The goal of a bankruptcy case is to get the discharge. This is true whether your bankruptcy is in Brooklyn, Queens, Manhattan, Long Island or anywhere else in New York or the rest of the U.S. And it’s the same whether it’s a Chapter 7, Chapter 11 or Chapter 13 bankruptcy. The discharge is what …
Are any debts non-dischargeable in a bankruptcy case in New York? Read More »
Bankruptcy is often a counter-intuitive process. Some things that seem innocuous or insignificant may be anything but. In particular, there are some common mistakes that people make in perfectly good faith. If you’re thinking of filing for bankruptcy in New York, here are a few things to be aware of. 1. Don’t withdraw your retirement …
Bankruptcy Mistakes: Don’t do these things before you file for bankruptcy in New York Read More »
Q: Since all of my debts will be discharged after I file for bankruptcy, should I go ahead and max out my credit cards before I file for bankruptcy in New York? A: NO. DO NOT RUN UP BIG CREDIT CARD BILLS BEFORE YOU FILE FOR BANKRUPTCY IN NEW YORK. If the bankruptcy judge believes …
Should I max out my credit cards before I file for bankruptcy? Read More »
Yes, you can rebuild your credit within a few years if you’re careful about your finances and pay your bills on time after you’re done with your bankruptcy case. A lot of people worry about their credit history when they consider filing for bankruptcy in New York. It’s a legitimate concern and a healthy impulse …
Can I rebuild my credit after bankruptcy in New York? Read More »
Yes, you can keep your home if you file for bankruptcy in New York. But it’s not a given. And depending on your circumstances, there are a few different ways to do it. If you file for Chapter 7 bankruptcy, then you can keep your home as long as the remaining equity in your home …
Can I keep my home if I file for bankruptcy in New York? Read More »
If you live in New York and are being called by debt collection agencies at all hours of day and night or at work, or if you feel like you are a victim of harassment by debt collection agencies, you do have some options for dealing with the problem. Which option you choose depends on …
Dealing with debt collector harassment in New York Read More »
It’s very common for clients filing for personal bankruptcy to worry about the 341 Meeting of Creditors. It’s the first “event” in a bankruptcy case and the first time for most clients to actually go to court. (Though it’s usually the only time the client needs to go to court in a bankruptcy case.) A …
What will happen at my 341 meeting of creditors in New York? Read More »
The credit industry lobby did a terrific job of portraying bankruptcy as the refuge of the irresponsible. Hence the 2005 “Bankruptcy Abuse Prevention and Consumer Protection Act” (sometimes jokingly referred to as the “Bankruptcy Protection Prevention and Consumer Abuse Act,” which for the record would be BPPCAA). As those of us who work in the …
Bankruptcy, social safety nets and planning ahead Read More »
In a previous post I explained to all the New Yorkers out there what a preference lawsuit is and why you should care. While reading it may have helped make you feel smart at cocktail parties, in the back of your mind you were probably also wondering, “So what exactly should I do if I’m …
Let’s say someone owes you money. You know they’re having financial difficulties, so you go to them and try to get them to pay it back to you before they file for bankruptcy. You have a good relationship with them and they’re kind enough to make sure you get paid back. Three weeks later, the …
What is a preference payment? And why should you care? Read More »
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