Category Archives: Bankruptcy
Could the COVID-19 Pandemic Lead to the End of Medical Bankruptcy?
In the middle of an election year where healthcare is already a hotly debated issue, the COVID-19 pandemic has stirred further discussion about whether major changes are necessary. During the Democratic presidential primary, the concept of Medicare for All split the candidates. While the candidate who promoted that concept has since dropped out of the […]
Three Tactics to Avoid Financial Devastation from Healthcare Costs
It is fairly well understood that medical costs — such as a two-day emergency hospitalization that comes with a bill of more than $100,000 — are a primary cause of bankruptcy in America. Changes in health insurance plans under the Patient Protection and Affordable Care Act are in the works. But deductibles and copays, costs […]
Bankruptcy as an Answer to Inadequate Insurance Coverage During Hurricane Sandy
The water had barely subsided after Hurricane Sandy struck in 2012 when financial worries began to mount. Many families lost their homes and life savings to the wind, rain and storm surge. Adding insult to injury, many of those affected had property insurance that proved inadequate. One homeowner in New Jersey posted a sign in […]
Are You the One in Five People Whose Medical Bills Might Lead to Bankruptcy?
With an estimated 20 to 30 million more Americans likely to get health insurance under the Affordable Care Act or “Obamacare” launching in full in 2014, medical economists caution that financial problems because of healthcare are not going to disappear, even if they are lessened. Copays and deductibles under legitimate insurance plans can still add […]
Technical and Emotional Preparation for the 341 Bankruptcy Meeting of Creditors
No one plans far in advance to file for bankruptcy. But whether it is a Chapter 7 filing liquidation of assets (minus the generous exemptions allowed under New York bankruptcy law) or reorganization under Chapter 13, a bankruptcy can be the solution to financial problems that build over time. Many bankruptcies, however, do come from […]
What Can You Keep When You File Bankruptcy?
For many people unable to pay their bills, bankruptcy is the only reasonable option to restore some kind of financial stability. Most people worry about the possessions they will lose in the process. When you file bankruptcy, what can you keep? The answer is more than you think, depending on the type of bankruptcy you […]
Should You Consider Bankruptcy?
If your finances are too tight and you cannot regularly pay your bills, it is time to take stock of your real financial picture. Recognizing signs of serious insolvency can help you make the decision to move forward with bankruptcy or another option. Some people look at bankruptcy as a reflection of personal, instead of […]
Post-Sandy: Can a Chapter 7 Bankruptcy be My Best Option?
What might climate change and a Brooklyn Chapter 7 attorney have in common? Plenty, given how major storms can be the event that pushes people and companies financially over the edge. According to research compiled on storms of $1 billion or more in damage between 1980 and 2004 (University of Illinois College of Law, Robert […]
What are the Advantages of Chapter 11 Bankruptcy?
The national trends for bankruptcy filings are good, in that the total number of individuals and businesses filing for either Chapter 7 or Chapter 11 nationwide are down. However, a qualified Brooklyn Chapter 11 bankruptcy attorney encounters plenty of companies and families who are still suffering from the effects of the recession and Hurricane Sandy. […]
Addressing the Misconceptions of Bankruptcy
Brooklyn, NY—in 1980, after taking a bankruptcy law course, Gregory Messer switched gears and became a bankruptcy attorney, and has never looked back. Becoming a bankruptcy lawyer was unexpected for Gregory Messer, one of Brooklyn’s most credentialed attorneys working to help consumers and businesses resolve their debts. At the time when Messer took his course, […]
