Chapter 13 Bankruptcy
Are you looking for a way to manage or reduce your debt as efficiently as possible? Chapter 13 of the United States Bankruptcy Code provides a legal solution for those who do not qualify for Chapter 7 or who have sizable assets they wish to retain. If you earn a steady income or want to protect valuable assets, this type of bankruptcy plan may be right for you.
Chapter 11 Bankruptcy
Chapter 11 bankruptcy is a debt reorganization process that is most often used by businesses that want to continue doing business and repay its debts at the same time. In addition, it benefits individuals who don’t qualify for other chapters or need certain protections Chapter 11 offers. Overall, Chapter 11 is more expensive and complex than other types of bankruptcy, but it can offer significant advantages if you qualify.
Have you been served a notice that your home or business will be subject to foreclosure proceedings in or around White Plains? For most people, their biggest investment is their home and/or business. Losing your home can be a devastating blow that can take years to overcome, especially because of the negative impact that a foreclosure will have on your credit score.
Student Loan Debt Dischargeability
In Homaidan v. Sallie Mae, Inc. (In re Homaidan), 2021 U.S. App. LEXIS 20934, 2021 WL 2964217, (2d Cir. July 15, 2021), the Second Circuit Court of Appeals upheld the U.S. Bankruptcy Court, EDNY’s decision to allow a private student loan to be discharged because the private loans did not constitute an obligation to repay funds received as an “educational benefit.”