Brooklyn Bankruptcy Archives - Page 9 of 27 - Bankruptcy Attorney in Brooklyn, New York

How to Find Information About a Bankruptcy Case (Without Talking to Your Lawyer)

Because most New York bankruptcy cases are filed by debtors who are unfamiliar with the process, undoubtedly many want information about their cases’ progress. The same goes for creditors who have been informed of their debtors’ bankruptcies. Good bankruptcy attorneys naturally supply their clients with new developments as they arise, but with the rapid advances …

How to Find Information About a Bankruptcy Case (Without Talking to Your Lawyer) Read More »

Bankruptcy Courts: Parent PLUS Loans Stay, Bar-Exam Loans Go

Bankruptcy, Chapter 7 Bankruptcy, Debt / By Matt Leichter

Two bankruptcy cases made the news in March that will be of interest to New York bankruptcy debtors. One of them was even a Brooklyn bankruptcy. The first case appeared in the Boston Globe. Echoing my post on the economic risk calculator, a debtor earned $165,000 annually as president of a manufacturing company and borrowed …

Bankruptcy Courts: Parent PLUS Loans Stay, Bar-Exam Loans Go Read More »

Medical Debt Still a Problem for Americans

Bankruptcy, Debt / By Matt Leichter

If there were no doubts that the Affordable Care Act was sufficient to prevent medical bankruptcy, then a recent post in The New York Times‘ Upshot blog should correct that perception. True, the ACA reduced the number of uninsured Americans by 15 million since 2013, but the Times, along with the Kaiser Family Foundation, surveyed …

Medical Debt Still a Problem for Americans Read More »

What Is a Skeletal Bankruptcy?

Bankruptcy, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy / By Matt Leichter

A skeletal bankruptcy is also known as a bare-bones bankruptcy or less colorfully as an emergency bankruptcy. The idea is that the petitioner submits the minimal documentation necessary to initiate a bankruptcy case with the intent to complete the filing or amend the schedules and exhibits later. There are times when a skeletal bankruptcy is …

What Is a Skeletal Bankruptcy? Read More »

Estoppel and Bankruptcy: Lawsuits Are Assets

Bankruptcy, Creditors / By Matt Leichter

Consider the following scenario, which happens sometimes in New York bankruptcy: A debtor is injured by someone (it could be a serious auto accident, slip and fall, or other misconduct) but without asserting a claim in court against that party, the debtor files bankruptcy. The debtor names all of the creditors in his or her …

Estoppel and Bankruptcy: Lawsuits Are Assets Read More »

How to Keep Track of Your Bankruptcy

Bankruptcy / By Matt Leichter

New York bankruptcy requires significant attention to detail, ensuring all the paperwork is complete and filed on time, attending the 341 meeting, scheduling adversary proceedings, etc. Before the World Wide Web, debtors could keep track of their bankruptcies by staying in touch with their bankruptcy lawyers or contacting the clerks of the bankruptcy court. Nowadays, …

How to Keep Track of Your Bankruptcy Read More »

When Can a Creditor Initiate an Involuntary Bankruptcy?

Bankruptcy, Business Bankruptcy, Creditors, Debt, Preference Payments / By Matt Leichter

Most of the time debtors are the ones who file New York bankruptcy. However, the Bankruptcy Code allows creditors to force debtors into bankruptcy under certain circumstances. Importantly, the debtor in question must be either a for-profit corporation or a person, but not an unincorporated farmer or family farmer. Creditors can initiate involuntary proceedings in …

When Can a Creditor Initiate an Involuntary Bankruptcy? Read More »

Private School and Chapter 13

Bankruptcy, Chapter 13 Bankruptcy, Debt / By Matt Leichter

New York is home to a dizzying variety of private schools, so it’s common for debtors in New York bankruptcy whose children are enrolled in such institutions to ask whether they will be able to pay for their kids’ private school tuition. For those filing chapter 7, the answer ought to be fairly clear. Because …

Private School and Chapter 13 Read More »

Concurrent Bankruptcies Are a Disaster Waiting to Happen

Bankruptcy, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, Creditors, Debt / By Matt Leichter

There are myths of people engaging in serial bankruptcies and sometimes people file consecutive bankruptcies, but one thing debtors should not do is file concurrent bankruptcies. The overlapping cases can create needless headaches for everyone involved, especially debtors. The biggest reason not to do this is that it might end up creating a second bankruptcy …

Concurrent Bankruptcies Are a Disaster Waiting to Happen Read More »

Will That Clunker Last Through a Chapter 13 Plan?

Bankruptcy, Chapter 13 Bankruptcy, Debt / By Matt Leichter

One of the draws of Chapter 13 New York bankruptcy is the additional option for keeping an automobile: the cram-down. For cars older than 910 days, the debtor can ask the bankruptcy court to adjust the auto loan down to the car’s current market value. It’s too bad debtors can’t do this with their houses. …

Will That Clunker Last Through a Chapter 13 Plan? Read More »

Free Consultation

(718) 855-6840

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.