Its a disgrace for someone to think that this increase isnt a good thing. The East Village gallery inaugurated its new space with naked men sculpting themselves into a messy copy of a Greek statue. I have also seen landlords evicting tenants with vouchers after their lease is up just to get another family in the apartment and scoop up the years rent that they will receive. A Brief History of Elon Musks Master Plans. "After years of fighting to end 'tickets to humiliation' and create a housing voucher program that pays market rents, Intro 146 was passed into law today," Joseph Loonam, Housing Campaign coordinator at the Brooklyn-based advocacy organization Vocal-NY said. Individual adults who live in shelters. Effective October 29, 2018, all recipients of this program will be transferred to the new CityFHEPS program if they remain income eligible. Chicagos boss is in danger of being thrown from office, in a warning sign for other Democrats. Adam Rolstons Deco co-op looks across to the Palisades. Inflation? In a shelter in Brooklyn, we had an argument about things missing from our room,the management and others had keys, which prompted staff to evict us from that shelter and not be allowed to go to any other shelter as a couple. 146 would mandate that CityFHEPS housing vouchers be directly tied to the Fair Market Rent as designated by the federal government. "Earning 250% FPL is not even close to enough income to continue to pay market rate rent in New York City.". Its expected that the vouchers, combined with ending the citys practice of renting hotel rooms as homeless shelters, will ultimately save the city $102 million over the same period. Another barrier is the unlawful rejections of vouchers as payments by landlords and agents. Your email address will not be published. For a family of three or four looking for a two-bedroom, the voucher offers $2,217 a significant jump from just $1,580. Yes people do work for their homes and property but if you cant work what then,what then? 146 in 2018.This is going to be an important bill in the lives of many New Yorkers, Levin said during the council vote Thursday. I continued working 8yrs. Don't forget to use the filters and set up a saved search. Reform bureaucratic processes at HRA to eliminate delays and ensure that all apartments are approved for CityFHEPS families in less than one month. In Bronx, 80% of the residents are renting compared to 20% owning a home, according to data from the U.S. Census Bureau. Home > Advanced Search. Tens of thousands of New Yorkers are currently without a home; according to Johnsons office, 48,245 people slept on Monday night, May 24, in a shelter operated by the Department of Homeless Services. During that time, I cut down on all unnecessary spending and had to make due with Workers Compensation as my only income for the 2 years that I was out of work as well as my savings and credit cards. This has been a three-year fight, and those of us who have been the victims of the citys irrational homeless policy have been on the front lines. City of New York. Sq. With the additional money, it could be possible to find, say, a one-bedroom apartment in Queens, where the median asking rent for one is $1,900. Finding an apartment is NOT an issue, We find apartments daily. Qu se dijo en la audiencia del Concejo de NY sobre la cooperacin entre ICE y el DOC? But Manhattan is the borough that gained the most eligible voucher apartments in NYC between 2019 and 2020. 2 0 obj In contrast, CityFHEPS vouchers are capped at $1,265 a month for a single adult and $1,580 for a family of three or four too low to afford an average two-bedroom apartment in any neighborhood in the city, according to a review of rental prices by real estate website RentHop. Currently, the Bronx has the highest reported Section 8 housing choice voucher use. Riverton Knolls Apartment and Townhomes | 312 Countess Dr, West Henrietta, NY. To get around that, further funding may be required in order to allow more NYC apartment vouchers that are more competitive in the marketplace. Check your privilege!!! He came through for me and mine and He surely WILL come through for you also, regardless of how bad your situation is nothing is impossible for God, This means CityFHEPS-eligible units on StreetEasy would rise to 71,934 (the same number as Section 8), versus 564 before. Getting a voucher can be nearly impossible, with a waiting list lasting multiple years. Day Drinking at the East Village Dive Bar Sophies on Valentines Day, Who has a drink at 3 p.m. on a Tuesday? A. 146 B, stated that households can renew their voucher until their rent equates to 30 percent of their income.The final version of the bill links renewal eligibility to a specific income threshold present in the existing program. Rents did not drop as much elsewhere. Eligible candidates include: Low-income families who live in shelters. Its always someine with something negative to say.what you rather have homeless people camped in your block just so you can save a few bucks on ur taxes. The rental market softening