Bankruptcy terms and definitions

Bankruptcy terms and definitions Thinking of filing a New York bankruptcy petition?  You need to understand the terms used in bankruptcy proceedings. Below are a list of common bankruptcy terms and their definitions: Assets: These are anything and everything the debtors owns. It may be tangible such as houses, cars, or jewelry.  Assets may also […]

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How does Chapter 7 Bankruptcy Work?

Chapter 7 bankruptcy in New York Definition A Chapter 7 bankruptcy is a court proceeding where a debtor files a petition in a bankruptcy court asking for immediate relief from his creditors and from his debts.  It is also referred to as a liquidation bankruptcy.  At the end of a Chapter 7 proceeding, the debtor […]

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Who is required to file a New York Income Tax Return

  The general rule The general rule is if you are required under federal law to file an income tax return, you are also required to file aNew York income tax return. To know whether you are required to file a federal income tax return, you may need to speak to a New York Tax Attorney.   Benefits of filing a return even when not […]

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Texting while driving in New York

April 14, 2014  |   Posted by :   |   Uncategorized   |   Comments Off

What is texting while driving? Using a cell phone or any hand-held mobile device to send a text message, email or make a phone call while operating a motor vehicle is a  misdemeanor and if you are caught, you will be issued a traffic ticket. It carries a penalty of a fine, a surcharge and […]

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Filing & Preparing A Bankruptcy Petition

Filing a New York bankruptcy petition If you are unable to pay your debts because you lack funds with which to pay them and you have no properties that you can turn into cash to use to pay your debts, then filing a New York bankruptcy petition may be your best option to deal with […]

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