Late last year, The Boston Globe ran an article touching on a difficult topic in New York bankruptcy: joint, nondischargeable debts. Normally, if a debt is jointly owed and dischargeable, then it’s unlikely to raise problems in bankruptcy, whether the borrowers are married or not. Once it’s discharged, the lender may demand payment from the . . . → Read More: Joint, Nondischargeable Debts: Few Options for Separated Couples
The short answer is: We don’t know—according to a November 2016 article in New York Law Journal. In discussing the topic, the authors could not find any court cases in the Second Circuit addressing which party controls the attorney-client privilege in a New York bankruptcy.
Before explaining why this is an issue, it’s necessary to . . . → Read More: Attorney-Client Privilege: Whose Is It in an Individual New York Bankruptcy?
I recently wrote about research showing that race sometimes influences New York bankruptcy chapter choices, and lawyers might misdirect black clients to chapter 13 when chapter 7 would be more appropriate. A new study from the Pew Research Center offers insight as to why black (and Hispanic) borrowers struggle with debts, specifically mortgage debts.
Pew . . . → Read More: Pew Study: Blacks, Hispanics Struggle in Mortgage Markets
It’s a question that came up in 2015, and the answer isn’t favorable to debtors in New York bankruptcy. When debtors file in chapter 13, creditors file proofs of claim because they usually expect to receive disbursements from the bankruptcy estate. In New York, it’s almost certain.
The rub, though, is that sometimes creditors file . . . → Read More: Do Chapter 13 Debtors Have FDCPA Claims Against Creditors With Stale Debts?
Most New York bankruptcy debtors choose to file in chapter 7 or chapter 13 because Congress designed them to fit most consumer debtors’ circumstances. What motivates debtors to choose one chapter over another is a matter of debate, but a recent paper on bankruptcy debtors has found that aside from their financial circumstances, their races—and . . . → Read More: Circumstances, Not Race, Should Influence Bankruptcy Chapter Choices