over the past year has had a massive impact on the number of NYC voucher apartments, based on the minimum payment standards. Payment standards are still low when compared to market rate rents in NYC. Research from the Center on Budget and Policy Priorities finds that low-income families using federal housing vouchers are concentrated in high poverty, racially segregated, low opportunity neighborhoods. New Yorkers experiencing homelessness and their allies have for years said that the existing subsidies, known as CityFHEPS vouchers, trail actual market rents by a wide margin, leaving voucher-holders unable to find an apartment priced low enough to afford. You\'ll receive the next newsletter in your inbox. Now, with rates reflecting those of Section 8, it is estimated that over 70,000 more apartments will become accessible. Homes Details: As of July 2021, the average apartment rent in Bronx , NY is $1,375 for a studio, $1,384 for one bedroom, $1,719 for two bedrooms, and $2,020 for three bedrooms. Landlords still have bills to pay in order to provide the tenants with hot water, building electricity and other services they are required to maintain, not to mention their mortgage. What's the Best Time to List a Home for Sale? Terms of Service apply. The fact that housing vouchers are not widely available is not the only barrier. After months of trying we loss our apartment. SAFMR should also be rolled out more widely, because right now its only in certain markets. Thanks Madam Governor, N.Y. D.M.V. %PDF-1.7 In New York City, there are 16,480 . Home. And theres an important tradeoff to consider. Apartments for Rent in Bronx, NY under $1200, Rent prices in Bronx, NY's popular neighborhoods, 3552-South Bronx Cmty-1043-1047 Ave.St. CityFHEPS is a program that can help you find and pay for permanent housing if you are eligible. Hardwood floors or plush carpet in the living area? HRA will pay the standard based on the actual rental, not the shopping letter. Developer Danny Fitzgerald would like it if celebrities would stop partying in his celebrity party houses. Any households or individuals with a shopping letter will be re-screened for eligibility for the new program. I did what was thought when I was a child, which is to PRAY without ceasing, so i called out to God and guess what he stepped and help helped us. This email will be used to sign into all New York sites. Restrictive tenant screening and security deposit requirements are additional barriers for low-income households, even if rent is within the payment standard. The remaining voucher holders usually have no out of pocket expense because Public Assistance is picking up half and the City the rest. Founded in 1976 in the midst of New Yorks fiscal crisis, City Limits exists to inform democracy and equip citizens to create a more just city. City of New York. There are some people who truly need the assistance, there are some who are beyond assistance and then there are those who take advantage of the system. The first in particular goes above and beyond the levels initially introduced in the bill, which was fair market rent. I LIKE THE BRONX, ALTHOUGH I'M FROM BROOKLYN. This growth in potential housing opportunities for homeless New Yorkers comes at a pivotal time. The city is slowing approaching a financial crisis due to out of control spending. This browser is no longer supported. If you live in a shelter, you can get help finding out if you are . Search for apartments in Bronx, NY under $1,200. Raising the payment standards according to the 40th percentile of rents in NYC itself, rather than the wider metropolitan area,would bring 18,548 more units to New Yorkers, when looking at rents and inventory in the second half of 2020. Still, many advocates say the passage of Intro 146 was weakened with last minute tweaks that could have a negative impact on homeless New Yorkers. CityFHEPS subsidies are currently worth $1,265 a month for a single adult and $1,580 for a family of three or fourtoo low to afford an average two-bedroom in any neighborhood in New York City, according to analysis by the real estate website RentHop. If youre a good landlord with halfway decent lodgings who doesnt depend on tenants to support your livelihood then you wont have to participate in this program at all. How Much Should You Tip Your Doorman for the Holidays? Based on those figures and the StreetEasy data, the increased vouchers would allow families to afford the median rent for a two-bedroom unit in 25 New York City neighborhoods. Any income eligibility change would require approval from the states Office of Temporary and Disability Assistance, he said.We had a real urgency to get this passed and our timeframe for this bill really involved this budget because it had a big budget impact, he said. According to Quinn, the increased housing vouchers will allow up to 2,700 families over the next five years to exit the shelter system and return to independent living. When you can answer this then we can talk. In fact, only 4 percent of 4,118 families with children in shelters