Most New York bankruptcy debtors are fortunate to walk the streets freely, but some people who might need to file bankruptcy aren’t so lucky. Off the bat, though, the Bankruptcy Code does not limit the right of debtors to file from within detention, jail, or prison. This is quite fortuitous because it’s usually impossible to …
The meeting of the creditors that occurs at the beginning of a New York bankruptcy case shortly after it’s filed is one of the few times the debtor must appear at the bankruptcy court. Moreover, the creditors themselves are rarely present, and the meeting itself is conducted by the trustee, who will question the debtor …
What Questions Must a Trustee Ask at a Chapter 7 Meeting of the Creditors? Read More »
A meeting of the creditors, “341 meeting” for short, occurs in every New York bankruptcy case, even the kinds you read about in the business news. After learning about what will happen at a 341 meeting of creditors debtors may ask whether they can be excused from it, or if their New York bankruptcy lawyer …
What If I Can’t or Don’t Want to Attend the Meeting of the Creditors? Read More »
Of all the players in a New York bankruptcy, debtors are probably least familiar with the trustee. The trustee is tasked by the bankruptcy court to administer the bankruptcy estate for the benefit of the creditors. This means that generally the trustee’s responsibilities are at odds with a debtor’s interest in exempting as much property …
A few weeks ago, I discussed when New York bankruptcy debtors need to appear at the bankruptcy court. A question that commonly follows is, “What do I wear and how do I behave?” Okay, that’s two questions but they’re essentially the same: How should debtors comport themselves when they appear at bankruptcy court? The short …
What to Wear and How to Behave in Bankruptcy Court Read More »
New York bankruptcy debtors tend to think that bankruptcy court is just like what they see on television. This would be the standard portrayal of a high-ceiling courtroom with two tables facing the judge, one for the debtor and his or her counsel and one for all the creditors’ lawyers. Then they argue the merits …
When Will I Need to Appear at the Bankruptcy Court? Read More »
Many working debtors have retirement accounts, chiefly investment retirement accounts (IRAs) or 401(k) accounts through their employers. These accounts are assets, but New York bankruptcy exemption rules shield them completely while the federal exemptions protect them up to an enormous amount—more than $1.2 million. Debtors sometimes ask whether retirement contributions are allowed in bankruptcy, but …
Increasing Retirement Contributions (IRA, 401(k)) Before Bankruptcy Read More »
Most New York bankruptcy cases end with a discharge and then a final decree. With that the case is closed, and debtors get their fresh starts. Occasionally, debtors will want to reopen their bankruptcy cases, but it’s usually for technical reasons. But what if the trustee wants to reopen a case? If so, then the …
When Can a Trustee Reopen a Closed Bankruptcy Case? Read More »
Sometimes after bankruptcy cases are closed or dismissed, debtors will want to reopen them for a variety of reasons depending on the circumstances. Bankruptcy courts have substantial power to grant debtors requests to reopen their cases, so it can be helpful to know when it’s allowed, especially when self-represented debtors’ cases were dismissed due to …
When Can a Debtor Reopen a New York Bankruptcy Case? Read More »
The trustee in a New York bankruptcy case will probably be a nice person. My practice represents them, even. For consumers, though, the trustee’s congeniality might be confused with his or her responsibilities. The trustee’s responsibility is to the bankruptcy system, specifically the estate that’s created by the bankruptcy filing. Thus, the trustee does not …
Bankruptcy Questions? Contact Your Lawyer, Not the Trustee Read More »
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