NYC Bankruptcy Blog

April 17, 2013

Why Are Bankruptcy Filings Down? The Economy is So Bad People Can’t Even Afford to File Bankruptcy

Bankruptcy filings are down 30% over the last three years according to Bankruptcy Court statistics.  Why?  Because the economy is getting better?  Not by a long shot.  Things are simply so bad that financially struggling individuals don’t have the money to file bankruptcy. If you can barely afford to pay for food and rent, how can […]
April 16, 2013

Is it too late to file bankruptcy in New York if I already have a judgment against me?

People often ask me if it is too late to file bankruptcy if there is already a judgment against him or her. The answer is NO. Bankruptcy Court is a federal court.  The Bankruptcy Court and the Bankruptcy Law overrides the state court, including Civil Courts in New York City, Brooklyn, Bronx and Queens, and can […]
April 12, 2013

Can I file bankruptcy if I have filed before?

The answer is yes depending on how many years have passed since the last bankruptcy. You can file Chapter 7 bankruptcy again if it has been eight (8) years since the last filing. Over the past 28 years, I have filed tens of thousands of bankruptcies for New York and New Jersey residents. Times are especially […]
March 8, 2013

Can I file bankruptcy on my student loans?

There is more student loan debt out there today than auto loan debt or credit card debt.  According to a recent report from the Federal Reserve Bank of New York, student loan debt has increased to a striking figure of $956 billion.  Unfortunately, the vast majority of people cannot file bankruptcy on student loans.  This applies […]
March 4, 2013

Bankruptcy Can Help With PayDay Loans That Ripoff Consumers

Payday loans are a trap that catches many struggling consumers.  Thankfully, many consumers can protect themselves with Chapter 7 bankruptcy and erase these debts. On February 27, 2013, the New York Times wrote an article on the dangers of payday loans.  They reported that: “People use payday loans to avoid borrowing from family and friends, and […]
February 26, 2013

Can I keep a credit card if I file bankruptcy?

One of the questions I am asked most often is: Can I keep a credit card if I file bankruptcy?  Many people can’t imagine living without at least one credit card. The answer to the question is:  No, you can not keep credit card debt off your bankruptcy.  The Bankruptcy Code requires that all creditors be […]
February 1, 2013

Before Bankruptcy: Can I be arrested if I ignore a summons from a credit card company?

People often ask me if they can be arrested if they ignore a summons from a credit card company.   In New York, the answer to this question is no.  In New Jersey, the answer is yes in some cases, but it can easily be avoided. This is a good question.  The Wall Street Journal found that over […]
January 30, 2013

After a New York Bankruptcy – Myth #1: Bankruptcy Destroys Your Credit for 7 to 10 Years

For twenty-eight years, I have had to explain to my clients that this is a myth.  You should be able to recover a good credit score in about two to three years.  I even see people get mortgages three years later. Believe it or not, right after the bankruptcy, credit card companies send people new credit […]
November 24, 2012

A Matter of Interest

Charles Juntikka on CBS Morning News A Matter of Interest 12/26/2004
November 24, 2012

Credit Cards: The New Loan Sharks

Charles Juntikka on CBS News Credit Cards: The New Loan Sharks 5/10/1999