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May 8, 2020 | by Michael H. Schwartz, P.C.

Is Filing for Bankruptcy the Right Response to Coronavirus Financial Stress?

Store closing due to covid19.

The Coronavirus pandemic has disrupted the lives of millions of New Yorkers. More than 325,000 people have confirmed cases of Covid-19 and more infections are diagnosed every day. While most people will recover, some will be left with overwhelming hospital …

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April 29, 2020 | by Michael H. Schwartz, P.C.

The New York State Bankruptcy Process

Businessman writing a petition to file for bankruptcy.

Many people fear the thought of bankruptcy and the ramifications it brings, including losing their homes and causing credit hardships in the future. However, for many people, bankruptcy is not as crushing as it seems and it brings financial relief …

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December 10, 2019 | by Michael H. Schwartz, P.C.

How Do You Rebuild Your Credit After a Bankruptcy?

Man reading his credit score on a tab.

After you file a Chapter 7 or Chapter 13 bankruptcy, you will want to rebuild your credit. It won’t be a sprint. Get ready for a long run – a 5K for some, more of a 10K or marathon for …

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November 26, 2019 | by Michael H. Schwartz, P.C.

Can You File for Chapter 7 Bankruptcy in New York Without Losing Your Home and Car?

Bankruptcy lawyer sitting at desk.

People who are considering whether to file for Chapter 7 bankruptcy tend to fall into two camps. In one camp, we have those who fear that they will automatically lose their home and car during the bankruptcy process. In the …

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July 22, 2019 | by Michael H. Schwartz, P.C.

Study: Two-Thirds of Bankruptcy Filings Are Due to Medical Issues

Man computing for medical bills.

Medical issues contribute to roughly two-thirds of the country’s bankruptcy filings each year, according to a recently released study. In the view of one of the study’s authors, a lack of adequate health care insurance likely contributes to the majority …

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May 14, 2019 | by Michael H. Schwartz, P.C.

FICO Plans Big Shift in Credit-Score Calculations

Businessman checking on credit score on his laptop.

The Fair Isaac Corporation, the company that developed the FICO score, is rolling out a new credit score this year called “UltraFICO.” Experian, one of the three major credit reporting agencies, will distribute the credit score, according to USA Today. …

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March 7, 2019 | by Michael H. Schwartz, P.C.

Eight Retailers That Could Go Bankrupt in 2019

Retail store closing due to bankruptcy.

What do Radio Shack, Toys “R” Us, and Circuit City all have in common? They all failed to keep pace in a high-tech consumer marketplace and recently went out of business. In 2019, several other major retailers are on the …

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January 18, 2019 | by Michael H. Schwartz, P.C.

How Do I File for Chapter 13 Bankruptcy in New York?

Worried man consulting his bankruptcy attorney.

Call us first!  Michael H. Schwartz has been successfully helping people throughout Westchester County, Rockland County, Putnam County, the Hudson Valley and New York City area file for Chapter 13 bankruptcy protection for more than 40 years.  We are second …

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December 3, 2018 | by Michael H. Schwartz, P.C.

10 Years After 2008 We Still Borrow More Than We Save

Woman holding her passbook is stressed over her unpaid debts.

In 2008, the housing market collapsed. The Great Recession began as this collapse created a tsunami effect throughout the entire American economy. In an eerie and very similar parallel to what happened in the 1920s that caused the stock market …

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November 2, 2018 | by Michael H. Schwartz, P.C.

Number of Older Americans Filing for Bankruptcy Has Tripled Since 1991

Sad old man filing for bankruptcy.

Bankruptcy rates have tripled among older Americans since the early 1990s, according to a recent article in the New York Times. The number of people age 65 and over who are filing for bankruptcy has tripled since 1991. From February …

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