When filing for bankruptcy, it’s normal to feel uncertain about what comes next. For many individuals and families in the Hudson Valley, bankruptcy can offer a structured way to regain financial stability. Understanding how the process works and which option fits your situation can help you make informed decisions and move forward with confidence.

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On Thursday, November 17, 2022, the Justice Department announced new guidelines in coordination with the Department of Education, which may significantly help debtors discharge student loans in bankruptcy. The new guidance aims to make it easier to have federal student loan debt discharged in bankruptcy – a particularly difficult legal process under the previous policy. The move represents the most substantial shift by the federal government on the discharge issue in decades. Read on to learn what these changes to student loans in bankruptcy may mean for you.
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If you’re contemplating filing for bankruptcy, there are some essential do’s and don’ts to be aware of. With nearly 20 years as a bankruptcy law firm, we have key insights on the best steps to take.  Here is what we recommend when it comes to preparing for bankruptcy.

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There are many myths which hold that it takes anywhere from 3-5 years to reestablish credit after discharging debt under Ch. 7 of the bankruptcy code. These same myths hold that you won’t be able to purchase a new car or house, and that credit card companies will not find you credit worthy for several years.  While this myth may hold true in some very rare circumstances, it is generally a false statement that should be ignored by most consumers. [Read more…]