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May 2016 Archives

New York-based supermarket moves forward with Chapter 11

Any business owner operating in New York understands the risks involved with expansion and debt. In some cases, the circumstances of what is owed and when will make it necessary to consider filing for bankruptcy. With a business bankruptcy, it is not the same as a bankruptcy in which an individual is trying to clear debt. Most businesses will be able to use debt negotiators to complete a business reorganization to get back on stronger ground. Understanding the value of this is key to keeping a business afloat in trying times.

What is the relationship between tax debt and Chapter 7?

Last week this blog discussed the extremely narrow circumstances in which a debtor in Long Island could seek to have his or her student loans discharged through bankruptcy. Today we are going to look at tax debt. Can tax debt ever be discharged through Chapter 7 bankruptcy?

Can student loan debt be discharged through bankruptcy?

Student loan debt is a hot issue in today's news, with some saying it has reached crisis levels. Many college graduates in Long Island needed to take tens of thousands of dollars out in student loans to fund their education, but they may find that upon graduation they were unable to find employment that paid enough to allow them to pay back their loans.

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