Articles Posted in New York Bankruptcy Attorney

Three years after emerging from bankruptcy, the City of Detroit has been released from state financial oversight. Detroit’s bankruptcy was the largest municipal bankruptcy in history. Detroit posted balanced budgets and surpluses for each of the last three years which was a key factor in the decision by Michigan’s Financial Review Commission (FRC) to free…

A new study by the Hutchinson Institute for Cancer Outcomes Research in Seattle has found that even though the may have insurance, those suffering from cancer may face bankruptcy . According to the lead researcher, Scott Ramsey, M.D., Ph.D. Bankruptcy may represent a unique and heretofore unstudied potential source of health disparity. In this study,…

Congress plan to make private student loans dischargeable in bankruptcy In 2015, 13 senators of the 144th Congress (2015-17) co-sponsored the “Fairness for Struggling Students Act of 2015.”, which was the latest in a series of legislative attempts to get the Bill passed. Unfortunately, the Bill died in the previous Congress, which concluded on 3-January…

The Albany Times Union is reporting that the pressures that caused Detroit to go into bankruptcy also exist here in New York State due to “stagnant or shrinking tax base caused by declining population and de-industrialization as well as swelling legacy costs for pensions and health care for retirees.” …the state constitution sets limits on…

Frequently, clients want to know if they can keep their car when they file a bankruptcy. Under chapter 13, generally, a debtor can hold on to all their assets. Retaining assets is only an issue under Chapter 7 Bankruptcy. As stated previously, the law provides a list of “exemptions” that allows a debtor to hold…