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5 Answers | Asked in Bankruptcy for New York on
Q: Is there a minimum repayment plan amount when filing a ch13 in NY Southern District court ?

I have only unsecured debt. My disposable income is around $80, would my plan be accepted? I’m under the median income. Had a ch7 discharged less than 8 years ago. Being sued by creditors. I don’t have any non exempt assets.

Carl  Cottone
Carl Cottone
answered on Aug 28, 2023

The required time between a Ch 7 and a Ch 13 is four years, so you're OK there. And, since there is no requisite minimum payment and, as long as $80 is your disposable income, there shouldn't be a problem there. Also, most trustees require that any amount over a specified amount of tax... View More

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2 Answers | Asked in Bankruptcy for New York on
Q: Roomates income adding to mine for chapter 7 means test?

My brother lives with me in the house i own. He pays me $200 a week for rent but otherwise our finances are independent. Would I need to add his total income to mine for calculating income for the means test? Or would i just count what he pays me? Does he count for household size? I live in... View More

Carl  Cottone
Carl Cottone
answered on Mar 30, 2023

Your questions have nice Black and White answers. Yes, you count the amount he gives you for rent in Schedule I and, no, his income is NOT included in calculating the Means Test and, no, he does NOT count for household size.

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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... View More

Carl  Cottone
Carl Cottone
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... View More

Carl  Cottone
Carl Cottone
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... View More

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