Chapter 13 Cram Downs: Pay What the Asset Is Actually Worth
Discover how cram downs in Chapter 13 bankruptcy can reduce your debts and secure a fresh financial start.
Protecting Your IRA in Bankruptcy: A Comprehensive Guide
Navigate the complex world of IRA in bankruptcy. Uncover federal and state laws, safeguard your retirement funds, and secure a financially stable future.
Pros and Cons of Filing Bankruptcy in New York
By William Waldner, Esq. If you are carrying debt you see no realistic way to repay, bankruptcy is one of the tools the law gives you to reset and move forward. It is not the right answer for everyone, and it is not the catastrophe many people fear either. The honest way to decide is […]
Will a Trustee Look at My Bank Accounts if I File Bankruptcy in New York City?
By William Waldner, Esq. Short answer: yes. If you file bankruptcy in New York City, part of the bankruptcy trustee’s job is to review the information in your petition, and your bank accounts are squarely part of that picture. Here is what the trustee is actually looking for, how far back they can reach, and […]
Can I get out of credit card debt in a New York bankruptcy?
Can I get out of credit card debt in a New York bankruptcy? Bad credit card debt is the most common problem facing most consumers considering bankruptcy today. The good news is that in almost all cases your unmanageable credit card debt can be eliminated or extremely reduced in both Chapter 7 and Chapter 13 […]
Think Twice Before Using a Bankruptcy Petition Preparer
If Your Debts Are No Longer Manageable, Hire a Bankruptcy Lawyer, Not a Petition Preparer If you live in New York City and you are considering using a Paralegal or Bankruptcy Petition Preparer use caution. First of all, do not give any such preparer a consulting fee. Often these paralegals will take the fee and […]
Who May reopen a chapter 7 Bankruptcy case in Manhattan?
In New York City once a Bankruptcy case has been discharged a debtor or any party in interest may reopen the case. For instance, if Dell computers never received actual notice of a Chapter 7 filing and there were assets distributed he can have the case reopened to contest the discharge or seek monetary damages. […]
Will I have to go to court in a Chapter 7 Bankruptcy Case in New York?
In New York City when a chapter 7 case is filed a Trustee and a judge is assigned to the case. The Trustee’s duty is to administrate the case so that there is less of a burden placed on the court system. The judicial system is only used in Consumer Bankruptcy cases to resolve disputes […]
Can I keep my car in a New York Bankruptcy case?
In New York debtors are allowed to keep 1 car in a chapter 7 Bankruptcy and an unlimited number of cars in a chapter 13 Bankruptcy. Here is how it works. You are allowed to keep up to $4,000 in equity in a vehicle ($10,000 if it is a handicapped vehicle). So if your car […]
What questions will the Bankruptcy Trustee ask at my 341 meeting of creditors in New York
Here is an outline of what to expect in Manhattan (Southern District of New York) and Brooklyn (Eastern District of New York) Bankruptcy meeting of creditors. Currently, do to the COVID virus the meetings are being done over the phone or via zoom. You will still need your license and social security card with you. […]