Free Consultation
The office is open as per the NYS Covid-19 guidelines. We are now doing both in-person and telephone consultations. Please call the office at 718-855-6840 to schedule a time to speak with one of our experienced bankruptcy attorneys.

Exemptions

‘Avoiding’ Liens in New York Bankruptcy

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 …

‘Avoiding’ Liens in New York Bankruptcy Read More »

‘Avoiding’ Liens in New York Bankruptcy

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 …

‘Avoiding’ Liens in New York Bankruptcy Read More »

What Documents Must Debtors File to Meet Their Duties in Bankruptcy?

The Bankruptcy Code obligates a debtor to fulfill a number of duties to successfully complete a New York bankruptcy. Failure to do so can result in penalties ranging from dismissal to revocation of a discharge order to criminal penalties for bankruptcy fraud. 28 U.S.C. § 521 divides the debtor’s duties into ten subsections, and most …

What Documents Must Debtors File to Meet Their Duties in Bankruptcy? Read More »

Can I give away property before I file for bankruptcy in New York?

For New Yorkers thinking about a bankruptcy filing, it’s tempting.  You have a very valuable asset, perhaps some land or art or a car, and you don’t want to risk losing it to creditors.  So you give it away to your brother, a friend, one of your children. Is this kosher under the bankruptcy laws? …

Can I give away property before I file for bankruptcy in New York? Read More »

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, then you can keep your home as long as the remaining equity in your home …

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

Bankruptcy, social safety nets and planning ahead

The credit industry lobby did a terrific job of portraying bankruptcy as the refuge of the irresponsible.  Hence the 2005 “Bankruptcy Abuse Prevention and Consumer Protection Act” (sometimes jokingly referred to as the “Bankruptcy Protection Prevention and Consumer Abuse Act,” which for the record would be BPPCAA). As those of us who work in the …

Bankruptcy, social safety nets and planning ahead Read More »

Why Hire an Experienced Chapter 7 Brooklyn Bankruptcy Lawyer

Debtors usually point to two reasons for not hiring an experienced Brooklyn bankruptcy lawyer before filing a chapter 7 case: affordability and necessity. Obviously, many people who owe significant debts frequently lack the money for a bankruptcy attorney. (As an aside, there are options for debtors who are too poor for bankruptcy filing fees.) The …

Why Hire an Experienced Chapter 7 Brooklyn Bankruptcy Lawyer Read More »

Stripping a Lien Is Not the Same as Avoiding a Lien

New York bankruptcy debtors can sometimes be confused by bankruptcy terminology, one such example is the difference between “stripping” a lien and “avoiding” a lien. Both processes affect liens, but in very different ways and different contexts. Here’s the distinction. In chapter 13, a New York bankruptcy debtor can try to strip, that is, eliminate, …

Stripping a Lien Is Not the Same as Avoiding a Lien Read More »

Social Security Is Exempt From Bankruptcy, Unless…

Older chapter 7 New York bankruptcy debtors almost always ask if cash from their Social Security incomes are exempt in bankruptcy. The general answer is yes, Social Security income is exempt in bankruptcy and won’t count towards means test totals. In other words, bankruptcy treats Social Security income as though it wasn’t there. The policy …

Social Security Is Exempt From Bankruptcy, Unless… Read More »

Scroll to Top