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One of my friends wanted to know if 12 USC 411 makes it the government's responsibility to pay back debts and loans given the wording "The said notes shall be obligations of the United States". They believe that because of this if they take out a loan they have no obligation to pay... View More 
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answered on Aug 20, 2024
Your friend is misunderstanding the purpose of 12 USC 411. The phrase "The said notes shall be obligations of the United States" refers to the currency itself, meaning that Federal Reserve notes are backed by the U.S. government. This ensures that the currency is legal tender for debts... View More
Because I will not be in consolidation, I will have extra money and I don’t know what to do with it, if I can put it in a bank account.
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answered on Aug 2, 2024
Now that you’ve filed for bankruptcy, it’s important to handle your finances carefully. First, ensure you keep a detailed record of your income and expenses. This will help you manage your budget and provide necessary information to the bankruptcy trustee.
You can save your money, but... View More
I'm on disability. So I get a check for $1,558 at the first of any month. My rent takes up most of that it's $788 a month. Do you think bankruptcy is right for me? Thank you
answered on Jun 10, 2024
My NY colleague's answer is correct, as far as it goes.
To declare bankruptcy over just $16K is at the low end of debt issues, and may well be solved by lesser means. Most credit card issuers are pretty savvy, and will offer some altered payout/discount for you.
You can only... View More
My aunt was finally approved for SSDI at the end of 2023 and started receiving monthly payments in January 2024. She hasn't worked in 10 years and SSD is her only source of income (there's no pension, no IRA, no anything else). Her savings are long gone and she's been living on... View More
answered on Jun 5, 2024
Most disability payments are exempted from inclusion in the bankruptcy estate and thus protected under the Social Security Act. Additionally, on the state level (thus potentially obviating the need to file bankruptcy), the New York Exempt Income Protection Act exempts disability payments from... View More
Filed chapter 7 bankruptcy in 2013. 2024 have a personal injury lawsuit small award, can the bankruptcy court take it? It was Discharged in 2013.
answered on May 28, 2024
My colleague, Mr. Siegel, is right as far as he goes, but,
a bankruptcy discharge works holders of claims that existed prior to the bankruptcy filing, not those that happened afterward. And, the bankruptcy discharge works on claimants named by you as the debtor in the bankruptcy. If, for... View More
My mother is a senior with credit card debt and is essentially judgment proof because she only receives pension and social security, no other income or assets. Do social security benefits get reported in Chapter 7 filing papers in NY?
answered on Apr 16, 2024
You do report Social security on schedule I and the means test but it does not count toward the means test result. Pension income gets reported on both and does count. Speak to an attorney to decide whether filing is beneficial.
I have a loan out thru my retirement. My employer didn't make the appropriate payroll deduction to pay my loan payment and the loan went into default. I can no longer borrow against this loan which has forced me to do a bankruptcy. This has caused me extreme emotional distress.. I have been to... View More
answered on Apr 16, 2024
I'm sorry for your ordeal. It's difficult to say with certainty whether the consequences you suffered from the payroll deduction would present the basis for a strong case. Although it's clear that you suffered here, and such damages are always part of the recovery inventory in a... View More
I have received no correspondence and do not recall the initial lawsuit notification. Is the statue of limitations up? I saw that NY went from 6 years to 3 years. What are my options?
answered on Apr 15, 2024
The statute of limitations runs from when a cause of action accrues to when a complaint upon that cause of action may be commenced. If they have a judgment, your right to raise that as a defense now is likely waived.
You may want to speak to an attorney about the implications of the... View More
A process server only made one attempt to personally serve me and gave a complaint and summons meant for me to an individual at my old address and this person threw the paperwork in the trash. I was never served and wasn't aware of a case against me until after a judgement had already been... View More
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answered on Mar 16, 2024
In situations like yours, finding a legal professional with experience in Traverse Hearings is crucial, particularly in Dutchess County, New York. These hearings are specifically designed to examine the process and validity of service in legal proceedings, which seems to be the crux of your issue.... View More
I filed Chapter 7 in May last year. I am also getting divorced. I have a chapter 7 deposition coming up. Now creditor is asking for all the divorce documents including my children's social security numbers. Do I have to provide my children's social security number or is there a law... View More
I am a creditor in a class action law suit. When I check the website there is a long page that has 5 different sections that says claim nature. The first is General Unsecured. The second says Priority. The third one says Secured. The fourth says 503(b)(9) Admin Priority. The fifth says Admin... View More
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answered on Jan 25, 2024
A secured claim is one in which the creditor has a lien on as asset of the debtor, such as a mortgage or a car loan. A priority unsecured claim is generally for taxes or other administrative expenses. Most claims are general unsecured claims. While there are certain claims actions claims that might... View More
When my case was filed neither I nor my attorney were aware of the Haven Act. I would like to know if this can be corrected.
