New Bankruptcy Means Test Figures In New York Effective 11/1/20
As a NYC bankruptcy lawyer, David I. Pankin updates readers regularly on changes in bankruptcy law. The Justice Department has released new figures to be used when determining when the New York bankruptcy means test applies for cases filed after November 1, 2020. In the Bankruptcy Code, the means test is used to determine eligibility […]
6 Bankruptcy Myths
At the Law Offices of David Pankin P.C., we have helped well over 10,000 clients file for bankruptcy in New York. We have heard many different incorrect conceptions about bankruptcy from our clients over the years. Here are the six most common myths that we have encountered: 1. My credit will be permanently damaged – […]
Should I File Bankruptcy Without a Lawyer?
Are You Struggling Financially And Considering Bankruptcy? Many people who are struggling financially and overwhelmed by debt are often not sure where to turn for help. One option, which is often the best option, is bankruptcy. In contemplating whether to file for bankruptcy in New York, we strongly recommend consulting with an experienced bankruptcy attorney. […]
COVID & PPP Program Updates
New Funding for PPP Loans On April 23, 2020, a $484 billion coronavirus relief bill was passed by Congress that provided $320 billion for a second round of funding for the Paycheck Protection Program (PPP) created by the CARES Act. The PPP was designed to help small businesses get through the COVID crisis and cover […]
Help for Small Businesses Affected by The Coronavirus Crisis
Over 1 million small businesses across the U.S have been significantly negatively affected by the Coronavirus Crisis. This economic devastation is particular severe locally in the New York City area with its high number of diverse small business. From restaurants, to small shop owners, to startup businesses, the economic pain is being felt throughout the […]
Help For Individuals During The Coronavirus Crisis
As of April 16,2020, twenty- two million Americans are out of work and have applied for unemployment benefits. The Coronavirus crisis has hit many industries hard: restaurants, bars, airlines, hospitality, live music, sports, movie theaters. Stay at home orders and the closure of non-essential businesses have taken an enormous toll on our economy with the […]
Coronavirus (COVID-19) Financial News, Updates and Assistance
New Changes to Credit Score Calculation
Welcome to David I. Pankin, P.C.’s consumer financial updates. David I. Pankin is a Long Island bankruptcy lawyer with offices in Manhattan, Brooklyn and Melville. We’re happy to bring you recent updates about new changes to credit score calculations. A New FICO Formula Consumers creditworthiness is summarized using credit scores. There are only a few […]
Stop The Enforcement Of A Judgment Through Bankruptcy
In this blog, we will examine how filing a Bankruptcy petition can stop the enforcement of a court judgment. Once a creditor sues you and obtains a judgment against you there are two main ways they can enforce it: wage garnishment or by restraining a bank account. According to New York’s Civil Practice Law & […]
Enticing Promotional Credit Card Offers And Bankruptcy
Introductory 0% APR Interest: New Purchases & Balance Transfers In a rush to attract new customers, many credit cards companies offer 0% APR incentives for limited introductory periods. Some cards offer the introductory 0% APR only on either purchases or balance transfers, but not both. A few cards offer an intro 0% APR on both. […]