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Questions Answered by Carl Cottone Esq
3 Answers | Asked in Bankruptcy for New York on
Q: Chapter 7 Bankruptcy. Is it legal to contact other named creditors in advance of the meeting of creditors?

I'm a named unsecured creditor for a debtor (a general contractor / builder) and I suspect that there may be a pattern of fraud on the part of the debtor.

I'd like to contact other creditors to see if there is a pattern of fraud. I understand that there if there is, that would... Read more »

Carl Cottone Esq
Carl Cottone Esq
answered on Mar 21, 2022

I am not aware of any bankruptcy rule or statutory provision that precludes creditors contacting or speaking with each other.

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1 Answer | Asked in Bankruptcy for New York on
Q: My Ch. 13 Bankruptcy calls for me to turn over my Tax Refund check to the trustee.

What happens if I receive a refund from the IRS but owe taxes on my state tax return (NYS)?

Will the trustee allow me to offset the two or will I have to turn over the Federal Refund and pay the NYS Taxes?

Will the trustee allow me to keep my Recovery Rebate Credit from my Economic... Read more »

Carl Cottone Esq
Carl Cottone Esq
answered on Feb 28, 2022

Whether or not you keep the federal refund depends upon three factors 1) the basis of the refund, 2) the amount of the refund and 3) how hungry your Trustee is. If the basis of the refund is child/earned income, then the exemption covers it all. There is also a Wildcard exemption of $1,350 that can... Read more »

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