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Is a Personal Injury Judgment in New York Dischargeable in Bankruptcy?

Recently, we discussed protecting personal injury settlements in bankruptcy. Those who receive money in a civil action list it as an asset, something one wants to protect in bankruptcy via an exemption. Today, we’re discussing the opposite situation: personal injury judgments against a petitioner in New York bankruptcy. If you have a judgment against you,

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Can creditors ask the Bankruptcy Court to lift the Automatic Stay?

The short answer is, “Yes, but…” The automatic stay is one of the most important protections bankruptcy petitioners receive, so in practice, very few creditors can actually successfully argue a “motion for relief from stay,” also called a, “motion to lift the stay.” Unsecured creditors can almost never convince the bankruptcy court to lift the

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Why Do Banks in New York Offer People Credit Cards after Bankruptcy?

The story is not as uncommon in New York as you might think. A New York debtor files a Chapter 7 bankruptcy. Then, mere months after obtaining a discharge, the banks start aggressively sending out letters offering new credit cards with low rates and high credit limits. This doesn’t make any sense at all. Why

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Assigning Dollar Values to Your New York Small Business in Bankruptcy

When people file bankruptcy in New York, they have to list their assets and debts on their petition. These are usually fairly straightforward: houses, cars, and other personal property. The value of these items is easy to calculate. However, many petitioners operate their own businesses, and the process of valuing them is not so obvious.

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Chapter 13 Debt Limits Won’t Stymie Your New Bankruptcy

The most common route for filing bankruptcy in New York is file for Chapter 7 bankruptcy. It’s quicker than Chapter 13 and allows people to discharge many types of debt. In some cases, though, a person may be ineligible for Chapter 7 and must file in Chapter 13, which is often called a “wage earners

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How to Challenge Charges on Your Credit Card Bill

Finding a questionable or incorrect charge on a credit card statement probably happens to most New Yorkers at least once. Most people’s natural inclination is to call the creditor and try to work it out over the phone. If that doesn’t work, the law is on your side, but it’s a slow process involving the

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Collecting on discharged debts in New York is illegal

As you can imagine, the light at the end of the New York bankruptcy tunnel is a discharge order from a bankruptcy judge. A discharge means that creditors cannot attempt to extract payments on these debts and must write them off themselves. It also means that you now have an opportunity to start over and

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Twelve Documents to Bring to Your First Consultation with Your New York Bankruptcy Attorney (Part 1)

If you’ve set up a free bankruptcy consultation in New York, in all likelihood you will be nervous about your first meeting with your bankruptcy attorney. Financial matters are incredibly personal, and people have a natural inclination against discussing debt with strangers. However, if you bring the necessary paperwork, your first meeting will go more

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