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 »
One might think that the answer to that question is “nothing,” but that’s not true. It is sometimes worthwhile for debtors to file chapter 13 New York bankruptcy intending to pay their creditors in full even if the discharge isn’t really necessary—a filing referred to as a 100 percent repayment plan. Obviously it doesn’t happen …
What Are the Benefits of a 100 Percent Chapter 13 Repayment Plan? Read More »
Debtors considering chapter 13 New York bankruptcy sometimes wonder how to craft their repayment plans when they anticipate significant events that are nearly certain to reduce or increase their incomes. For example, sometimes debtors know that a pregnant spouse will not be working for the beginning portion of the repayment plan but will be able …
Chapter 13 ‘Step Plans’ Can Help Debtors Accommodate Life Events Read More »
Debtors considering chapter 13 New York bankruptcy sometimes wonder how to craft their repayment plans when they anticipate significant events that are nearly certain to reduce or increase their incomes. For example, sometimes debtors know that a pregnant spouse will not be working for the beginning portion of the repayment plan but will be able …
Chapter 13 ‘Step Plans’ Can Help Debtors Accommodate Life Events Read More »
Debtors considering chapter 13 New York bankruptcy sometimes wonder how to craft their repayment plans when they anticipate significant events that are nearly certain to reduce or increase their incomes. For example, sometimes debtors know that a pregnant spouse will not be working for the beginning portion of the repayment plan but will be able …
Chapter 13 ‘Step Plans’ Can Help Debtors Accommodate Life Events Read More »
Debtors considering chapter 13 New York bankruptcy sometimes wonder how to craft their repayment plans when they anticipate significant events that are nearly certain to reduce or increase their incomes. For example, sometimes debtors know that a pregnant spouse will not be working for the beginning portion of the repayment plan but will be able …
Chapter 13 ‘Step Plans’ Can Help Debtors Accommodate Life Events Read More »
Getting married in the middle of a New York bankruptcy probably isn’t anyone’s idea of romance, but perhaps there’s a certain sentimentalism to it. For chapter 7 cases, it’s pretty easy: The debtor’s situation as of the filing date matters most, so getting married after that is unlikely to change anything unless you were cohabitating …
Getting married in the middle of a New York bankruptcy probably isn’t anyone’s idea of romance, but perhaps there’s a certain sentimentalism to it. For chapter 7 cases, it’s pretty easy: The debtor’s situation as of the filing date matters most, so getting married after that is unlikely to change anything unless you were cohabitating …
People who are interested in filing chapter 13 New York bankruptcy will obviously want to know if they meet all the chapter’s requirements, which are stricter than chapter 7’s. For example, it has debt limits, above which debtors must file in chapter 7 or chapter 11, but Section 109(e) also restricts chapter 13 to “individuals …
What Is an ‘Individual With a Regular Income’ in Chapter 13? Read More »
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 …
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