If you have past-due tax debt that you owe to the Internal Revenue Service (IRS), New York State Department of Taxation & Finance (NYS Tax), and/or New York City Department of Taxation (NYC Tax) you know that the government authorities can be very aggressive in enforcing back due taxes. 1.…
As a result of the current economic conditions many business owners in New York City have decided that they will need to shut down their businesses. They are faced with the decision of how to best do this. Essentially, the options are to liquidate the business in chapter 7 bankruptcy,…
The purpose of this blog post is to provide information about bankruptcy to the gay and lesbian community in New York City that uniquely affects them. As a result of the 2005 changes to the Bankruptcy Code, for gays and lesbians considering filing for personal bankruptcy there are certain things…
Student Loans Problems in New York City Many people in New York, and particularly in Manhattan, have large student loans for undergraduate and graduate college education. A student loan debtor (person who owes money for a student loan) can often obtain deferment or consolidation of his or her student loans…
People are often scared about what will happen to their car if they file bankruptcy and whether they will lose their car. This is question we get asked very often by clients in the Staten Island, Brooklyn, Queens, Westchester and Long Island. In a prior post ( What Happens to…
People are concerned about what will happen to their car if they file bankruptcy. Clients in the Bronx, Queens, Brooklyn, Long Island and Westchester ask us this all the time. In a prior post ( What Happens to My Car in Bankruptcy ) we covered what happens if the car…
This is a very common question we get from clients and prospective clients in Brooklyn, Queens, Staten Island and Westchester (car ownership seems to be lower among our Manhattan clients). The answer, like many things, involving the law, is that “that depends”. Is the car paid for, being financed, or…
A recent article on MSNBC (NYC restaurants slammed by financial crisis) details the problems currently faced by NYC restaurants. NYC restaurant owners are reporting a significant drop in business in wake of the recent financial crisis. They also have some of the highest rent in the country for space, and…
We often receive inquiries from people living in New York, Queens, Bronx, and Brooklyn that a collector or collection agency has frozen their bank account, and wondering what they should do. Collectors and collection agencies can’t freeze bank accounts. They have only two tools in their tool belts: letters and…
A common question I get asked by people from the Bronx, Queens, Staten Island, Brooklyn and Manhattan considering filing for personal bankruptcy is whether they should file chapter 7 or chapter 13. Chapter 13 bankruptcy is typically used to preserve a valuable asset, such as a house, car, or rental…