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How does a New York bankruptcy case end?

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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Can I rebuild my credit after bankruptcy in New York?

Yes, you can rebuild your credit within a few years if you’re careful about your finances and pay your bills on time after you’re done with your bankruptcy case. A lot of people worry about their credit history when they consider filing for bankruptcy in New York.  It’s a legitimate concern and a healthy impulse …

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When Can a Debtor Reopen a New York Bankruptcy Case?

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 …

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CFPB Studies Debtor Education That Isn’t a Waste of Debtors’ Time

Observing the tenth anniversary of the Bankruptcy Abuse Prevention and Consumer Protection Act, I discussed one of its less consequential impacts on New York bankruptcy: whether debtor-education requirements were a waste of time. The Government Accountability Office found that debtors thought the courses were somewhat helpful, but they would not have prevented their bankruptcies. In …

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Where Do Debtor Education Fees End Up? A Multi-Million-Dollar Industry

I wrote a few posts about the 2005 bankruptcy reform, the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA), but I left out one topic that doesn’t really address whether the law benefited debtors in New York bankruptcy. Specifically, what were some of the unintended consequences of the BAPCPA? One answer is the industry spawned …

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Do Debtors Think Mandatory Financial Education Works?

That’s the question a pair of researchers raised a few years ago, and the answer might provide insights to debtors in New York bankruptcy. Since the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act was passed, debtors have been required to complete a financial education course prior to discharge, which is not to be confused …

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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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How does a New York bankruptcy case end?

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 …

How does a New York bankruptcy case end? Read More »

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