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Six Situations in Which a Discharge Order Can Be Revoked

Although some people file New York bankruptcy to halt a foreclosure with the automatic stay or strip a lien, in nearly all cases debtors seek a discharge. However, there are six situations in which a bankruptcy court can revoke a discharge order that’s already been entered. They’re listed in Section 727(d) of the Bankruptcy Code: …

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What Are the Benefits of a 0 Percent Chapter 13 Repayment Plan?

Nope, that’s not a typo. There is such a thing as a zero-percent chapter 13 plan. Although, it is a misnomer in that the debtor is actually going to make some payments on the plan. (Otherwise it would be absurd.) Consequently, a zero-percent plan isn’t the opposite of the more commonly known 100 percent chapter …

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It’s Possible to Receive Notice of an Adversary Proceeding in the Mail

For creditors who need help on the New York bankruptcy defense side or those who have filed a bankruptcy themselves but need to initiate an adversary proceeding against creditors or the trustee, it is in fact possible to effect “service of process” via the U.S. postal system. Usually service of process, the system of giving …

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It’s Possible to Receive Notice of an Adversary Proceeding in the Mail

For creditors who need help on the New York bankruptcy defense side or those who have filed a bankruptcy themselves but need to initiate an adversary proceeding against creditors or the trustee, it is in fact possible to effect “service of process” via the U.S. postal system. Usually service of process, the system of giving …

It’s Possible to Receive Notice of an Adversary Proceeding in the Mail 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 …

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The Benefits of a Short Tax Year Election to a Bankruptcy Filing

The last thing people who are considering filing bankruptcy in New York are probably interested in is filing two tax returns in one year.  Yet it is not only possible but also worthwhile to do in certain circumstances. First, what are we talking about? Federal law allows individual debtors (i.e. non-businesses) in chapter 7 or …

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‘Abandoned’ Business Assets in Bankruptcy

It’s a sad truth that many businesses in New York fail, prompting twin chapter 7 bankruptcies for both the business and the owner. The two most common causes of businesses shutting their doors is lack of sales (obviously) and liquidity problems, which usually involve solid sales, but the business nevertheless can’t pay its creditors because …

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Preferences vs fraudulent conveyances in New York: What’s the difference?

For New Yorkers involved with the bankruptcy process, whether debtors or creditors, the concepts of “preferences” and “fraudulent conveyances” often cause confusion.  (Actually, it’s not just laypeople.  They cause confusion for many law students and even some lawyers as well.) They cause confusion because they both often relate to attempts by debtors to keep certain …

Preferences vs fraudulent conveyances in New York: What’s the difference? Read More »

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