A common question we are asked by people living in Manhattan, Brooklyn, Queens and surrounding counties is whether they can leave the state after filing for bankruptcy.. The answer is that there is no requirement that a debtor remain physically present in New York continuously after filing for bankruptcy until…
In prior posts we have covered how a wage earner repayment plan (chapter 13 bankruptcy) works. Many people are interested in filing chapter 13 bankruptcy in Manhattan, Brooklyn or Queens, but are concerned about what happens if they are unable to make all plan payments, or if they decide they…
A common question we get asked by our clients in Manhattan and other boroughs of New York is whether they will be able to get any credit after filing bankruptcy. 1. Alternatives to Credit. First of all, although credit can be convenient there are many alternatives to credit. Many of…
On April 30, 2009, Chrysler and its affiliates filed a chapter 11 case in the U.S. Bankruptcy Court for the Southern District of New York. On June 1, 2009, GM and its affiliates also filed a chapter 11 case in the U.S. Bankruptcy Court for the Southern District of New…
A question we often get from clients and prospective clients is what can they do if they are owed money by a company that has filed for bankruptcy protection in New York. The answer depends on why they are money, when the debt arose, and what type of bankruptcy the…
Many of our clients and prospective clients have a very limited knowledge concerning their rights when they owe a judgment. Collectors and collection agencies manipulate people’s fear — they use intimidation and the knowledge that most people in New York do not record their telephone calls to intimidate people with…
As a law firm involved in commercial debt collection and debtor-creditor matters in the New York metropolitan area (Manhattan, Brooklyn, Queens, etc.) and New Jersey, this is an issue that we face a lot. The answer, like many things involving the law, is that is depends on the facts involved.…
The purpose of a personal bankruptcy is to get a “fresh start” by obtaining a discharge (wiping out) of debt. To assist debtors in obtaining their fresh start the law allows them to keep a modest amount of property. The property that an individual is allowed to keep in bankruptcy…
This is a question that we get asked a lot by our clients and prospective clients. The answer is “that depends” – it depends on what chapter (type) of bankruptcy we are talking about. 1. Duration of a Chapter 7 Bankruptcy Case When someone asks how long will a bankruptcy…
Consignment arrangements are very common in certain industries that are active in New York City, such as for sale of jewelry, fine art and antiques. In a consignment transaction the consignor (owner) of the merchandise gives it on consignment to the consignee for resale. The consignee does not have to…