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August 2015 Archives

Advice is available regarding Chapter 7 bankruptcy

Long Island residents dealing with significant debt can often feel like there are no options to help them get out of their situation. Many forms of debt relief may be available to them, but selecting the best alternative can be difficult. One form of debt relief that may be available to individuals is filing for Chapter 7 bankruptcy.

How does the CARD Act help credit card holders?

One of the most common ways for Long Island, New York, residents to get into debt is by overusing or overextending themselves with credit cards. In an effort to help consumers avoid or ease these potential problems, as well as prevent card companies from abusing card holders, in 2009 Congress enacted the Credit Card Accountability Responsibility and Disclosure Act, also referred to as the CARD Act. Consumers unfamiliar with the law may wonder how it protects them and what rights they are granted under the CARD Act.

Judge blocks consumer claims existing prior to bankruptcy

Businesses in the United States, even traditionally profitable companies, may fall on financial hardships from time to time. There are various options available to such a business, but if their debt burden is too significant, they may consider bankruptcy. It is important for the business, and its creditors, to understand the consequences of such an action.

Advantages and disadvantages of filing for Chapter 7 bankruptcy

Residents of Long Island, New York, who are facing considerable debt, regardless of the source, may need to begin reviewing debt relief options. Although there are many options available, one of the most common options is bankruptcy. The decision to file for bankruptcy, however, should not be taken lightly. There are advantages and disadvantages involved, and there are multiple forms of bankruptcy to consider.

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