You filed for bankruptcy in New York. You succeeded in getting a discharge. You’re in the clear. What happens next? If you’re not careful, you can end up right back in the situation that led to bankruptcy in the first place. Except that the law prohibits you from filing for bankruptcy again for another 8 …
According to a recent report from the Federal Reserve Bank of New York, credit card delinquency rates are on the rise. This is particularly true among the young. In 2009, during the Great Recession, the Card Act made recruiting college students more difficult for credit card companies. As a result, fewer young people had credit …
In the bankruptcy world, there are a lot of terms with the word “debt” in them, that tend to blur together for the average non-lawyer, such as: Debt relief agency Debt relief Debt settlement Debt consolidation While numbers 2, 3 and 4 are frequently heard in shady TV ads hawking services that sound too good …
In my previous post on preference actions, I wrote about how I was able to help a previous client head off a preference action before it even began thanks to sound analysis of the situation, thorough preparation and effective presentation to opposing counsel. That said, there are also situations where baring your teeth may not …
The answer, fortunately, is no. There is no longer such thing in the U.S. (nor in most civilized countries) as debtors’ prison. So why even mention the possibility? Because debt collectors are getting more aggressive than ever and willing to cross lines without a second thought. So if a debt collector threatens you with the …
I had a client situation recently that reminded me of how important preparation and know-how are when dealing with preference actions. The client had received a demand letter from a debtor in a Chapter 11 case (who has the powers of a trustee) informing him that he would be subject to a preference lawsuit unless …
Preference actions: The art of making them disappear Read More »
“Bruce Weiner Debt Case Studies” is a recurring feature on this blog that summarizes some of the facts in a client’s bankruptcy case. The goal is to share the kinds of real world circumstances that lead people to bankruptcy, and to demonstrate how the bankruptcy process and a good bankruptcy lawyer can help. Case Study: …
Bruce Weiner Debtor Case Studies: Other people’s debts Read More »
How do you know if you should file for Chapter 11 bankruptcy, rather than say Chapter 7 or Chapter 13 bankruptcy? I’ve worked for over 30 years as a bankruptcy lawyer in New York, and while Chapter 7 bankruptcy (aka liquidation) is by far the most common, and Chapter 13 bankruptcy (aka repayment plan) is …
Can my employer fire me for filing for bankruptcy? Can my employer fire me based on my race? No and no. You can’t be fired based on your race. And you can’t be fired just because you’ve filed for bankruptcy. The bankruptcy laws specifically prohibit firing an employee because of a bankruptcy filing. Many people …
Can my employer fire me for filing for bankruptcy? Read More »
How much does a bankruptcy filing affect your FICO score? In the big picture, this may not be the right question to ask. In 2010 FICO made public some–not all, just some–of the information behind their mysterious, black-box credit scoring system. The answer to the bankruptcy question is: It depends on the individual. But it appears …
How much will a bankruptcy filing affect my FICO score? Read More »
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