Sometimes an odd situation appears in New York bankruptcies. A debtor gets everything in order, files for bankruptcy, and then discovers that one of his or her bank accounts is frozen even though the bank isn’t one of the debtor’s creditors. It’s bizarre but it can happen. One would think the automatic stay would protect …
The New York Times recently published an article about debt collectors who resort to using pseudonyms when calling debtors. They justify this behavior because they claim the debtors their agents call routinely threaten them with violence. The Times did manage to point out that the Federal Trade Commission reported that the number of complaints against …
Debt collectors using pseudonyms in New York may be breaking the law Read More »
Most people only consider filing bankruptcy in New York as a last resort to their financial problems. They’ve usually missed payments on some of their loans, often credit card or mortgage debt, and their credit ratings will have dropped rapidly with a series of missed payments. In many circumstances, though, people find that their credit …
Filing bankruptcy in New York can actually improve your credit score Read More »
As you can imagine, the light at the end of the New York bankruptcy tunnel is a discharge order from a bankruptcy judge. A discharge means that creditors cannot attempt to extract payments on these debts and must write them off themselves. It also means that you now have an opportunity to start over and …
Collecting on discharged debts in New York is illegal Read More »
Imagine you are sitting in your New York home enjoying dinner with your family. The phone rings. Mispronouncing your name, the person on the other end asks if you’re available. You ask who it is. The voice says he selling new decks and that you badly need a new one. You hang up the phone …
Auto-Dialed by a Collector in New York? Know Your Rights! Read More »
In Part 1, we discussed the various documents that you should consider bringing to your first free bankruptcy consultation with your New York bankruptcy attorney. Our goal is to relieve you of some of your anxiety as you begin the bankruptcy process. Gathering the necessary documents will ease some of your fears. Doing so will …
If you’ve set up a free bankruptcy consultation in New York, in all likelihood you will be nervous about your first meeting with your bankruptcy attorney. Financial matters are incredibly personal, and people have a natural inclination against discussing debt with strangers. However, if you bring the necessary paperwork, your first meeting will go more …
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 for 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 …
Preferences vs fraudulent conveyances in New York: What’s the difference? Read More »
If you are facing foreclosure on your home in New York and you file for bankruptcy, will the automatic stay protect your home from foreclosure? The answer: Yes and no. Once you file for bankruptcy, the automatic stay goes into effect and prohibits any creditors from taking any actions to collect money or assets from …
Will the automatic stay protect me from foreclosure in New York? Read More »
You may know how a New York bankruptcy case begins. (Your lawyer e-files your case with the court.) But what’s the event that signals the end of a bankruptcy case? There are actually several ways a bankruptcy case can end. Discharge: For Chapter 7 or Chapter 13 bankruptcy, discharge is the most common outcome. And …
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