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Author Archives: Mark E. Cohen

Proposed Bill Would Make Discharging Student Loans in Bankruptcy Easier

Americans are carrying a staggering $1.7 trillion in student loan debt. Before the COVID-19 pandemic hit and a moratorium was placed on payments, 11 percent of student loans were 90 days or more past due or in default. With the economy still in turmoil, many experts expect defaults to increase when the moratorium ends this […]

Could the COVID-19 Pandemic Lead to the End of Medical Bankruptcy?

In the middle of an election year where healthcare is already a hotly debated issue, the COVID-19 pandemic has stirred further discussion about whether major changes are necessary. During the Democratic presidential primary, the concept of Medicare for All split the candidates. While the candidate who promoted that concept has since dropped out of the […]

Mark Cohen Named to Bankruptcy Court Advisory Committee

The law office of Mark E. Cohen, Esq. is proud to announce that Mr. Cohen has been appointed by the Eastern District of New York Bankruptcy Court to its Consumer Lawyer Advisory Committee. This panel was created to bring experienced bankruptcy practitioners together with Bankruptcy Court judges to increase efficiency and foster better bench-bar interactions. Committee […]

Can I Get Debt Relief Without Filing Bankruptcy?

Whether you face credit card debt or other types of unsecured debt that you believe you cannot possibly repay in a lifetime, filing bankruptcy may represent the best alternative to gain financial control over your life. However, an experienced Queens debt relief lawyer can often help you find other alternatives — even for secured debt […]

Does Bankruptcy Ruin my Credit?

Without a doubt, few people avoid a reduction to their credit scores when filing bankruptcy, which remains on your records for a defined period after your bankruptcy discharge. However, bankruptcy does not actually ruin your Fair Isaac Company (FICO) score. By understanding the basis for your FICO score, you can work to increase your score […]

Can Chapter 13 Bankruptcy Resolve All My Debt Issues?

Depending on the many details of your current situation — including the type of debt you have and your commitment to working with creditors to repay your debt — Chapter 13 can potentially resolve all debt issues. However, understanding how Chapter 13 can help you resolve your debt issues requires an understanding of the rules […]

Should I File for Divorce or Bankruptcy First?

Many factors play a role when determining how bankruptcy can affect a divorce. For some families in Queens, taking care of debt issues first can simplify divorce settlement issues. However, for others, the provisions of the divorce decree can greatly complicate the bankruptcy process. To properly address your unique situation, you really need to discuss […]

What Property Can I Keep When Liquidating Through Chapter 7 Bankruptcy?

Although Chapter 7 bankruptcy involves selling off many assets to help partially repay creditors, the law exempts many types of property from the liquidation process in an effort to leave you with enough assets to have a fresh start. However, you have a number of choices to make, including choosing between the exemption lists offered […]

You Passed The Means Test — Not So Fast!

Because your current monthly income (CMI) is based upon your present income — and not the income when you filed for bankruptcy — you may pass a means test. However, your actual income when compared to your actual expenses equates to a surplus in funds every month. Therefore, a Chapter 7 bankruptcy filing could be […]

Student Loans And Chapter 7 Bankruptcy

Given Congress’ position that student loans are to be repaid absent exceptional circumstances, courts hardly ever allow student loans to be discharged. However, if you file for Chapter 7 bankruptcy and can demonstrate that an exception applies, the debt may be dischargeable. To determine whether your current situation falls under an exception, consult a well-versed […]


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