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.

Annie Leibovitz avoids mandatory credit counseling in New York

Annie Leibovitz

ABC News reports that Annie Leibovitz reached an agreement with her creditors that, at least for now, staves off the need for a bankruptcy filing.

What if Annie Leibovitz had filed for bankruptcy in New York?

Would she have to go through mandatory credit counseling (cost:  $50) as required by the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA)?  Would she have to sit through a class with the huddled masses that tells her how she could have been a little more fiscally responsible with all of her multi-million dollar homes and valuable photograph collections?

The answer is yes, she would be subject to the mandatory credit counseling requirement.  And it wouldn’t matter if she filed for Chapter 7, Chapter 11 or Chapter 13.

However, she would not have to sit in a class with the huddled masses, because the mandatory credit counseling requirement can be fulfilled by online courses as well as over the phone (unlike, say, traffic school).

Hopefully Ms. Leibovitz will not have to file for bankruptcy.  But if she does, it’s good to know she has a few options.  And if she’s reading this, she’s hopefully a bit relieved to hear that if she did need to take the mandatory credit counseling course, she could do it in the privacy of one of her many homes.

Though in the bigger picture, this hypothetical really just helps demonstrate the inanity of the mandatory credit counseling requirement under BAPCPA.  Is a one-size-fits-all-debtors credit counseling course really the kind of help that someone like Annie Leibovitz needs right now?  Probably not.

If you’re seeking bankruptcy lawyer Brooklyn NY, please feel free to contact me for a free initial consultation to discuss your situation.  Whether you’re Annie Leibovitz or Auntie Em, I’ll help you figure out the best options and strategy available.

Go to to learn more about Rosenberg Musso & Weiner LLP and/or to set up a free consultation.

Rosenberg, Musso & Weiner, L.L.P
26 Court St # 2211
Brooklyn, NY 11242, USA

Recent Posts

Beware Grace Periods, Debtors

Too often, debtors see grace periods offered by lenders as free benefits. “Grace” makes it sound so innocent. However, debtors who routinely rely on grace periods when making payments will find themselves facing financial difficulties that might lead to bankruptcy. The reason is that although creditors offer grace periods to debtors, they also use them

Read More »

Bankruptcy May Not Rescue You From Vicious Personal Disputes

Bankruptcy is a technical process that assumes everyone working within it is mostly rational. To the extent that it expects parties to deviate from irrational behavior, the Bankruptcy Code and its accompanying rules include incentives to keep parties in line. Creditors are usually large and impersonal, and they rarely care if their debtors file bankruptcy.

Read More »

Non-Lawyers’ Explanations of Bankruptcy May Be Wrong

Do you have financial problems? Do you tend to ask your friends for advice? Is one of your friends an experienced New York bankruptcy lawyer who will explain the process for you? Are your friends otherwise knowledgeable people? The answer to these questions may be, “Yes but you don’t know it.” Although many bankruptcy lawyers

Read More »

6 Steps to Take Before Filing Bankruptcy

Leaving your case to an experienced New York bankruptcy lawyer is not the only step on the to-do list before filing bankruptcy. There are many things debtors should do (and not do) before they file, and the more organized and mindful debtors are, the easier the process will be and the more effective the result.

Read More »

Social Security Number Not Necessary for Bankruptcy

A question that’s commonly asked about New York bankruptcy is whether a debtor needs a Social Security number to file. Debtors ask because they sometimes run across the bankruptcy form title, “Your Statement About Your Social Security Numbers” (B 121), which asks debtors to list their current and prior Social Security numbers. The new 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

Read More »
Scroll to Top