The Bankruptcy Code is full of deadlines. Examples abound: Courts will presume nondischargeable any luxury goods or services debtors purchase on or within 90 days of their petitions. The same goes for cash advances made on or within 70 days bankruptcies. Creditors have until 60 days after the first meeting of the creditors to challenge …
(Click here to read, “Who Are Chapter 11 Bankruptcy Debtors?” part 1.) This post continues my analysis of the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) Report for 2016, specifically its data on chapter 11. Aside from displaying national information, these posts relate it to Brooklyn bankruptcy and New York bankruptcy. The report is …
Who Are Chapter 11 Bankruptcy Debtors? (Part 2 of 2) Read More »
(Click here to read, “Who Are Chapter 13 Bankruptcy Debtors?” part 1.) In the first post on this topic, I displayed tables from the 2016 Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) Report. The report contains a large amount of information, albeit with a little less detail than one would hope, that can help …
Who Are Chapter 13 Bankruptcy Debtors? (Part 2 of 2) Read More »
I recently completed a series of posts providing data on who chapter 7 New York bankruptcy debtors are. The source, the 2016 Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) Report, can help answer questions about the characteristics of bankruptcy filings in most chapters, and today I’ll focus on the next most common chapter New …
I recently analyzed bankruptcy data to find out who chapter 7 New York bankruptcy debtors are. The dataset came from the federal courts’ 2016 BAPCPA Report, which contains information on people who file bankruptcy but owe mainly consumer debts. However, not all bankruptcy debtors are consumer debtors, so the post gave incomplete information on how …
How Many People File New York Bankruptcy Each Year? Read More »
(Click here to read, “Who Are Chapter 7 Bankruptcy Debtors?” part 1.) In part 1 of this two-post series, I showcased two tables from the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) Report for 2016. The information in the tables can help debtors with consumer debts answer common questions they have about Brooklyn bankruptcy …
Who Are Chapter 7 Bankruptcy Debtors? (Part 2 of 2) Read More »
The Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) of 2005 changed the Bankruptcy Code in many ways that made it harder for debtors to file a simple chapter 7 bankruptcy. However, one potentially positive change it made is requiring federal courts to track data on bankruptcy cases. The information they collect is not particularly …
Most bankruptcy debtors intuitively understand that they should file their cases close to where they live: Manhattan Bankruptcy is handled in Manhattan, Brooklyn bankruptcy in Brooklyn, and Suffolk County bankruptcy in Central Islip, etc. Because New Yorkers live in dense environs, there can be circumstances where a bankruptcy court in an adjacent jurisdiction is more …
The Wall Street Journal published an article showcasing a nonprofit startup that is writing software ala Intuit’s TurboTax that’s designed to make it easier for indigent people to file bankruptcy. This is a laudable goal because many debtors’ can’t afford an experienced New York bankruptcy lawyer to handle their cases, and the filing fees are …
When Debtors Are Too Poor for Bankruptcy Filing Fees Read More »
Negotiating a mortgage modification is an alternative to New York bankruptcy that frequently pops up, even though the Home Affordable Mortgage Program was not so successful. Nevertheless, modifications are perfectly reasonable. Debtor-homeowners can reduce their interest rates and monthly payments to align their mortgage costs with their incomes, particularly when they’ve lost substantial equity in …
A Mortgage Modification Can Stymie a Chapter 13 Bankruptcy Read More »
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