Bankruptcy Law

Kanzer Law COVID-19 Virus Updates

Tuesday, March 24th, 2020

Please be advised that New York has temporarily suspended debt collection  only for money owed to the State . New Yorkers who owe money to the state, effective immediately, will no longer have to pay their student debt, medical debt, and other forms of state-referred debt, for at least 30 days because of the COVD-19...  read more

Household Debt Tops $14 Trillion as Mortgage Originations Reach Highest Volume Since 2005

Tuesday, March 17th, 2020

NEW YORK – The Federal Reserve Bank of New York’s Center for Microeconomic Data today issued its Quarterly Report on Household Debt and Credit, which shows that total household debt increased by $193 billion (1.4%) to $14.15 trillion in the fourth quarter of 2019. This marks the 22nd consecutive quarter with an increase, and the...  read more

Coronavirus Will Bankrupt More People than it Kills

Tuesday, March 17th, 2020

Coronavirus’s economic danger is exponentially greater than its health risks to the public. If the virus does directly affect your life, it is most likely to be through stopping you going to work, forcing your employer to make you redundant, or bankrupting your business.   The trillions of dollars wiped from financial markets this week...  read more

I’m Not Behind on Any Bills – Do I Still Quality for Bankruptcy?

Saturday, February 15th, 2020

There are many myths surrounding the bankruptcy process and who is qualified to file for bankruptcy. Most people assume that you have to be behind on bills, facing foreclosure on your home, or having your vehicle repossessed before you can turn to bankruptcy for financial relief and assistance. However, this isn’t the case. Anyone can...  read more

Can I File for Bankruptcy without My Spouse?

Monday, December 30th, 2019

If you’re thinking about filing for bankruptcy, one of the first things that you need to decide is whether you’re going to do so as an individual or whether you and your spouse are going to file together. You can file for bankruptcy on your own even if you are married, but you do want...  read more

Which Is Better: Chapter 7 Bankruptcy or Chapter 13?

Saturday, November 30th, 2019

If you’ve decided you need to file for bankruptcy, you may wonder which option is better, Chapter 7 or Chapter 13. One option isn’t better than the other. In fact, both can be excellent options in certain situations. It all comes down to your personal situation and what you need out of your bankruptcy. In...  read more

Can I Cancel My Bankruptcy?

Friday, November 15th, 2019

If you’ve filed for bankruptcy, but later get a better paying job or decide that it’s not the solution you thought it was, can you cancel it? Bankruptcy is a court process, and it does take time. During that time, your financial situation can change. Fortunately, in some cases, it is possible to cancel your...  read more

How Does Business Bankruptcy Differ from Personal Bankruptcy?

Tuesday, October 15th, 2019

If your business is suffering, you may be considering filing for bankruptcy. While business bankruptcy and personal bankruptcy both serve as a way of reducing, restructuring, or eliminating debt to make it easier to become financially stable, the two processes are slightly different. Here are a few of the key differences between personal and business...  read more

What Is the Bankruptcy Means Test?

Monday, September 30th, 2019

If you’re thinking about bankruptcy, one of the things you need to know about and understand is the bankruptcy means test. This is the test that determines if you are eligible for Chapter 7 bankruptcy. If you are, then you can have some of your debt forgiven. If you are not, you have to file...  read more

Understanding Bankruptcy Fraud

Thursday, August 15th, 2019

Filing for bankruptcy can be a good option for a number of people, but the process only truly works if you’re completely honest about your financial situation and your assets. If you’re not, you’re committing bankruptcy fraud, and that can lead to a number of large fines or even jail time. But what is bankruptcy...  read more

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