What does abandonment mean in Bankruptcy?
In a New York City Chapter 7 Bankruptcy Case there are several events which take place before a debtor receives a discharge. First a petition is filed and a 341 meeting of creditors is held. At this meeting the Trustee will review all of the assets and liabilities of the estate and decide whether there […]
Who does not need to complete the means test for Bankruptcy in NYC?
In New York City and the entire United States for that matter all debtors are required to complete the “Statement of Current monthly income and means-test calculation” form. However, disabled veterans and non-consumer debtors are not required to complete the entire means test form. Instead they check a box in part 1 of the statement […]
Objecting to a Bankruptcy Discharge
There are several different grounds to object to a bankruptcy discharge such as, Destruction, Transfer or concealment of property, the debtor is not an individual (corporations cannot get a discharge), any unjustified failure to keep financial books or records, Dishonesty in connection with the case, Refusal to obey a court order and a prior discharge […]
What is the Discharge hearing for bankruptcy in Manhattan?
The last step in a chapter 7 or 13 bankruptcy case is a discharge hearing. This is where a judge finalizes the estate as settled and releases the debtor of his/her dischargeable debts. Certain debts like, certain taxes, domestic support debt, fines and penalties owed to the government, student loans and various other debts will […]
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. […]
What are the Requirements to file for Bankruptcy?
Anyone, whether or not a US citizen may file for bankruptcy as long as he/she has property, resides in the US or has a business in the US. The individual does not even need to live in the US as long as they have assets in the US. Children can file either through a court-appointed […]
Who is the US Trustee?
Every jurisdiction aside from Alabama and North Carolina have a United States Trustee. Since 1986 the United States Trustee program was created to perform many of the administrative duties of the court. This allows the Bankruptcy Court to focus on the legal disputes that may arise. The US Trustee also performs random audits on debtors […]
Who is the Bankruptcy Trustee?
When a debtor files for bankruptcy under chapter 7 or 13 of the U.S. Bankruptcy code a “bankruptcy trustee” is appointed by the US trustee. In certain Jurisdictions there are different titles given to the “bankruptcy trustee” but the purpose is the same. Since the US Trustee is unable to personally handle each and every […]
Chapter 13 Bankruptcy in NYC
About Filing Chapter 13 Bankruptcy in New York City Many people throughout New York City struggle to pay their bills each month, and often find themselves falling farther and farther behind. Failing to take care of these problems can lead to losing your home, car, and personal property. At The Law Office of William Waldner, […]