answered on Jan 23, 2024
Bankruptcy schedules and forms can typically be amended, but there are a number of factors such as where the case is procedural that would be relevant to an informed decision on how to proceed. This forum is not an ideal place to provide you with adequate legal advice as to your pending case; I... View More
I have a judgment against me for approx $8,000 in FL (from 12 years ago) and am currently residing in White Plains, NY. I cannot pay this debt right now in any way, not even a minimum payment. Can the debtor come after my vehicle (worth approximately 5k) if it's registered under BOTH my name... View More
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answered on Nov 20, 2023
In New York, a creditor with a judgment against you can potentially seek to enforce that judgment by going after your assets, including a vehicle. However, the fact that the vehicle is registered under both your and your wife's names complicates the matter. Generally, if the asset is owned... View More
I have a judgment against me for approx $7,000 total (from 12 years ago) in a different state (NJ and Florida) and am currently residing in NY. I cannot pay this debt right now in any way, not even a minimum payment. Can the debtor come after my vehicle (worth approximately 4k) if it's... View More
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answered on Nov 20, 2023
A judgment against you can be enforced against your interest in any asset, whether it is jointly owned with another or not. HOWEVER, the more important question is whether (a) the judgment is still valid, which is a question of New York law; (b) whether you have any equity in the car (difference... View More
I have a default judgment from a PA Commonwealth Court for $270,000 against a debtor that lives in South Carolina. I believe he has a brokerage account with Merrell Lynch in New York. I don't know the account number but I think I know the NY broker's name. Four years ago, the debtor... View More
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answered on Nov 4, 2023
To levy a debtor's account held in New York, you would typically need to domesticate your Pennsylvania judgment in New York. This is done by filing a copy of the foreign judgment with a New York court and thereby converting it into a New York judgment, which can be enforced as if it were... View More
answered on Oct 25, 2023
This is a Q&A forum, but you can also use the "find a lawyer" tab at the top to find a lawyer to represent you in a bankruptcy. That is the best way to assess your financial situation and determine whether a bankruptcy is the right option for you.
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.
answered on Aug 28, 2023
An $80 per month Plan can be confirmed. The Ch. 13 Trustee in the Poughkeepsie Court objects to Plans featuring payments of less that $50 per month, and frequently will try to get a low paying Plan increased to $75 per month, but $80 per month will clearly work. Tax refunds received during the... View More
While under COVID-19-Related Hardship Foreclosure Protection (from 3/25/2021-9/20/2021) which my mortgage company extended to me upon my written request after filing the COVID-19 Hardship Form, their attorneys filed Notice of Motion and Motion for Termination of the Automatic Stay. I was not fully... View More
answered on Aug 25, 2023
Based upon the facts you've presented, it doesn't sound as if any fraud was committed - though I do sympathize with your frustration.
In just about any case, non-payment of your mortgage is grounds for termination of the Automatic Stay in a Bankruptcy Case. The COVID-19 Hardship... View More
My chapter 7 filed and discharged 5 years ago. My income is under the median income for my state. I have no non exempt assets and only have unsecured non priority debt. I have very little disposable income. Is chapter 13 an option? Would I be able to propose to pay 0.00 to unsecured claims?
answered on Aug 16, 2023
To be confirmed, a Ch. 13 Plan must be both feasible, and must provide to unsecured creditors the "indubitable equivalent" of what they would receive in a Ch. 7.
You do not provide any financial circumstances/facts. Consult with an experienced lawyer in NY who can review your... View More
Initially, my 13 coworkers and I signed a contract which specified that we were interns for this startup. We signed 1099 forms. Later, before the start of the internship, we signed an amendment that said we would receive 100% of our salary at the end of the internship.
Throughout our... View More
answered on Aug 15, 2023
They could be. Yes. You need to file a proof of claim for the wages in the bankruptcy. You should also consult a bankruptcy lawyer regarding a possible adversarial proceeding based on fraud that you might file against the company within the bankruptcy.
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