Sometimes New York bankruptcy debtors don’t file with their spouses, but when they do they (or their spouses) wonder how the bankruptcy will affect their non-filing partner’s access to credit or FICO scores. It’s an understandable sentiment because credit scores are both important and not important: It’s good to have high ones, but one’s life …
Does Bankruptcy Affect a Non-Filing Spouse’s Credit? Read More »
I’ll use this post to answer two questions New York bankruptcy debtors might have that relate to each other: What is the case number in bankruptcy and what is the docket? I’ll also discuss why these items are important. The case number, as its name implies, is the specific code that identifies a debtor’s case. …
What Is a Bankruptcy Case Number and the Bankruptcy Docket? Read More »
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 »
For New York bankruptcy debtors, owning a car magnifies the importance of the decision to file in chapter 7 versus chapter 13. In chapter 7, debtors must choose if they will surrender or redeem their vehicles, or if they will reaffirm or simply keep paying their auto loans. Chapter 13 debtors can expect their auto …
When a Cram-Down Is Not an Option: Giving Up a Car in Chapter 13 Read More »
A few months ago I wrote a post explaining why New York bankruptcy debtors should consider the role that future deteriorating financial conditions can play in their decisions to file in chapter 13. The focus of that post was post-petition debt. Today I’m going to discuss the opposite situation: why future improving financial conditions are …
Reason Not to File Chapter 13: Future Improving Financial Conditions Read More »
New York bankruptcy debtors create, receive, or mentally process dozens of different types of documents, and when their cases are complex or involve adversary proceedings, then the amount of paperwork rises even higher. Debtors might be curious about one of the more common documents that appear early in their cases: the “notice of appearance.” What …
What Is a ‘Notice of Appearance,’ and Why Am Receiving It? 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 »
Technology is now making it harder for debtors to keep their hands on their vehicles, according to recent a Washington Post article on auto repossessions. The topic is similar to a post I wrote last year about lenders tracking and disabling vehicles, even though their owners hadn’t defaulted on their loans. In that article, the …
Repossession Companies Now Tracking Cars Everywhere Read More »
This generation of elderly Americans is the wealthiest ever, and that means criminals look at them as easy marks for financial scams. Losing all of one’s (or one’s parent’s) wealth to a scammer is heartbreaking and often difficult to reverse. It’s possible to lose substantial assets to a financial scheme, so protecting oneself by knowing …
Avoid Scams Targeting the Elderly, Avoid Unnecessary Bankruptcy Read More »
Bankruptcy is a powerful option for improving one’s finances, but there are alternatives to struggling debtors. Some cater to homeowners, like short-selling, refinancing, or offering the deed in lieu of foreclosure. Others are oriented to debtors generally, like advice for tightening up one’s finances. However, these don’t quite answer the question of when doing nothing …
When Is Doing Nothing About a Debt the Best Option? Read More »
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