The media report or dramatize appeals all the time. However, because bankruptcy courts are not typical federal courts created by Article III of the U.S. Constitution, you might want to know how appeals work in New York bankruptcy. Here’s the answer. 28 U.S.C. § 158 establishes the authority of federal district court in the district …
The big news in the education world is that Corinthian Colleges, a publicly traded company that owns three for-profit colleges, is in deep financial trouble. On June 19, 2014, the Department of Education believed that Corinthian was “falsifying job placement data used in marketing claims to prospective students, and [allegedly] altered grades and attendance.” As …
Beleaguered College Shows the Value of the ‘Closed School Discharge’ Read More »
File under non-bankruptcy options: What are some ways to pay down those credit card debts, stay out of New York bankruptcy, and possibly raise your credit score? Here are some answers: (1) Obtain your credit report. By federal law, you’re entitled to up to three free credit reports from the three credit reporting bureaus for …
Seven Tips for Paying Down Credit Card Debt and Raising Credit Scores Read More »
Americans are a mobile people, so it’s not unheard of for them to move while their bankruptcy cases are still pending. Fortunately, bankruptcy is a federal matter so it’s fairly easy to transfer a case from one bankruptcy court to another if the move is a significant distance. Whether yours is a New York bankruptcy …
What to Do If You Are Moving While in Bankruptcy Read More »
“Business bankruptcy” isn’t a legal term as there’s no designated chapter for businesses or businesspeople to file bankruptcy in. Thus, the correct question is which chapter is best for businesses and their principals to file in. The answer depends on the structure of the business and the principals’ goals for running it. For sole proprietorships …
What Chapter Is Best for a New York Business Bankruptcy? Read More »
For people who’ve filed chapter 13 bankruptcy attorney Brooklyn NY , the question of whether to pay off the repayment plan early sometimes arises. It’s a tempting idea. Repayment plans don’t leave much discretionary income for debtors, and escaping the process can feel like a reward in itself. However, there are a few reasons to …
It’s Not Always Worthwhile to Pay Off a Chapter 13 Plan Early Read More »
Although it’s difficult to discharge student loan debt in a New York bankruptcy, there is good news for student debtors: President Barack Obama recently acted to accelerate changes to the underused income-based repayment program for debtors with federal student loans, called pay-as-you-earn (PAYE). Going forward, many people who borrowed a federal loan before 2007 will …
Fed Survey Finds Widespread Ignorance on Student Loan Collections Read More »
If it was unclear whether an inherited individual retirement account (IRA) could be excluded from a New York bankruptcy, the U.S. Supreme Court has settled the issue. The topic came up late last year when the Court decided to hear the case. The lawsuit was between the bankruptcy petitioners, Heidi Heffron-Clark and Brandon Clark, and …
Supreme Court Holds Inherited IRAs Not (Directly) Exempt in Bankruptcy Read More »
Most New York bankruptcies are filed in chapter 7 because debtors have mainly unsecured consumer debts and don’t have the income for a chapter 13 repayment plan to be feasible. Others, though, prefer the benefits of chapter 13, but once they’re partway into it, they find that chapter 7 might be a better fit after …
Why Convert a Chapter 13 Bankruptcy to Chapter 7? Read More »
The term “proof of claim” comes up in New York bankruptcy sometimes, and debtors often want to know what it means. For creditors, receiving them during a debtor’s bankruptcy means they need to know how to complete them. So what are they? A proof of claim is a document a creditor in a bankruptcy files …
no cost, 30 minute consultations in brooklyn, ny or melville, li
26 Court St # 2211
Brooklyn, NY 11242,USA
phone: (718) 855-6840
toll free:(800) 297-6840
fax: (718) 625-1966
68 south service road, suite 100
melville, ny 11747
phone: (631) 454-5248
by appointment only