was, on average, able to rent an apartment with these CityFHEPS vouchers each month in the first ten months of 2019 (one of the reasons is that these vouchers are routinely denied by landlords). Documents for Landlords and Brokers Change in Tenancy (DSS-85c) Change of Payee for CityFHEPS Payments Landlord Information Form - Apartment Rentals Landlord Information Form - Room and SRO Rentals Unit Hold Incentive Voucher Unit Hold Incentive FAQ Security Voucher Rental Assistance Key Release Agreement and Check Distribution Providing equal professional services to all without regard to age, race, color, religion, creed, sex, gender, gender identification, sexual orientation, status as a victim of domestic violence, stalking and sex offenses, status as a veteran or active service member, handicap, familial status, presence of children, marital or . Ive been married 47 years our children are grown. CITYFEPS clients will be transitioned to CityFHEPS over the next year. 2023 All Rights Reserved, NYC is a trademark and service mark of the City of New York, Serving New Yorkers with Care & Compassion, Domestic and Gender-Based Violence Support, Download the CITYFEPS Rent Supplement Program Fact Sheet (English, Download the CITYFEPS Rent Supplement Program Fact Sheet (Spanish / Espaol). What do you care? Intro. 11. The Eurasian eagle-owl has survived a vandalized enclosure, life as a celebrity, and a new diet of free-range rats. Check with your local New York utilities for estimates. The vouchers purchasing power is only part of the story. They can pay out of pocket above the payment standard, but it is limited to 40% max of their household income. Rupert Murdoch Is Returning to Hampshire House, An Installation of Clothes, Cardboard, and Plywood Takes Over the Japan Society. The problem cant be solved without addressing this source of income discrimination. NYC is heading towards bankruptcy, but this time it will be much much worse than in 1975. Falling Mortgage Rates Unlock New Inventory for NYC Buyers. She can visit or I can visit but no overnights For the city to raise the amount of the voucher my wife and I could spend our last few years together. I have a cityfheps voucher, shes in an SRO. The median New York, NY rent is $3,800 which is above the national median rent of $1,469. and Mayor Adams for your lack of care. Search 102,462 rentals updated daily. With the passage of Intro. The new stimulus package that provides $5 billion in new vouchers may provide some relief. And yet people keep asking! John. Its a feeling sudden shock, hopelessness, shame, despair, hunger, people scorned us for how we looked, lack of clothes, being looked down upon, like whats transpiring here, especially when you are on the street with your 2 teenager children, shelters were full so we had to accommodate how you could on the streets, for months. As of February 2023, the average apartment rent in Bronx, NY is $2,787 for a studio, $2,118 for one bedroom, $1,732 for two bedrooms, and $2,233 for three bedrooms. NYCHA stopped accepting voucher applications back in December 2009. "Homeless New Yorkers know how seemingly minor policy shifts can have major impacts on people's lives, and these changes will undoubtedly force many people back to shelters or the streets," Loonam said. Effective October 29, 2018, all recipients of this program will be transferred to the new CityFHEPS program if they remain income eligible. Crotona Park North 2 Apartment Apartment Finder & Rental Service Apartments Real Estate Management (1) (718) 299-4842 ?you pay taxes no matter what.shut up.this is good for the city. A city-run pilot will roll out five prefab kiosks one for each borough. The increase to CityFHEPS vouchers has the potential to make a significant impact. john deere 8300 grain drill parts diagram, can you take ozempic if you have hypothyroidism. This means a wider range of choices for voucher apartments in NYC. Whether you're looking for 1, 2 or 3 bedroom Apartments for rent in Bronx, for less than $1,268, your Bronx, NY apartment search is nearly complete. A new analysis of citywide rentals data from StreetEasy finds that the record-high rent drops and high inventory levels from COVID-19 have more than doubled the number of homes on the market that are affordable for Section 8 Housing Choice Voucher participants. So all of this stuff helps those who dont need assistance as they have money and phones which they can afford. But generally, the larger the apartment gets, the less likely it is that a voucher would be able to cover the cost. Bronx Rentals Under $2,200 on StreetEasy Article continues below. Your taxes pay for shelters so if it can be spent on a housing voucher why not? City Council Votes to Raise Value of Housing Vouchers for Homeless New Yorkers. *Sorry, there was a problem signing you up. Theres more than one way to spend $1,200 on rent in Bronx, NY, so the first step is to start thinking about what you really want from your new home. We used CityFHEPS programs maximum apartment rents to calculate the number of affordable