Monthly Archives: November 2018

Secured debts and unsecured debts differ because a secured debt is attached to an asset like a car or a home, while unsecured debt is not associated with a physical debt. Examples of unsecured debt include credit card bills and medical bills. If a debtor does not pay a secured debt, the lender can repossess… Read more »

A Chapter 7 bankruptcy allows debtors to get a financial fresh start by discharging their unsecured debts. Secured debts such as a mortgage or car loan cannot be discharged by a Chapter 7 bankruptcy. When a debtor files bankruptcy, their property goes into an estate and must be sold unless it qualifies for an exemption…. Read more »

Creditors in NY In regards to debt, you can owe money to secured and unsecured creditors. Secured creditors have the right to seize your property. An unsecured creditor can file a case and get a judgment against you. Claims for child support take precedence over the payment of all other debts. In NY, the skilled… Read more »

Divorce is hard. It can cause tremendous emotional and mental hardship. It is especially difficult if your finances are also strained. In fact, finances may be one of the driving factors of the divorce. You may even be in a financial situation that is untenable. If you have reached the end of the line in… Read more »