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New York Bankruptcy Questions & Answers
2 Answers | Asked in Bankruptcy for New York on
Q: in bankruptcy, I am heir to a condo that has arrears in hoa fees and they put a lien on the property. is that my debt?

how do I list this property on my schedules

Michael David Siegel
Michael David Siegel answered on May 12, 2021

If it is in your name already, you need to pay the liens to keep the condo. You list them as secured debt. If it is not in your name, but will be some day, you list it on the statement of financial affairs.

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2 Answers | Asked in Bankruptcy, Contracts and Collections for New York on
Q: I have an account in collections that the collections company says is past the Statue of Limitations. I'm not sure why?

I recently noticed a collection account from PRA on my credit report. I've never heard of them, but the amount owed was similar to the amount I owe a bank. I never received anything from PRA though, so I opened all my recent mail that I thought was junk.

Lo and behold, one of them was... Read more »

Howard E. Knispel
Howard E. Knispel answered on Mar 15, 2021

The Statute of Limitations in NY for a debt is 6 years from the last use of that credit or last payment. The SOL is an affirmative defense meaning you would have to plead it to use it in a suit. If the creditor sues you then you would have to answer it with the Aff. Defense of SOL. As for the... Read more »

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3 Answers | Asked in Bankruptcy for New York on
Q: Do I need to file bankrupsy chapter 7 . Single dont own anything unfortunately. On ssd. Have a personal loan

A few cards.

Cristina M. Lipan
Cristina M. Lipan answered on Feb 23, 2021

Although you have no assets for creditors to take, you might decide you don't want the hassle of collection calls, or just in case you receive non-exempt assets or income in the future, that these are not taken from you by a potential judgment. However, you may decide it is too expensive to... Read more »

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3 Answers | Asked in Bankruptcy for New York on
Q: once a motion for bankruptcy is approved and finalized by a bankruptcy court, can a creditor still come after assets?
Derek John Soltis
Derek John Soltis answered on Feb 23, 2021

It depends. For instance, if you have a chapter 13 and you do not make your mortgage payments the bank can ask to lift the automatic stay. And if the stay is lifted they can go after the house.

If you file a chapter 7 and own a car, and stop making payments the creditor can ask for the...
Read more »

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5 Answers | Asked in Bankruptcy for New York on
Q: Am I entitled to any of the remaining balance of my house after it sold after my bankruptcy?

I claimed bankruptcy many years ago. I keep getting a notification of an outstanding balance with Caliber Home Loans. The house sold in 2017 for over $40,000 more than what I owed on the house. I am wondering if I am entitled to any of this at all.

Michael David Siegel
Michael David Siegel answered on Feb 15, 2021

You would be unless you had other creditors. The trustee would have paid all the creditors and then if anything was left, paid you. There should have been a final report in the case.

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1 Answer | Asked in Bankruptcy for New York on
Q: chapter 11 Bankruptcy, small business with a single creditor,

I will have no consenting class, Will it be impossible to get a cram down? his nonsecured class will get nothing, his secured class will get chapter 7 value, the secured collateral is not worth as much as the debt, so the creditor will object on the both secure and the non secured class.

W. J. Winterstein Jr.
W. J. Winterstein Jr. answered on Dec 22, 2020

I'm in SE Pennsylvania, and my district, your case would be kicked out of bankruptcy court inasmuch as its a dispute between only two parties, your business and the one creditor.

And even if you could somehow get over that hump, you'd still need at least one class of impaired...
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2 Answers | Asked in Bankruptcy for New York on
Q: Hello I am in need to file for bankruptcy. I am homeless and I am from out of state.

All of my debt occurred in a different state and is some years old I and homeless no income at moment. I will soon be filing taxes for the last years as I know it's required. Can you provide free legal aid for my situation?

