I had a client situation recently that reminded me of how important preparation and know-how are when dealing with preference actions. The client had received a demand letter from a debtor in a Chapter 11 case (who has the powers of a trustee) informing him that he would be subject to a preference lawsuit unless …
Preference actions: The art of making them disappear Read More »
“Bruce Weiner Debt Case Studies” is a recurring feature on this blog that summarizes some of the facts in a client’s bankruptcy case. The goal is to share the kinds of real world circumstances that lead people to bankruptcy, and to demonstrate how the bankruptcy process and a good bankruptcy lawyer can help. Case Study: …
Bruce Weiner Debtor Case Studies: Other people’s debts Read More »
How do you know if you should file for Chapter 11 bankruptcy, rather than say Chapter 7 or Chapter 13 bankruptcy? I’ve worked for over 30 years as a bankruptcy lawyer in New York, and while Chapter 7 bankruptcy (aka liquidation) is by far the most common, and Chapter 13 bankruptcy (aka repayment plan) is …
Can my employer fire me for filing for bankruptcy? Can my employer fire me based on my race? No and no. You can’t be fired based on your race. And you can’t be fired just because you’ve filed for bankruptcy. The bankruptcy laws specifically prohibit firing an employee because of a bankruptcy filing. Many people …
Can my employer fire me for filing for bankruptcy? Read More »
How much does a bankruptcy filing affect your FICO score? In the big picture, this may not be the right question to ask. In 2010 FICO made public some–not all, just some–of the information behind their mysterious, black-box credit scoring system. The answer to the bankruptcy question is: It depends on the individual. But it appears …
How much will a bankruptcy filing affect my FICO score? Read More »
Elderly Americans are frequently victims of debt problems and need to file bankruptcy. Especially those on fixed incomes. However, many senior citizens don’t realize that they also have certain advantages afforded to them under the bankruptcy laws. For example, retirement accounts and social security income are almost always protected from creditors. And many senior citizens …
How does debt and bankruptcy affect senior citizens? Read More »
In a previous post (“Defenses to Preference Actions – Part I“), I explained that there are three common defenses to preference actions (also often called “preference lawsuits”) that you can use if you’ve received a demand letter from a bankruptcy trustee, from counsel to a Debtor-In-Possession or counsel to a creditors committee. In subsequent posts …
Preference Actions: What is the “New Value” defense? Read More »
In a previous post (“Defenses to Preference Actions – Part I“), I explained that there are three common defenses to preference actions (also often called “preference lawsuits”) that you can use if you’ve received a demand letter from a bankruptcy trustee, from counsel to a Debtor-In-Possession or counsel to a creditors committee. In a subsequent …
Preference Actions: What is the “contemporaneous exchange” defense? Read More »
In a previous post (“Defenses to Preference Actions – Part I“), I explained that there are three common defenses to preference actions (also often called “preference lawsuits”) that you can use if you’ve received a demand letter from a bankruptcy trustee, from counsel to a Debtor-In-Possession or counsel to a creditors committee. The first one …
Preference Actions: What is the “Ordinary Course of Business” Defense? Read More »
In previous posts on this site (What is a Preference? And why should you care? and Preference Actions: How to Defend Against Them), I’ve addressed the topic of preference actions (also commonly referred to as preference lawsuits). If you read those two posts, then you know that, from a creditor’s perspective: Preference actions seem unfair …
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