information for the Means Test to ensure that you qualify for a Chapter 7 Bankruptcy filing. The purpose of the Means Test is to determine whether your income qualifies you for a Chapter […]

It is a shame that an American middle-class family feels that it must ride out the fiscal crisis by itself while the largest corporations and wealthiest individuals in America utilize the government laws to their advantage. Reasons why someone may choose bankruptcy Most of my bankruptcy clients are middle-class families with both spouses working, own […]