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New York Bankruptcy

Bankruptcy Bill’s Bankruptcy Song Contest

A song contest might not be the first thing that comes to mind when you think of bankruptcy.  But apparently, it is for the folks at the Bankruptcy Bill cartoon site. So if you have any thoughts or feelings about the topic of bankruptcy, whether from personal experience or otherwise, here’s a wonderful opportunity to …

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Wall Street Journal says “Beware of ‘Debt-Relief’ offers”

I always try to warn people to avoid the empty promises of debt relief and debt settlement companies that require up-front fees and imply that you’ll only need to pay pennies on the dollar. Now, the Wall Street Journal is warning people as well in a recent article (“Beware of ‘Debt-Relief’ Offers“).  The article notes …

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Debit cards, overdraft fees and involuntary loans

The Center For Responsible Lending, a nonprofit and non-partisan research and policy organization focused on fighting abusive lending practices, is warning people to beware of recent changes banks have made to their debit card policies. Previously, if you attempted a transaction with your debit card and you did not have enough money in your account …

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Preference Actions: What is the “New Value” defense?

In a previous post (“Defenses to Preference Actions – Part I“), I explained that there are three common defenses to preference actions (also often called “preference lawsuits”) that you can use if you’ve received a demand letter from a bankruptcy trustee, from counsel to a Debtor-In-Possession or counsel to a creditors committee. In subsequent posts …

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BAPCPA Man #13: Halloween and Bankruptcy

What does BAPCPA Man dress up for on Halloween?  Read below and find out. Note: This cartoon is posted on the NYBankruptcyNet site with the express permission of the creators of BAPCPA Man. Click here to see a larger version of BAPCPA Man #13:  Halloween & Bankruptcy. If the prospect of filing for bankruptcy in …

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Preference Actions: What is the “Ordinary Course of Business” Defense?

In a previous post (“Defenses to Preference Actions – Part I“), I explained that there are three common defenses to preference actions (also often called “preference lawsuits”) that you can use if you’ve received a demand letter from a bankruptcy trustee, from counsel to a Debtor-In-Possession or counsel to a creditors committee. The first one …

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Bankruptcy Bill takes on Fantasy Bankruptcy again

Bankruptcy Bill and his pal Struck Finn continue their fantasy-football-applied-to-bankruptcy conversation. Note: This cartoon is posted on the NYBankruptcyNet site with the express permission of the creators of BAPCPA Man. Click here to see a larger version of the image. If you’re facing bankruptcy issues, have questions about bankruptcy or are considering filing for bankruptcy …

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Defenses to Preference Actions – Part 1

In previous posts on this site (What is a Preference?  And why should you care? and Preference Actions:  How to Defend Against Them), I’ve addressed the topic of preference actions (also commonly referred to as preference lawsuits). If you read those two posts, then you know that, from a creditor’s perspective: Preference actions seem unfair …

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Foreclosure increase + jobless recovery = Trouble

You may have noticed a couple pieces of bad news circulating in the media the last few days. One is that foreclosures have continued to climb, according to the quarterly statistics put out by RealityTrac.  Why the increase?  Apparently banks have been delaying a lot of foreclosures as they’ve tried to implement the federal foreclosure …

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