In order to file a chapter 7 or chapter 13 New York bankruptcy a debtor must take what the Bankruptcy Code refers to as “an instructional course concerning personal financial management.” (11 U.S.C. § 727(a)(11)) What is this requirement? In 2005, Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA), which changed a …
Because married couples often share debts, one obvious question is how they can use the bankruptcy process to their advantage. Here are several ways married partners can do so. (1) Because married partners aren’t obligated to file jointly when one of them encounters difficulties paying debts, they have some flexibility in how to deal with …
The Bankruptcy Code obligates a debtor to fulfill a number of duties to successfully complete a New York bankruptcy. Failure to do so can result in penalties ranging from dismissal to revocation of a discharge order to criminal penalties for bankruptcy fraud. 28 U.S.C. § 521 divides the debtor’s duties into ten subsections, and most …
What Documents Must Debtors File to Meet Their Duties in Bankruptcy? Read More »
Most bankruptcy debtors’ creditors are giant, impersonal banks. The obvious plus to discharging debts owed to them is that no one cares if their feelings are hurt. Sometimes the situation is different, such as with credit unions, which are banks that are owned by the depositors, usually within a defined geographic area. Often, credit unions’ …
What Happens When Credit Unions Are Creditors in New York Bankruptcy? Read More »
There are more ways for a chapter 13 New York bankruptcy case to end than to begin. Hopefully it ends with a discharge or a completed repayment plan, but some endings aren’t so fortunate. In particular, a chapter 13 case can end in dismissal for any of eleven reasons according to the Bankruptcy Code (11 …
Avoid a Dismissal of Your Chapter 13 Bankruptcy Case Read More »
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