Bankruptcy Law

Bankruptcy law New York is primarily comprised of the federal statutory law contained in Title 11 of the United States Code. One of the primary goals of the bankruptcy laws are to provide debtors with financial difficulty an opportunity for a fresh start.

In furtherance of this goal, bankruptcy law New York provides for the development of a bankruptcy plan that allows a debtor to resolve his debts through the division of his assets among his creditors. This court supervised division provides an orderly manner for the debtors non-exempt assets to be dispersed among the creditors with some measure of equality. It also also provides the debtor with assurance that when the bankruptcy is discharged they will have a fresh start free from the financial obligations incurred previous to the bankruptcy.

The form of the bankruptcy plan will depend on whether the debtor files a chapter 7 bankruptcy or a chapter 13 bankruptcy. A chapter 7 bankruptcy is a complete liquidation where all the debtors non-exempt assets are distributed to creditors and the debtor emerges in a relatively shorts time, usually under six months, free of the unsecured debts discharged through the bankruptcy. A chapter 13 bankruptcy New York is a reorganization where the debtor forms a plan that lasts from three to five years during which they make regular payments to bankruptcy court and pay down a portion of their total unsecured debt. As the end of this three to five year period the bankruptcy and all remaining unsecured debt is discharged.

Personal Bankruptcy

Chapter 7 and Chapter 13 are the two main chapters under which individuals can file personal bankruptcy New York. Chapter 7 bankruptcy is a liquidation of assets while Chapter 13 bankruptcy is a reorganization where the debtor creates a three to five year payment plan.

The primary reasons for filing personal bankruptcy New York are unforeseen medical expenses, excessive credit card debt, loss of employment, and divorce. Needless to say many of these events create not only financial difficulty but also a tremendous amount of disruption and distress in and of themselves. This makes it especially important that individuals consider all available options and bankruptcy alternatives to make sure whatever action they settle upon is in their long term interest.

If one determines that personal bankruptcy New York is the best option available then one should learn more about the federal bankruptcy law. Bankruptcy is a important decision and the law and it application to one's particular situation can be very complicated. It is generally recommend that one consult with an attorney with experience in the personal bankruptcy field. If one feels comfortable with attempting the bankruptcy process without an attorney there are online bankruptcy services that can be of assistance. It is also possible to proceed by completing the bankruptcy forms on one's own but this could be very confusing and one should proceed with caution.

The Truth About Bankruptcy

Myth: I'll just file bankruptcy and start over; it seems so easy.
Truth: Bankruptcy is a gut-wrenching, life-changing event that causes lifelong damage.

Bankruptcy.

That word sends chills up the spine. If you're facing the prospect of bankruptcy law New York or in the middle of it right now, you know it's a living nightmare. It can devastate your job, destroy your marriage and steal your peace of mind.

Kathy was ready to file bankruptcy. Her debts were overwhelming, and her cheating husband had left with his girlfriend. The house was in his name, as was all the debt except $11,000. Kathy was 20 years old, and her brilliant uncle—a lawyer from California—told her to file bankruptcy. Kathy was beat up, beat down, and deserted without help, but she was not bankrupt. When her soon-to-be ex-husband ends up with all the debt in his name, he may be bankrupt, but Kathy won't be.

Why Avoid Bankruptcy New York?
Bankruptcy is not something I recommend any more than I would recommend divorce. Are there times when good people see no way out and file bankruptcy? Yes, but I will still talk you out of bankruptcy if given the opportunity. Few people who have been through bankruptcy would report that it is a painless wiping-clean of the slate, after which you merrily trot off into your future to start fresh.

Don't let anyone fool you. I have been through bankruptcy and have worked with bankruptcy for decades, and it is not a place you want to visit. Bankruptcy law New York is listed in the top five life-altering negative events that we can go through, along with divorce, severe illness, disability, and loss of a loved one. I would never say that bankruptcy is as bad as losing a loved one, but it is life-altering and leaves deep wounds both to the psyche and the credit report.

