NY Court of Appeals Rules that Rent-Stabilized Leases are Now Officially Exempt in Bankruptcy
NY Court of Appeals Rules that Rent-Stabilized Leases are Now Officially Exempt in Bankruptcy Update 9/11/15: Since the Santiago-Montverde ruling some chapter 7 trustees are looking for a case to test the ruling. The NY Court of Appeals ruling explains that the rent stabilized leases can be exempted as a public benefit under NY law. […]
Can I File Bankruptcy in New York if I live in Another Country?
Can I File Bankruptcy in New York if I live in Another Country? Yes, US bankruptcy protection is available to any person with assets in the United States. In almost all cases as long as a debtor owns property or even has a bank account with $.01 in New York City they may file for […]
How much Should I Pay for Mortgage Modification in New York City?
How much Should I Pay for Mortgage Modification in New York City? There are a lot of companies in New York City promising mortgage modifications and boasting of success rates of 99% and higher. Despite the claims many of these programs are simply bogus, and anyone looking into modifying a mortgage in New York City […]
Top 5 Signs You are Heading towards Bankruptcy in New York
Top 5 Signs You are Heading towards Bankruptcy in New York Many New Yorkers struggling with their bills wait too long to speak to a bankruptcy attorney. Not every person with debt should file bankruptcy, but a bankruptcy consultation in New York is typically free of charge and delaying a needed bankruptcy can be devastating. […]
Is Filing Bankruptcy in New York City only for Bums?
Is Filing Bankruptcy in New York City only for Bums? New York City can be a tough place to make it, and people from all walks of life have money problems here. Just because you need bankruptcy protection doesn’t make you a bum. Bad things happen to good people, so there is nothing sadder than […]
Amidst NY State Court of Appeals ruling NY State lawmakers push to protect Rent Stabilized Leases in Bankruptcy
Amidst NY State Court of Appeals ruling NY State lawmakers push to protect Rent Stabilized Leases in Bankruptcy Update: Since writing this article the NY Court of Appeals has ruled on this case. Refer to ==>Rent Stabilized Lease Update We have written in the past about the possibility of losing a rent stabilized apartment lease […]
The Chapter 13 Bankruptcy Process in New York City
Unlike Chapter 7, when you file a Chapter 13 in New York City you will get to keep your property but will have to repay a portion of your debts over time through a court monitored repayment plan. Your debts will be re-organized into one monthly payment to a bankruptcy trustee who will then distribute […]
How Long Does Chapter 13 take in New York City?
How Long Does Chapter 13 take in New York City? When you file a Chapter 13 bankruptcy petition in New York City you will propose a repayment plan that fully repays your secured creditors but gives your unsecured creditors only pennies on the dollar. Exactly how long your Chapter 13 repayment plan will last depends […]
Will I Lose My Property if I file Chapter 13 Bankruptcy in New York City?
No. In a nutshell Chapter 13 allows you to keep your property in exchange for repayment of at least some of your debts. Also known as a “Wage Earner’s Bankruptcy” Chapter 13 is designed for individuals or married couples who are earning at least some income between them and are able to repay a portion […]
Don’t be Afraid of Chapter 13 Bankruptcy Court in New York City
Don’t be Afraid of Chapter 13 Bankruptcy Court in New York City People facing serious financial hardship in New York City can often be saved through Chapter 13 bankruptcy, but many that would easily qualify will delay filing because they are afraid of going to court. While there is a of mandatory appearance for any […]