We recently discussed the elements a trustee must prove to avoid (that is, invalidate) a preferential payment to a creditor made before a New York bankruptcy filing (called a “preference”). One requirement is that the payment occur within 90 days of the petition or between 90 days and one year of the petition if the
Partner and bankruptcy lawyers near me Bruce Weiner was recognized in the January issue of Brooklyn Barrister for his years of dedication to the Volunteer Lawyers Project providing pro bono work to indigent clients. Asked why he takes time out from his busy bankruptcy law practice to work for free, Mr. Weiner said “I believe very strongly
On Wednesday, January 29, the U.S. Department of Justice announced it would launch an investigation of the “Target data breach,” a break-in of the retailer’s security system late last year that allowed up to 40 million customers’ personally identifiable financial information to be stolen. The extent of the breach still isn’t known, such as whether
The topic of income tax refunds in bankruptcy has popped up on this blog in the past in the context of whether such a refund would put debtors over the median family income limit for the means test. With the New Year, though, as Americans calculate their incomes before the April 15th income tax deadline,
A while back we discussed what happens when a person inherits an underwater house. A similar situation is when a relative dies while in New York bankruptcy. This can be complicated for the heirs of the debtor who may inherit some of the debtor’s assets, if there are any. The outcome depends on what chapter
That’s the question raised by a USA Today article on the topic of medical debt in the age of the new health care law, the Patient Protection Affordable Care Act, or “Obamacare.” Medical debt was and still is the number one driver of New York bankruptcy. In many patients’ cases in previous years, lack of
Many debtors who are considering filing New York bankruptcy are often concerned about past taxes that they owe the government. But which government? Very few people owe anything other than federal income taxes and payroll taxes (or self-employment taxes for those who aren’t payroll employees). Some people, though, owe money to the state government, which
Most people who file chapter 7 bankruptcy in New York only intend to discharge credit card debt because mortgages and auto loans are secured by houses and cars, respectively, so debtors must continue payment on them to prevent foreclosure or repossession. Generally, though, a chapter 7 discharge applies to all unsecured debts, but that doesn’t
The New York Times greeted 2014 with an article detailing the allegedly “ruthless” tactics the Educational Credit Management Corporation (ECMC) uses when dealing with student loan debtors. Readers will recall ECMC as the creditor in recent student loan discharge cases that involve the issue of whether the debtor should be required to sign on to
Identity theft can sometimes lead to New York bankruptcy because thieves can take out loans in your name or spend income you need to repay loans. In extreme cases, identity thieves can declare bankruptcy in your name, which can seriously impair your creditworthiness. But just how widespread is identity theft? According to a report issued
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