There are several things that you should not do if you are considering filing for bankruptcy under either Chapter 7 or Chapter 13.  One of the things that people do which is a prohibited act is repaying a family member or a friend within a year of filing for bankruptcy.  This is known as a+ Read MoreThe post Is there anyt

Bringing you the most up-to-date news, tips and blogs throughout the web. Here’s your Bankruptcy Update for August 22, 2013 Judge approves Kodak’s bankruptcy plan Time to Bring Bankruptcy Back for Student Loan Debt Bankruptcy Name Game

It is common for people to have outstanding debt and while the amount owed varies, many may not be aware of how close they are to having their creditor take legal action against them.  For a number of debtors, legal action from a creditor comes at a time they least expect it.  This reason alone [...]

Here at Shenwick & Associates, we are seeing a significant uptick in reviewing and negotiating commercial leases. For those who have never leased commercial office space in Manhattan, you need to be aware that the market and leasing terms are unlike any other commercial real estate market in America. Here are seven provisions that all commercial tenants should request when negotiating an office lease in Manhattan. Failing to consider these points can cost a tenant a significant amount of money and aggravation.

Chapter 13 bankruptcy can help you in a ton of ways if you are struggling financially.  The first way that Chapter 13 can help you is to save your house.  If you have fallen behind on your mortgage payments because of the loss of job or illness or just unexpected expenses, you can put what+ Read MoreThe post How Can Chapter 13 Bankruptcy Help? appeared first on

Chapter 7 bankruptcy is remarkably powerful – and incredibly fast.
I’ve always said that it takes longer to decide to file for Chapter 7 bankruptcy than for the case to go through the court system.

Chapter 7 bankruptcy can help eliminate or wipe out debt obligations for qualifying debtors.  When debt is eliminated it is known as a discharge. When this happens, many people think their case is finished.  Well, not quite.  While getting debt discharged is the primary goal for most filers, this isn’t the actual end of the [...]

A Wisconsin 128 debt amortization plan can be a great alternative to bankruptcy. Unlike a Chapter 7 bankruptcy, a chapter 128 provides fast and effective relief without the hassle of a means test or liquidation of your assets.
Advantages Over Bankruptcy:
1. Less Expensive.
2. Unlike bankruptcy, all debts do not have to be included in your 128 plan.
3. No assets or property are put in jeopardy.
4. Can file more than once.
5. Can file after bankruptcy.
6. Alternative to bankruptcy if you do not qualify under the new bankruptcy code.

Once you have made the decision to file for bankruptcy you are likely to start hearing terms and phrases that you are not familiar with and that may be a bit confusing, but that are incredibly important to the administration of your case. Understanding these terms is key to being an active participant in your bankruptcy case rather than just sitting by and hoping that it goes well. By discussing these terms with a bankruptcy lawyer, clients will likely find themselves feeling more informed and confident regarding their decision to file for bankruptcy.

At Second Chance Legal Services we often get the question: Can I keep my 401k if I file for bankruptcy protection?  The answer to that question is fairly straight forward.  As long as your 401k is a legitimate retirement plan that follows all IRS rules (most plans are extremely interested in compliance) your 401k is fully protected in bo