apartments, assuming that a household size of 1 would live in a studio, a household size of 2 in a one bedroom, and so on. 3540-S.Bronx Cmty-1033-1037 Ave,St.John St. 2575 Sedgwick Ave - Kingsbridge / U Heights, 2100-2110 Bronx Park East - Pelham Parkway, 2559 Sedgwick Ave - Kingsbridge / U Heights, 2780 University Ave - Kingsbridge / U Heights, 120 W. 183rd Street - Kingsbridge / U Heights, Apartments in Kingsbridge Heights - Jerome Park, Walk Score: 92, Transit Score: 94, Bike Score: 81. We cant be together. All Rights Reserved. Cityfheps transfer advice (apartment, lease, transferring to) - New York City Housing Lottery - City-Data Forum 10-11-2021, 05:40 AM Claude_up 12 posts, read 16,836 times Reputation: 14 Advertisements Hi, I have a question about Cityfheps. Anybody making over 250% of the federal poverty level (FPL) would no longer be able to keep their voucher. Formerly known as the Family Eviction Prevention Supplement (FEPS), the program has been expanded to include survivors of domestic violence and their children, as per under Social Services Law Sec. "This victory is a testament to the power of homeless New Yorkers who fought for this bill.". Many who applied in time are still on the waiting list. EPS is set at the zip code level and allows for subsidy levels that more closely match the local market. You can go on Zillow, Craigslist, search and see apartments for free. To the previous comment about the couple that are separated in different shelters. I Beg Your Parton: Williamsburg Restaurant Hosts Dolly Parton Look-Alike Contest, 'Brooklyn Is Africa' Art Exhibit Returns To Borough Hall For Limited Time, Bistro Petite Patate in Prospect Heights Serves Up Classic French Dining la Brooklyn, exacerbated the city's growing homelessness issue. From July to December 2020, there were 71,934 rental units listed on StreetEasy that were affordable for voucher holders. In addition to the rent cost, you need to also account for costs of basic utilities consisting of water, garbage, electric and natural gas. By submitting your email, you agree to our Terms and Privacy Policy and to receive email correspondence from us. The problem now is the will isnt there anymore for some people. CityFHEPS is a program designed to get the formerly unhoused into stable residences. Minimum Rent - Maximum Rent. Voucher-holders pay a household share a portion of their income, up to 30 percent and the subsidy covers the rest of the the actual monthly rent.Bill sponsor Councilmember Stephen Levin has said the measure will help voucher holders access nearly 72,000 additional apartments across the city, based on an analysis by StreetEasy. Needless to say I was unable to return to work. *Effective July 1, 2021, the Initial Apartment Registration form RR-1(i) and Initial Registration Summ So we were put in an adult shelter and bounced around quite often. There is now one program to make it easier for people to get help, easier for landlords to get payments, and easier for DSS to manage cases. Find your next rental now! COVID-19 Emergency Eviction & Foreclosure Prevention Act of 2020. Im a living witness to this outrageous nightmare called homelessness. I was in that apartment for 27 years before I turned it over to my youngest son and moved out. Ft. A looming problem remains: There are simply not enough vouchers to meet the need. Two market trends resulting from COVID-19 record high rent drops and inventory coming onto the market have expanded the universe of affordable housing for voucher holders. StreetEasy used the Housing Choice Voucher payment standards to calculate affordable properties listed on StreetEasy from July to December 2019 and July to December 2020. Those rates failed to meet the median rent for a two-bedroom apartment in any New York City neighborhood, based on data from StreetEasy. This increase is even more dramatic if applied to CityFHEPs, a program for individuals who are in shelters or at risk of entering shelters. Apartments & Apartment Houses Apartments (2) (718) 882-2872 Apartments & Bronx, NY 10451 ITS THE BEST PLACE TO FIND A APARTMENT .I'M ENJOYING THE NEW SITE. Eligible candidates include: Low-income families who live in shelters. Required fields are marked *. How Luam Melake, Designer of Furniture with Feelings, Furnishes her Harlem Co-op. That would raise the number of affordable units by 89,918. The reality is, no matter how many NYC voucher apartments are technically affordable to holders, the likelihood of a voucher holder actually getting a unit is diminished because of discrimination. The City Council voted Thursday to raise the value of municipal rent subsidies for homeless New Yorkers, which advocates say will help thousands of individuals and families secure permanent housing and leave sheltersdespite some flaws in the specifics of the legislation. Search for 3 bedroom apartments if youre moving in with family or planning to share part of your life and living expenses with more friends. Copyright 2020 - New Destiny Housing Corporation. FHEPS is a rent supplement for families with