For creditors who need help on the New York bankruptcy defense side or those who have filed a bankruptcy themselves but need to initiate an adversary proceeding against creditors or the trustee, it is in fact possible to effect “service of process” via the U.S. postal system. Usually service of process, the system of giving
For creditors who need help on the New York bankruptcy defense side or those who have filed a bankruptcy themselves but need to initiate an adversary proceeding against creditors or the trustee, it is in fact possible to effect “service of process” via the U.S. postal system. Usually service of process, the system of giving
All over New York there were discouraging signs. “Retail Space for Rent” almost always indicated a business that had gone out of business. When businesses fail, other businesses in the neighborhood notice, as do related businesses. And yet businesses keep going as long as they can. In fact, the only section of our economy that
All over New York there were discouraging signs. “Retail Space for Rent” almost always indicated a business that had gone out of business. When businesses fail, other businesses in the neighborhood notice, as do related businesses. And yet businesses keep going as long as they can. In fact, the only section of our economy that
Most of the time when the term “avoid” comes up in New York bankruptcy it’s used in the context of preferential transfers to creditors. That is, the debtor transfers money to a creditor he or she likes more than the others, such as a relative, and the trustee chooses to nullify (“avoid”) the transfer. The
Most of the time when the term “avoid” comes up in New York bankruptcy it’s used in the context of preferential transfers to creditors. That is, the debtor transfers money to a creditor he or she likes more than the others, such as a relative, and the trustee chooses to nullify (“avoid”) the transfer. The
New York bankruptcy requires debtors to pay some creditors what they are owed before others. These are called “priority claims” or “priorities” in the Bankruptcy Code. In chapter 13, for instance, creditors with priority claims must be repaid in full. Consequently, it’s important for debtors to have an idea of what these kinds of claims
If you are considering filing New York bankruptcy, you might have heard of a program called the Earned Income Tax Credit (EITC), and you may be curious if it can help you instead. Chances are it can. The EITC is a mid-1970s policy enacted by Congress that’s designed to help American workers stay above water
The only section of our economy that behaved normally during 2020 belonged to those who filed under chapter 11, which has always been, and continues to be, for big business reorganization. New York City was the hardest hit of any American city with, at last count, more than 24,000 deaths linked to the virus. Many New
If a creditor claims that someone who is about to file New York bankruptcy has waived his or her right to discharge the debt, its claim will almost certainly be rejected. Anyone who signs a form promising to not discharge a debt is probably going to be protected by the law. It would defeat the
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