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Month: June 2012

When Is It Possible to Withdraw and Refile in New York Bankruptcy?

Filing bankruptcy in New York is a decision that shouldn’t be made lightly. That’s common sense. Problems can arise though, particularly when debtors make mistakes in their petitions that might result in them losing otherwise exempt property to the Trustee to be resold to creditors. The question then becomes, can debtors withdraw their bankruptcy petitions …

When Is It Possible to Withdraw and Refile in New York Bankruptcy? Read More »

Bankruptcy and Gay Marriage: Federal Courts Holding Defense of Marriage Act Unconstitutional

New York only recently allowed same-sex couples to marry, but that doesn’t mean they receive equal treatment under federal law. This distinction appears acutely in situations surrounding the federal tax code, Social Security survivor benefits, and bankruptcy. The cause is the Defense of Marriage Act (DOMA), passed in 1996, which defined the term, “marriage,” as …

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Should You Rent Storage Space when Filing New York Bankruptcy?

People filing bankruptcy in New York are usually concerned about the disposition of major assets—and they should be—like houses, cars, jewelry, artwork, etc. Minor possessions, such as your furniture, heirlooms, and books are handled differently. True the bankruptcy code creates exemptions for these items. For example, in New York, they’re mostly covered by a $1,000 …

Should You Rent Storage Space when Filing New York Bankruptcy? Read More »

What Happens If You Omit a Creditor from Your New York Bankruptcy?

In most bankruptcy filings, all the creditors are included in the bankruptcy petition, and a decent bankruptcy attorney will advise debtors to bring a recent credit report to their first consultation. All the creditors should be listed there. However, there are occasions when debtors forget to list a creditor on their petitions, and the question …

What Happens If You Omit a Creditor from Your New York Bankruptcy? Read More »

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