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August 2016 Archives

Personal bankruptcy: One size does not fit all

Bankruptcy is a legal process enabling individuals or businesses either to get rid of or to repay debt. If you are struggling with burdensome debt and considering bankruptcy, it's important to become familiar with the bankruptcy process starting with the two most common forms of bankruptcy available to individuals: Chapter 7 and Chapter 13 bankruptcy.

Looking at discharge in Chapter 7 and Chapter 13 bankruptcy

In our last couple posts, we've been looking at some of the basic features of Chapter 7 and Chapter 13 bankruptcy, focusing particularly on financial eligibility requirements and the general process by which these forms of personal bankruptcy work.

What is the difference between Chapter 7 and Chapter 13 bankruptcy? P.2

Previously, we began looking at some of the basics of Chapter 13 bankruptcy, including generally how the process works and some of the eligibility requirements. Chapter 7 bankruptcy is different than Chapter 13 in that it involves the liquidation of assets in order to pay off creditors as opposed to a repayment plan. The bankruptcy trustee in a Chapter 7 filing is responsible for gathering and selling nonexempt assets, whereas the bankruptcy trustee in Chapter 13 cases is responsible for collecting payments and distributing them to creditors.

What NYC landlords should know about the state's proposal to curb Airbnb

Airbnb is an online marketplace that allows tenants, condominium owners and homeowners alike to rent out their homes for a short period of time. Some use the service wisely, while others take advantage of the platform to run illegal hotels.

Negotiating an enforceable prenup

In our last post we looked at possible uses for a prenuptial agreement. As we noted, every couple has their own circumstances to consider. Aside from certain limitations, prenups are quite versatile and can be used for a variety of purposes.

Prenuptial agreements: a versatile tool for protecting your assets

While a couple does not ordinarily plan a wedding with the expectation they will one day divorce, there is something to be said for being prepared for the possibility. Divorce can result in a significant loss of assets-and the assumption of significant debt-for those who fail to plan. One of the tools individuals can use to protect themselves is a prenuptial agreement.

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