On the Verge of Bankruptcy?  Here Are Your Options

By Bridget Hillyer

As many of the readers of our blog are aware, we’ve developed a practice representing taxi medallion owners who own “underwater” taxi medallions. An underwater taxi medallion is a medallion valued at less than the bank loan for the medallion.  This blog post is about a successful workout which we negotiated for the owner of an underwater taxi medallion.

Donald Trump is the self-proclaimed “king of debt.” Before becoming president, he built his brand and companies with massive amounts of borrowed money.

Filing for Chapter 13 bankruptcy as a consumer is a voluntary decision. Once a Chapter 13 case has been filed, it is also up to the debtors to dismiss the case if they so choose. Read More ›
Tags: Chapter 13, Did you Know?

It’s a little-known secret — and too infrequently exercised right of a debtor — to “redeem” a car in Chapter 7 bankruptcy, that is, take the car back from the lender at what the car is worth, not what you owe.
Yes, you heard that right: A debtor in Chapter 7 bankruptcy has a right to take his or her car back from the lender at what the car is worth.