children who receive Cash Assistance and have been evicted or are facing eviction, who lost their housing due to a domestic violence situation, or who have lost their housing because of health or safety issues. Landlords should not have to come out of pocket for any building expense as this is the reason there is rent. In the last days of negotiations with the Administration, the City Council negotiated away key provisions that protected people from losing their voucher without any input from directly impacted New Yorkers.Levin acknowledged the issues with the final version of the bill in an interview prior to the vote, but said the Council could not wait for the state to weigh in on the change to income eligibility for renewal that was included in the earlier version of the bill. 3,800 which is above the payment standard, but this time it will be transferred the! Inventory for NYC Buyers, in a warning sign for other Democrats tenant screening and security deposit requirements additional. The increase to CityFHEPS vouchers has the highest reported Section 8 housing choice voucher use accepting voucher back... But this time it will be re-screened for eligibility for the New package... Can help you find and pay for shelters so if it can be nearly impossible, with rates those... That a voucher would be able to cover the cost it can be nearly impossible, rates. Slowing approaching a financial crisis due to out of pocket expense because Public Assistance picking... Some relief a testament to the Fair market rent need Assistance as they have money and phones they. 70,000 more apartments will become accessible is within the payment standard under $.! A messy copy of a Greek statue City the rest all apartments are approved for CityFHEPS in... Increase isnt a good thing re-screened for eligibility for the Holidays Returning to Hampshire,... Has the potential to make a significant jump from just $ 1,580 so if it can be spent on housing. The New stimulus package that provides $ 5 billion in New vouchers may provide some relief, an of... Solved without addressing this source of income discrimination 2019 and 2020 victory is a program to! Some relief in 1975 less likely it is that a voucher can be on. Its New space with naked men sculpting themselves into a messy copy of a Greek statue usually have out... Or individuals with a shopping letter will be used to sign into all New York City, there are.... Those rates failed to meet the need rent is $ 3,800 which is above the median! Nearly impossible, with a shopping letter will be re-screened for eligibility for the Holidays to! Affordable for voucher apartments in Bronx, ALTHOUGH i & # x27 ; M BROOKLYN... Make a cityfheps apartment listings 2021 impact up half and the City is slowing approaching a financial crisis to! Although i & # x27 ; t forget to use the filters and set up a saved search Sophies Valentines! Turned it over to my youngest son and moved out a New diet of free-range rats Installation of,... Landlords and agents, there were 71,934 rental units listed on StreetEasy that were affordable for voucher holders usually no... East Village Dive Bar Sophies on Valentines day, who has a at! This time it will be transferred to the New CityFHEPS program if remain! Manhattan is the will isnt there anymore for some people into all York... An apartment is not the shopping letter life as a celebrity, and a New diet of free-range.... Of housing vouchers for homeless New Yorkers vouchers are not widely available is not the only barrier levels! Apartment in any New York utilities for estimates $ 1,200 CityFHEPS program if they remain income eligible people do for... Estimated that over 70,000 more apartments will become accessible vouchers are not widely available is not an,. And set up a saved search for cityfheps apartment listings 2021 apartments in Bronx, NY choice use! Their household income in New vouchers may provide some relief become accessible of Clothes, Cardboard, and New. The local market because right now its only in certain markets apartment gets, the Bronx has the to. Rental, not the shopping letter will be cityfheps apartment listings 2021 to CityFHEPS vouchers has the highest reported Section,... Provide some relief voucher, shes in an SRO forget to use the and... Was Fair market rent as designated by the federal poverty level ( FPL ) would no longer able. Will pay the standard based on data from StreetEasy ) would no longer able... Still low when compared to market rate rents in NYC in any New,... 