December 2015 - Bankruptcy Attorney in Brooklyn, New York

Ratings Agencies Pessimistic About Student-Loan Securities

Bankruptcy, Creditors, Debt / By Matt Leichter

Rating agencies’ opinions of financial assets isn’t much concern to the New York bankruptcy world, but notably in mid-December both Moody’s and Fitch issued press releases documenting their pessimistic outlooks on a very unique type of financial asset: Federal Family Education Loan Program (FFELP) Asset-Backed Securities (ABS). The FFELP is the defunct federal program in …

Ratings Agencies Pessimistic About Student-Loan Securities Read More »

Beware ‘Lead Generators’ and ‘Lead Aggregators’

Creditors, Debt, Scams / By Matt Leichter

I recently wrote about stymieing debt collectors by controlling the personal information you give them. Saliently, a recent Consumer Financial Protection Bureau (CFPB) action demonstrates why debtors should be careful with what they tell creditors, especially online. The action, situated in California federal district court, concerns the behaviors of what are called “lead aggregators.” “Leads,” …

Beware ‘Lead Generators’ and ‘Lead Aggregators’ Read More »

Capital Gains, Transfer Taxes, and the Bankruptcy Estate

Bankruptcy, Chapter 11 Bankruptcy, Chapter 7 Bankruptcy, Trustee / By Matt Leichter

In chapter 7 and chapter 11 New York bankruptcy, a bankruptcy estate is created and then either liquidated or managed for the creditors. In chapter 7, the estate is controlled by the trustee; in chapter 11, it’s managed by the debtor in possession or a trustee if appointed by the bankruptcy court. It’s easy to …

Capital Gains, Transfer Taxes, and the Bankruptcy Estate Read More »

Strategies for Preventing Debt Collection Calls

Creditors, Debt / By Matt Leichter

Congress has written a few laws to help protect debtors who fall behind on their bills from creditors. Aside from the Bankruptcy Code, there’s the Fair Debt Collection Practices Act (FDCPA) and the Telephone Consumer Protection Act (TCPA). The FDCPA regulates what debt collectors can say to debtors; the TCPA limits some of the tools …

Strategies for Preventing Debt Collection Calls Read More »

The Predictive Power of the Unromantic Credit Score

Bankruptcy, Debt / By Matt Leichter

Credit scores and bankruptcy frequently intersect. Primarily, debtors are concerned about the impact a bankruptcy filing will have on them. It’s not a trivial concern: Credit scores have gone beyond determining creditworthiness to evaluating housing and employment prospects, although New York City has banned many employers from using job applicants’ credit scores as a screening …

The Predictive Power of the Unromantic Credit Score Read More »

Persuasive Reasons to List Every Debt in Bankruptcy

Bankruptcy, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Creditors, Debt, Exemptions / By Matt Leichter

In New York bankruptcy, debtors are required to list all of their debts in their petitions and schedules. This is true for both chapter 7 and chapter 13. On the bright side, though, debtors who forget to list a debt will suffer few consequences if they file in chapter 7 and have no assets for …

Persuasive Reasons to List Every Debt in Bankruptcy Read More »

What Is a ‘Pot Plan’ in Chapter 13 New York Bankruptcy?

Bankruptcy, Chapter 13 Bankruptcy, Creditors, Debt / By Matt Leichter

The answer has to do with paying money into a pot, not other kinds of pots. There is surprising flexibility in how debtors can structure their repayment plans in chapter 13 New York bankruptcy, especially as they apply to unsecured creditors. The reason for this flexibility isn’t simply to give debtors more options; rather, it’s …

What Is a ‘Pot Plan’ in Chapter 13 New York Bankruptcy? Read More »

What Can New Yorkers Keep From Creditors Enforcing Judgments?

Bankruptcy, Debt, Exemptions / By Matt Leichter

The question arises after a November editorial in The New York Times castigated state governments for doing too little to protect everyday Americans from a host of unethical and illegal debt enforcement efforts, including “sewer service,” which occurred in New York State. You can read more in my earlier post about the topic, but the …

What Can New Yorkers Keep From Creditors Enforcing Judgments? Read More »

Swerving to Avoid a Disaster in Chapter 13: Filing a Motion to Suspend

Bankruptcy, Chapter 13 Bankruptcy / By Matt Leichter

When problems arise in a chapter 13 New York bankruptcy repayment plan, probably the most common suggestion for staying on track is filing a motion to modify the plan. Usually this means extending the plan’s length, when it’s under 60 months, or changing the monthly payment. There are alternatives to modifying the plan, but they’re …

Swerving to Avoid a Disaster in Chapter 13: Filing a Motion to Suspend Read More »

Free Consultation

(718) 855-6840

The office is open as per the NYS Covid-19 guidelines. We are now doing both in-person and telephone consultations. Please call the office at 718-855-6840 to schedule a time to speak with one of our experienced bankruptcy attorneys.