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Can I keep my home if I file for bankruptcy in New York?

Yes, you can keep your home if you file for bankruptcy in New York. But it’s not a given.  And depending on your circumstances, there are a few different ways to do it. If you file for Chapter 7 bankruptcy Brooklyn NY, then you can keep your home as long as the remaining equity in …

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What will happen at my 341 meeting of creditors in New York?

It’s very common for clients filing for personal bankruptcy to worry about the 341 Meeting of Creditors.  It’s the first “event” in a bankruptcy case and the first time for most clients to actually go to court.  (Though it’s usually the only time the client needs to go to court in a bankruptcy case.) A …

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BAPCPA Man meets Subprimulus!

With permission from Bankruptcy Bill himself, here’s BAPCPA Man #3 where BAPCPA Man meets the ominous-looking villain Subprimulus. (Click on image to see larger version.) The cartoon touches on a number of important themes, including: The mandatory pre-bankruptcy credit counseling requirement (addressed in previous post on this blog titled “What You Should Know About the …

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Debt management and debt settlement companies invade Twitter-sphere!

Since setting up a Twitter account (http://twitter.com/nybankruptcynet), I’ve acquired a number of followers who are both nice and interesting. However, there are two categories of Twitter followers who are more persistent than others and who I block every time: Representatives of the oldest profession, and Debt settlement and debt management companies (I apologize for having …

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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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Debt settlement company exposed by ABC News

“We’ll help you settle your debts for pennies on the dollar.” Sound familiar?  Maybe you’ve seen these Credit Solutions ads on TV, on the internet or even in the New York subway.  ABC News recently ran a segment where they investigated Credit Solutions and the debt settlement industry, which revealed that the debt settlement company …

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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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Foreclosure mediation and other new ways to encourage loan modification

As New Yorkers and the rest of America brace for more foreclosures, the loan modification option has not helped as much as hoped.  As a result, a number of states have been implementing foreclosure mediation programs and other alternative dispute resolution options aimed at nudging more mortgage banks to the negotiating table. The Center for …

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