Free Consultation
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.

Month: May 2016

4 Reasons Older Americans Should Consider Bankruptcy to Handle Debts

A few weeks ago I wrote about a Boston-area man who lost his high-paying white-collar job and filed bankruptcy to discharge Parent PLUS student loans he took out for his children. Since that post, it appears the debtor settled with the creditors. Saliently, he had been unemployed for fourteen years, which raises the topic of …

4 Reasons Older Americans Should Consider Bankruptcy to Handle Debts Read More »

Can a Bad Economy Be Grounds for a Chapter 13 Hardship Discharge?

By the time most people file chapter 7 New York bankruptcy, they’ve concluded that there’s really nothing more they can do to repay their debts. They can’t work more jobs or magically earn more money. Thus, their hardship entitles them to a discharge. Chapter 13, by contrast, is aimed at debtors with some hope of …

Can a Bad Economy Be Grounds for a Chapter 13 Hardship Discharge? Read More »

Supreme Court Holds ‘Actual Fraud’ Does Not Require Misrepresentation

On May 16, 2016, the U.S. Supreme Court resolved a split among the circuit courts of appeal regarding the definition of “actual fraud” in the Bankruptcy Code. Section 523(a)(2)(A) states: A discharge … does not discharge an individual debtor from any debt for money, property, services, or an extension, renewal, or refinancing of credit to …

Supreme Court Holds ‘Actual Fraud’ Does Not Require Misrepresentation Read More »

Co-ops in Foreclosure and New York Bankruptcy

I recently wrote about what happens to condo or homeowners fees in New York bankruptcy, but I left out the prominent alternative, non-renting urban residence: co-ops. That wasn’t an accident; the reason is co-op maintenance fees are paid before mortgage payments, so a debtor would default on a mortgage before co-op fees. The result is …

Co-ops in Foreclosure and New York Bankruptcy Read More »

How Can a Debtor (or Creditor) Get a New Trustee?

The trustee in a New York bankruptcy case is usually not the debtor’s ally. His or her purpose is mainly to administer the bankruptcy estate or ensure the debtor’s repayment plan goes according to plan. Trustees pursue preference payments, fraudulent conveyances, and other malfeasance committed by debtors. They frequently initiate adversary proceedings against debtors. In …

How Can a Debtor (or Creditor) Get a New Trustee? Read More »

Where Do Debtor Education Fees End Up? A Multi-Million-Dollar Industry

I wrote a few posts about the 2005 bankruptcy reform, the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA), but I left out one topic that doesn’t really address whether the law benefited debtors in New York bankruptcy. Specifically, what were some of the unintended consequences of the BAPCPA? One answer is the industry spawned …

Where Do Debtor Education Fees End Up? A Multi-Million-Dollar Industry Read More »

Government Reaching Out to Disabled Student-Loan Debtors

A few years ago, I discussed how the federal government changed its process for allowing qualifying debtors to apply for a non-bankruptcy discharge their student loans due to disability. Until 2013, the process required disabled debtors to slog through a bureaucratic process, even if the Social Security Administration had independently judged them as “totally and …

Government Reaching Out to Disabled Student-Loan Debtors Read More »

Scroll to Top