|
||||
|
26 Court St, Suite 2211 68 South Service Road, Suite 100 |
For New Yorkers thinking about a bankruptcy filing, it’s tempting. You have a very valuable asset, perhaps some land or art or a car, and you don’t want to risk losing it to creditors. So you give it away to your brother, a friend, one of your children. Is this kosher under the bankruptcy laws? No, this is . . . → Read More: Can I give away property before I file for bankruptcy in New York? NY bankruptcy exemptions have gone through some changes this year. And if you’re a potential New York bankruptcy filer with bankruptcy assets to protect, then those changes are mostly for the better. First off, what are exemptions? Exemptions in the bankruptcy context are assets that would normally be part of the bankruptcy estate but which you get . . . → Read More: NY bankruptcy exemptions and exempt property in bankruptcy “I need to keep my car. Bankruptcy seems like it could make me lose it. What are my options in New York?” This is a common concern among people considering filing bankruptcy in New York. Fortunately, the bankruptcy code recognizes that people often need their cars so they can go to work and continue to earn income . . . → Read More: Can I keep my car if I file for bankruptcy? As of January 22, if you file for bankruptcy in New York you will have the benefit of higher NY bankruptcy exemptions, thanks to a new bill signed into law by Governor David Patterson just before the New Year. What are some of the improvements? Home equity allowance increased from $50,000 to as high as $150,000 in the . . . → Read More: Good news! NY Bankruptcy Exemptions Improved Creditors only wish they could still get that much for his arm. Foreclosure. Divorce. Child support. Business debts. Bad investments. The same things that led Bernie Kosar to need bankruptcy protection–first under Chapter 11 reorganization and then via a conversion to Chapter 7 liquidation–are what cause many other Americans to file for bankruptcy as well. Yet despite the . . . → Read More: Bernie Kosar bankruptcy offers lessons for average Americans facing bankruptcy What does BAPCPA Man dress up for on Halloween? Read below and find out. Note: This cartoon is posted on the NYBankruptcyNet site with the express permission of the creators of BAPCPA Man. Click here to see a larger version of BAPCPA Man #13: Halloween & Bankruptcy. If the prospect of filing for bankruptcy in New York . . . → Read More: BAPCPA Man #13: Halloween and Bankruptcy  Leave a comment  Bankruptcy, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Credit cards, Creditors, Debt, Exemptions, Uncategorized  Bankruptcy, Bankruptcy cartoon, Bankruptcy humor, Brooklyn Bankruptcy, Chapter 13, Chapter 7, Credi-Tor, Credit card debt, Credit cards, Exemptions, Halloween, Hanging Paragraph, New York Bankruptcy, New York Bankruptcy Lawyer An extra $56K, thanks to Bill Buckner. You may have seen recent reports that Lenny Dykstra’s World Series ring was sold at auction to a Queens man for $56,000. And if you’ve been following the travails of Lenny Dykstra, or you’ve been reading previous posts on this blog (e.g., “Why Did Lenny Dykstra File for Chapter 11?” . . . → Read More: Lenny liquidated in 11? The equity in this home may exceed the homestead exemption in New York. Yes, you can keep your home if you file for bankruptcy in New York. But it’s not a given. And depending on your circumstances, there are a few different ways to do it. If you file for Chapter 7 bankruptcy in New York, then . . . → Read More: Can I keep my home if I file for bankruptcy in New York? 2 comments Bankruptcy, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Creditors, Debt, Exemptions, Foreclosure, Foreclosure mediation, Legislation, Loan modification, Mortgage Bankruptcy, Brooklyn Bankruptcy, Chapter 13, Chapter 7, Foreclosure, Foreclosure mediation, Homestead exemption, Legislation, Loan modification, Mortgage, New legislation, New York Bankruptcy, New York Bankruptcy Lawyer, Non-bankruptcy options, Trustee The credit industry lobby did a terrific job of portraying bankruptcy as the refuge of the irresponsible. Hence the 2005 “Bankruptcy Abuse Prevention and Consumer Protection Act” (sometimes jokingly referred to as the “Bankruptcy Protection Prevention and Consumer Abuse Act,” which for the record would be BPPCAA). As those of us who work in the bankruptcy world . . . → Read More: Bankruptcy, social safety nets and planning ahead |
|||
|
Copyright © 2012 Rosenberg, Musso & Weiner, LLP - All Rights Reserved Powered by WordPress & the Atahualpa Theme by BytesForAll. Discuss on our WP Forum |
||||
