Chapter 13 Bankruptcy | Rosenberg, Musso & Weiner, LLP

Chapter 13 Debt Limits Won’t Stymie Your New Bankruptcy

The most common route for filing bankruptcy in New York is file for Chapter 7 bankruptcy. It’s quicker than Chapter 13 and allows people to discharge many types of debt. In some cases, though, a person may be ineligible for Chapter 7 and must file in Chapter 13, which is often . . . → Read More: Chapter 13 Debt Limits Won’t Stymie Your New Bankruptcy

Will the automatic stay protect me from foreclosure in New York?

If you are facing foreclosure on your home in New York and you file for bankruptcy, will the automatic stay protect your home from foreclosure?

The answer: Yes and no.

Once you file for bankruptcy, the automatic stay goes into effect and prohibits any creditors from taking any actions to collect money or assets from you. This does . . . → Read More: Will the automatic stay protect me from foreclosure in New York?

How does a New York bankruptcy case end?

You may know how a New York bankruptcy case begins. (Your lawyer e-files your case with the court.) But what’s the event that signals the end of a bankruptcy case?

There are actually several ways a bankruptcy case can end.

Discharge: For Chapter 7 or Chapter 13 bankruptcy, discharge is the most common outcome. And of course it’s . . . → Read More: How does a New York bankruptcy case end?

Chapter 7 bankruptcy and the means test: What does it mean?

Chapter seven bankruptcy (or “straight liquidation”) is the most common form of bankruptcy filing in New York and around the U.S.

Thanks to the “means test,” however, it’s slightly less frequently used than it used to be. That’s because the means test for Chapter 7 bankruptcy was essentially put in place by the credit industry in the . . . → Read More: Chapter 7 bankruptcy and the means test: What does it mean?

401K Loan, Bankruptcy: What you should know

If you’re thinking of filing for bankruptcy in New York and you previously took out a 401(k) loan, what should you be aware of?

First, it depends upon whether you’re going to file for Chapter 7 or Chapter 13 bankruptcy. (And that’s a question to discuss with your experienced bankruptcy attorney in New York.) In a Chapter . . . → Read More: 401K Loan, Bankruptcy: What you should know

Bankruptcy and Student Loans: Do they go together?

Can New Yorkers get their student loans discharged in bankruptcy? You can certainly get most other debts discharged. So why not student loans?

Because the student loan industry lobbied hard to make sure that student loans were listed as “non-dischargeable” when the 1978 Bankruptcy Code was written. As a result, the only exception for getting a student . . . → Read More: Bankruptcy and Student Loans: Do they go together?

Will Bankruptcy Stop Foreclosure?

Foreclosure looms over your Brooklyn home (or Manhattan, Queens, etc. home). You’re not sure what to do about it and may be wondering if a bankruptcy filing will help.

Will bankruptcy stop foreclosure?
Of course, the answer depends on your situation. There are many different factors to that affect the decision, which an experienced New York bankruptcy attorney . . . → Read More: Will Bankruptcy Stop Foreclosure?

How frequently do people file for bankruptcy without a bankruptcy lawyer?

According to a recent post by Professor Bob Lawless on CreditSlips.org (a bankruptcy blog that features top academic minds in the bankruptcy world), 1 in every 9 bankruptcy cases in the U.S. is filed pro se. (FYI, pro se means when you represent yourself in a case rather than hire a lawyer.) And in some districts, . . . → Read More: How frequently do people file for bankruptcy without a bankruptcy lawyer?

Can my employer fire me for filing for bankruptcy?

Can my employer fire me for filing for bankruptcy? Can my employer fire me based on my race?

No and no. You can’t be fired based on your race. And you can’t be fired just because you’ve filed for bankruptcy. The bankruptcy laws specifically prohibit firing an employee because of a bankruptcy filing.

Many people aren’t aware of . . . → Read More: Can my employer fire me for filing for bankruptcy?

Bankruptcy Bill's Bankruptcy Song Contest

A song contest might not be the first thing that comes to mind when you think of bankruptcy. But apparently it is for the folks at the Bankruptcy Bill cartoon site.

So if you have any thoughts or feelings about the topic of bankruptcy, whether from personal experience or otherwise, here’s a wonderful opportunity to express yourself.

Go . . . → Read More: Bankruptcy Bill's Bankruptcy Song Contest

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