LSNYC’s Bill Kransdorf Talks Bankruptcy with the Daily News

New York City Bankruptcy Assistance Project Coordinator Bill Kransdorf was quoted in an October 12th NY Daily News article that focused on the increasing numbers of New Yorkers who are considering bankruptcy as a last resort.

Overall, the number of personal bankruptcy filings in the five boroughs, Long Island and several counties north of the city surged 32% to 29,183 in the 12 months ended June 30, according to the American Bankruptcy Institute.

“Many more people are coming to see us, more than we can handle,” said William Kransdorf, coordinator of Legal Services NYC’s bankruptcy assistance project, a nonprofit that provides free legal advice to low-income New Yorkers.

Bankruptcy should be a last resort after exploring other remedies, particularly because it will stay on your credit report for years, making it tough to buy a home or get new credit cards. But for many with no other choice, it can offer a start toward regaining financial health.

Read the full article at the NY Daily News website.