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Chapter 7 Bankruptcy

BAPCPA Man #2 – Automatic Stay Forcefield

With permission from Bankruptcy Bill himself, here’s BAPCPA Man’s latest heroics, this time in connection with the automatic stay which he appropriately likens to a forcefield. The cartoon also illustrates a good point about electronic filing, namely that bankruptcy lawyers don’t physically go to the courthouse, but instead usually file cases electronically from the computer …

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BAPCPA Man: A new cartoon hero for the bankruptcy world

The creators of the Bankruptcy Bill cartoon (http://bankruptcybill.us) have unveiled a new cartoon hero called BAPCPA Man who will presumably fight for the bankruptcy rights of individuals throughout this great nation.  (BAPCPA, for the record, is the acronym for the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005.) Bankruptcy Attorney Brooklyn NY This could …

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New York personal bankruptcy rate likely to continue to increase

New York’s unemployment rate has increased to 8.7% from 8.2%, the worst it’s been since October 1992.  (FYI, the national rate just moved from 9.4% up to 9.5%, so New York is doing relatively well, but still…) On healthcare, our government is facing an uphill battle in creating some sort of national healthcare option that …

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What you should know about the credit counseling requirement

“Credit counseling” has a couple different meanings and common uses, and it can be very confusing for anyone considering bankruptcy in New York.  So I thought I would to take a moment to clarify. One meaning is the credit counseling requirement under the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act (aka BAPCPA).  All individual …

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New Bankruptcy FAQ section

Just want to let everyone know that the Bankruptcy FAQ section from our website is now also available on this blog. In the Bankruptcy FAQ section, you can find answers on the following topics: What disclosures must a collection agency provide to a debtor? What actions must a collection agency avoid? Are there any alternatives …

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Why did Lenny Dykstra file for Chapter 11?

You’ve probably heard by now that former New York Met star Lenny Dykstra (aka “Nails”) filed for Chapter 11 bankruptcy and all about his financial woes stemming from litigation, divorce, foreclosure, etc. But why Chapter 11?  Isn’t Chapter 11 bankruptcy for companies?  And don’t individuals usually file for Chapter 7 liquidation?  Or maybe for Chapter …

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How NOT to declare bankruptcy

A short (and funny) video from the TV show The Office that shows how not to declare bankruptcy–in Scranton, PA, in New York or anywhere else: [youtube=http://www.youtube.com/watch?v=HuGIgf-ICHM] The real way to “declare” bankruptcy in New York is to file a petition with the Bankruptcy Court. You might be surprised, however, to learn that most lawyers …

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Bankruptcy Myths on New York’s CBS News

If you’re considering filing for bankruptcy lawyer Brooklyn NY, this news report by New York’s CBS News is worth a quick watch. Though interestingly, towards the end of the report reporter Kirstin Cole rightfully point out to be wary of debt settlement companies.  However, at the very end the anchor seemingly contradicts Cole by instructing …

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Preference lawsuits: How to defend yourself

In a previous post I explained to all the New Yorkers out there what a preference lawsuit is and why you should care. While reading it may have helped make you feel smart at cocktail parties, in the back of your mind you were probably also wondering, “So what exactly should I do if I’m …

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What is a preference payment? And why should you care?

Let’s say someone owes you money.  You know they’re having financial difficulties, so you go to them and try to get them to pay it back to you before they file for bankruptcy.  You have a good relationship with them and they’re kind enough to make sure you get paid back. Three weeks later, the …

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