Green Cards and Permanent Residency

A green card is slang for a card which serves as evidence of an immigrant’s permanent residence status. The first cards made were in fact green and the name stuck even though the color of the card has changed several times over the years. Government Green cards allow foreign nationals to live and work in the United States permanently. While green card employment, or permanent residency card, offers a great deal of opportunity for immigrants, getting one can be a very frustrating process that can take years to complete, and applicants are highly advised to seek help from an Immigration Lawyer. Permanent residence status does not afford all the rights of U.S. citizenship, but does offer an immigrant the opportunity to work and live in the United States permanently (barring any illegal activity which can result in removal and loss of permanent residence status).

If you want to become a lawful permanent resident of the United States, the first step requires a sponsor to file a petition for you when applying for a green card. The following is a list of categories under which you might be able to find a sponsor:

Family-Based Relationships
Spouse, fiancé or unmarried child under age 21 of U.S. Citizen

Spouse or unmarried child under age 21 of Lawful Permanent Resident

Employment-Based Relationships
Priority worker (workers nationally recognized as experts in their field)

Highly-skilled professionals

Ordinary workers

Special Immigrants
Religious workers, former employees of the U.S. government, and other specifically designated categories of people

Entrepreneurs
A sponsor is not necessary in this category, but the entrepreneur has to be willing to invest $1,000,000 or $500,000 and employ ten U.S. workers.

Protected Status
Aliens seeking protection from persecution based on specific factors

Business or Tourists Visas

Anyone who enters the United States must either qualify for the Visa Waiver Program or have a visa to present to Customs and Border Protection upon arrival in the United States. A visa is not a guarantee of entry. The Customs and Border Protections officials have the authority to deny entry to the United States. It is wise to follow all the rules regarding entry and to be respectful and cooperative when dealing with the Customs and Border Protections officials.

To encourage tourism and ease the entry process into the United States, the United States has created the visa waiver program (discussed earlier). The Visa Waiver Program allows people traveling to the United States for business or pleasure and who plan to stay less than 90 days to travel without a visa. As mentioned earlier, the non-immigrant will have to submit biometric information at the port of entry.

B-1 and B-2 Visas
Any traveler who does not qualify for the Visa Waiver Program, either because he is from a country which is not on the list of participating countries, or because he wishes to stay longer than 90 days, must apply for a B-1 or B2 visa depending on the purpose of the trip.

A B-1 visa is for travelers whose general purpose is related to business or his work such as:

•Meet business associates
•Attend a specific professional convention or conference
•Negotiate a business contract
A B-2 visa is for travelers whose purpose is generally social or recreational such as:

•Tourism
•Amusement
•Visit friends or relatives
•Relax
•Medical treatment

Non-immigrant visas for business and travel are fairly common and easy to process. The United States recognizes the value of foreign visitors to the economy and the culture. Travelers to the United States who do not pose a threat to the welfare of the people of the U.S. will be welcomed.

Green Card Through Marriage

Marriage to a U.S. citizen is one of the fastest ways to obtain legal permanent residence or “Green Card” and generally allows for the rapid issue of employment authorization.

In some cases, marriage to a U.S. citizen is also considered a strong defense to deportation and removal proceedings.

However, under the Alien Fraud Marriage Act of 1986, the immigration service (USCIS) must be satisfied that the marriage is a real and genuine Union. The applicants must prove that they married in order to establish a life together; that the primary purpose of the marriage was not to secure immigration benefits.

The USCIS always takes the position, that marriages are initially presumed to be fraudulent and that the applicants had ONLY married to receive the immigration benefit.

Accordingly, the burden of proof to establish the bona fides of the marriage falls upon the applicant. Never at any point does USCIS have a responsibility to investigate any aspect of the application, in order to determine if the marriage is real and genuine.

The burden of proof is established through a series of questions posed at an interview, in addition to the presentation of documentary evidence. The couple may be interviewed together or separated, and questions posed to them, individually

If the applicant does not satisfy this burden of proof, then the application is denied. It is therefore, extremely important that applicant is as prepared as possible.

An experienced attorney can assist in this task, both I preparing the application correctly and also advising the applicant, as to what kind of documents should be brought to the interview, to increase the likelihood of success.

In instances where the marriage is(less than two years old, the individual is granted a two-year conditional residency. Prior to the end of this two-year period, an application is made to remove the condition.

Three years after the applicant is granted permanent residence status or "Green Card", the individual may apply for U.S. citizenship.