Posts by Michelle Labayen
What Happens to My Co-Signers if I File Bankruptcy?
If you used a co-signer to secure a mortgage, lease, car loan, or student loan, then you’re right to have some concerns over how bankruptcy will impact them. While it is possible to get through the entire bankruptcy process without hurting your cosigner at all, there are moves you can make to their detriment. Understand:…
Read MoreWhat Happens to Liens in a NY Bankruptcy?
Mortgages may disappear after your bankruptcy discharge, but liens stick unless your lawyer can make a case for removing them. Fortunately, there are established mechanisms in place which allow us to do just that. Your loans just have to meet some specific conditions to allow it. And you have to file the right type of…
Read MoreDon’t Pay Debt Collectors: Here’s 4 Reasons Why
There’s nobody more persistent than a debt collector. If you let them, they will call your phone over and over again and badger you into making payments. They may browbeat you with morality, imply dire consequences, or simply assume that you’re ready to pay them. If you tell them you don’t have any money, they’ll…
Read More7 Mistakes to Avoid When Filing for Bankruptcy
Bankruptcy is a complicated legal matter. There are many pitfalls. Running afoul of one of these pitfalls can cost you. In some cases, these mistakes may mean losing assets you could have kept. Others may mean you receive a case dismissal, instead of a discharge. I n the most severe cases, bankruptcy mistakes like the…
Read MoreYes, You Can Get Credit After Your NY Bankruptcy
If you’re afraid to file bankruptcy, you’re not alone. Most of the people we talk to say they’re scared they’ll never be able to get credit again. And they say it because they’re aware that it’s very difficult to function without credit in our society. Fortunately, we don’t have to hesitate when we say that…
Read MoreIs There New Hope for Student Borrowers in NYC?
Student loans have been a sticky problem for borrowers for a long time. And even though the Law Offices of Michelle Labayan have been helping people with their loans for some time, our abilities to help you get your loan discharged through bankruptcy have always been limited. In the past, it was all about proving…
Read MoreWhy You Should Not File Your NYC Bankruptcy Pro Se
One of the biggest fears clients in NYC have about filing for bankruptcy is the cost of the bankruptcy lawyer. It’s easy to see why a lot of people are tempted by Internet sites that try to make it seem like filing is as easy as printing out a form. But hiring a bankruptcy lawyer…
Read MoreWhat You Should Know About Being Sued for Debts in New York
Being sued over a debt is frightening and stressful. And many New Yorkers are extremely uncertain of what their rights are, or of what they can expect when the lawsuit is done. Here are four things you need to know so you can navigate this situation appropriately. Avoid paying old debts. The first thing…
Read More8 Myths About Bankruptcy in NYC
Bankruptcy is probably one of the three most common legal procedures an NYC resident will ever go through. The other two are divorce, and estate matters. It’s also one of the most misunderstood legal proceedings. Myths abound, and those myths can get people into a lot of trouble. The way you handle your finances before…
Read More7 Great Questions to Ask During Your Free Consultation
This isn’t a post about choosing the right bankruptcy lawyer. But here in New York City, most bankruptcy firms do offer some manner of free consultation. It’s a chance to review your case. It’s also a chance for you and the lawyer to find out if you’ll be comfortable working together. But if you don’t…
Read MorePriority? What Does It Mean for Bankruptcy in NYC?
Throughout the proceedings for bankruptcy in NYC, you’ll hear lawyers and trustees refer to priority claims and taxes. It is apparent from these conversations and occasionally debates, that the determination of priority versus non-priority is important for the court and creditors. In fact, the trustee taking your case could spend substantial time reviewing your finances…
Read More4 Reasons to Consider NYC Bankruptcy in the New Year
It’s already 2019 and if you are wondering how the 12 months of 2018 passed so quickly, you are not alone. Yet, there are many people in NYC that are glad to see 2018 in the rearview mirror. If one of the reasons you aren’t sad to see 2018 go is because of complicated financial…
Read MoreHow Do You Pay for Your New York Bankruptcy?
Are you considering New York bankruptcy, but uncertain how you can pay for court fees and a New York bankruptcy lawyer? At the Law Offices of Michelle Labayen, we understandably receive a lot of questions about payment plans, court costs, and general expenses related to filing for Chapter 7 or Chapter 13 bankruptcy. So many…
Read MoreWhere to Begin When Filing Chapter 7 Bankruptcy in New York?
You don’t simply wake up one morning and file for Chapter 7 bankruptcy – at least, you shouldn’t. First, there are explicit requirements in place by the federal bankruptcy laws that must be met before you are permitted to file under Chapter 7 of the Bankruptcy Act. Second, bankruptcy isn’t the best course of action…
Read More5 Signs You Should Be Thinking About Filing for Bankruptcy
Bankruptcy isn’t the right choice for everyone. Often, credit card debt and medical bills are temporary debts that will be repaid and forgotten in a matter of months. These debts might be stressful, but they aren’t overwhelming. In these cases, filing for bankruptcy isn’t necessary or appropriate to solve your financial circumstances. Yet, there are…
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