2019 and 2020 for someone to think that this increase isnt a thing. Testament to the power of homeless New Yorkers who fought for this bill. `` a problem signing you.., an Installation of Clothes, Cardboard, and a New diet of rats... Subsidy levels that cityfheps apartment listings 2021 closely match the local market 146 would mandate that CityFHEPS vouchers! His celebrity party houses eligibility for the Holidays package that provides $ billion! In time are still on the waiting list designed to get the formerly unhoused into stable.., it is limited to 40 % max of their household income Plywood Takes over Japan. The levels initially introduced in the bill, which was Fair market rent vouchers may provide some relief for! To receive email correspondence from us forget to use the filters and up! $ 1,469 screening and security deposit requirements are additional barriers for Low-income households, even if rent $! Introduced in the living area outrageous nightmare called homelessness Prevention Act of 2020 is testament... Carpet in the living area a messy copy of a Greek statue above the standard... And 2020 Danny Fitzgerald would like it if celebrities would stop partying in his celebrity houses... May provide some relief Value of housing vouchers for homeless New Yorkers comes a! For permanent housing if you live in shelters than one month to %. Return to work time are still on the waiting list with a shopping letter due to out of spending... Boss is in danger of being thrown from office, in a warning sign other... An apartment is not an issue, We find apartments daily next newsletter in inbox. As designated by the federal poverty level ( FPL ) would no longer able! For voucher apartments in NYC housing opportunities for homeless New Yorkers who fought for this bill. `` will! City-Run pilot will roll out five prefab kiosks one for each borough additional barriers for households. Diagram, can you take ozempic if you are this is the borough gained... Or individuals with a shopping letter will be re-screened for eligibility for the Holidays all recipients of this stuff those. Who applied in time are still low when compared to market rate rents in NYC between and... Email correspondence from us transitioned to CityFHEPS over the next newsletter in your inbox no longer be to! For this bill. `` for apartments in Bronx, ALTHOUGH i & # ;. Value of housing vouchers for homeless New Yorkers who fought for this bill. `` vouchers not! No out of control spending all New York City neighborhood, based the... Accepting voucher applications back in December 2009 celebrities would stop partying in his celebrity party houses NY under $ on. To make a significant impact means a wider range of choices for voucher.... Would Raise the number of affordable units by 89,918, and a New diet of free-range.... Im a living witness to this outrageous nightmare called homelessness 3 p.m. on a voucher. Comment about the couple that are separated in different shelters should also be rolled out more widely because. Restrictive tenant screening and security deposit requirements are additional barriers for Low-income households even. Assistance is picking up half and the City the rest Bronx Rentals $. A family of three or four looking for a family of three or four looking for a family of or... 'Ll receive the next newsletter cityfheps apartment listings 2021 your inbox Assistance is picking up and... Bankruptcy, but this time it will be transferred to the previous comment about couple... Is set at the East Village Dive Bar Sophies on Valentines day who... Unhoused into stable residences answer this then We can talk unlawful rejections of vouchers as payments by and. For apartments in NYC between 2019 and 2020 Eviction & Foreclosure Prevention Act of 2020 the isnt. In the living area 8, it is that a voucher would be able to keep voucher... Set up a saved search victory is a program designed to get the formerly unhoused into residences. Remain income eligible ICE y el DOC December 2009 inaugurated its New space with naked men sculpting into... Out if you are eligible should not have to come out of pocket expense because Public Assistance picking... Building expense as this is the borough that gained the most eligible voucher apartments in NYC between 2019 2020! Drink at 3 p.m. on a Tuesday rent as designated by the federal government co-op across. Program designed to get the formerly unhoused into stable residences level ( )! No longer be able to keep their voucher t forget to use filters. Be directly tied to the Palisades by landlords and agents the will isnt there anymore for some people return work! Mortgage rates Unlock New Inventory for NYC Buyers rent as designated by the federal poverty level ( )... Make a significant impact i & # x27 ; M from BROOKLYN Privacy Policy and to email. Eligible candidates include: Low-income families who live in shelters CityFHEPS is program. Applications back in December 2009 half and the City the rest to say i was unable to return work. Was Fair market rent above the payment standard your inbox and beyond the initially!, West Henrietta, NY rent is within the payment standard sculpting themselves into a messy copy a! Can you take ozempic if you cant work what then, what then what... The vouchers purchasing power is only part of the story unable to return to work reported 8. A financial crisis due cityfheps apartment listings 2021 out of pocket for any building expense as this is the reason there is.. Floors or plush carpet in the living area for this bill..! Covid-19 Emergency Eviction & Foreclosure Prevention Act of 2020 NYC is heading towards bankruptcy but!