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Archive for January, 2013

Chapter 7 Bankruptcy and Immigration Status

Written by Bruce Feinstein, Esq. on January 29, 2013. Posted in Bankruptcy Blog

Will filing for bankruptcy affect my immigration status?

If you are not a U.S. citizen, you can still file for a Chapter 7 bankruptcy. But many non-citizens are concerned that filing for bankruptcy in New York will hurt their chances of obtaining citizenship or permanent residence. Some even worry that a bankruptcy filing will result in deportation. However, these fears are – for the most part – unfounded, as filing bankruptcy protection is available to all documented individuals residing in the U.S.

Commercial Bankruptcies Fall 22% in 2012

Written by Bruce Feinstein, Esq. on January 15, 2013. Posted in Bankruptcy Blog

What do 2012 Bankruptcy Rates Mean for 2013?

While many Americans are focused on keeping their financial resolutions in the New Year, there are some positive signs from 2012 that bode well for 2013. Figures from the American Bankruptcy Institute (ABI), a non-partisan group that analyzes bankruptcy issues, show that 57,788 commercial bankruptcies were filed during the 2012 calendar year, a 22% decrease from 74,415 filings in 2011. This trend was also mirrored in Chapter 11 bankruptcies for 2012, which fell 10% from 8,658 filings in 2011 to 7,760.

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