Stuart Nachbar
Stuart Nachbar answered on Dec 4, 2020

We cant provide over this forum, but look up Pro Bono Services in whatever county your are in. Under Bankruptcy laws, you can file where you are , as long as you have been there for 6 months

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4 Answers | Asked in Bankruptcy for New York on
Q: I filed bankruptcy in July2020 it was discharged in Nov. 2020. Now lawyer wants more money to handle a lien on my home.

I retained a lawyer in July2019. Gave them all documentation plus a summons that I was being sued by a creditor. We filed the bankruptcy july 2020 and it has been discharged 2 weeks ago. I get a call from the attorneys office stating that they received a judgement in the mail that went to one of... Read more »

Leonard R. Boyer
Leonard R. Boyer answered on Nov 17, 2020

The removal of a lien is a separate state court proceeding and is beyond the scope of representation in a Bankruptcy proceeding. $1000 for this in NY, is an incredible bargain! In NJ, I charge $1,750 each.

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7 Answers | Asked in Bankruptcy for New York on
Q: What i need to apply for BankruptcyI am retired with 865 a month, less rent 309 and home phone 71 I count with 485

my credit debt is $39,116.06

no house owner and need to keep my 2004 jeep (about 3500 by kellys blue book)

where i could fin a lawyer for this???

Thank for your time

Karra Kingston
Karra Kingston answered on Sep 2, 2020

I think you should speak with a bankruptcy lawyer in New York. I am a lawyer in New York there’s more questions to ask most lawyers in New York provide free consultations!

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3 Answers | Asked in Bankruptcy, Consumer Law and Identity Theft for New York on
Q: Master Promissory Note on file with FSA for Student Loans never signed and is completely blan: Can i discharge the debt?

The Master Promissory note on file with Federal Student Aid is completely blank. There's no information about me in any regard, not even my name. Am I legally responsible for this debt or can It be discharged/forgiven?

The Federal Student Aid website has all the federal loan... Read more »

Michael David Siegel
Michael David Siegel answered on Aug 21, 2020

Did you get a loan? Have you paid this loan? How are you liable if your name is not in the database?

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5 Answers | Asked in Bankruptcy and Divorce for New York on
Q: If husband files for bankruptcy prior to divorce will that affect how much I end up with?
Lawrence Allen Weinreich
Lawrence Allen Weinreich answered on Aug 18, 2020

It may depending on what property is included in the bankruptcy, however, this may be offset if the reason for the bankruptcy is your husbands dissipation of assets such as gambling.

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7 Answers | Asked in Bankruptcy and Divorce for New York on
Q: I’m a teacher and husband owns a business he’s threatening to file bankruptcy to not have to give me anything in divorce

Husband seems to do pretty well we live in a nice house multiple high end cars claims to have substantial debt including a million dollar loan he says that is backed by the house. Offered me a deal to buy him out of the house he wants the down payment he put down back plus about 100k of the equity... Read more »

Nina Mironenko
Nina Mironenko answered on Aug 18, 2020

Find a good attorney who practices in Brooklyn.

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2 Answers | Asked in Bankruptcy, Immigration Law, Real Estate Law and Workers' Compensation for New York on
Q: What made you become a lawyer? What do you wish you knew at my age (15)? How do I become a lawyer? Any pros and Cons?

I am doing an interview for a summer program and would like true answers if possible.

Tim Akpinar
Tim Akpinar answered on Aug 13, 2020

You are very young now, but it is good that you set your goals so early. When you get to college, concentrate on keeping good grades and when you get to that point, you could look into an exam called the LSAT. For now, you can read about the profession and try to learn as much as you can. Learn... Read more »

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3 Answers | Asked in Bankruptcy for New York on
Q: ID like to locate chapter 11 bankruptcy cases in the ED or SD of NY, how do i do that?

specifically subchapter v in the prior year, is there a way of doing that?

Leonard R. Boyer
Leonard R. Boyer answered on Aug 9, 2020

Subchapter 5 just started this year. What exactly is it that you are trying to do?

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3 Answers | Asked in Criminal Law, Bankruptcy and Contracts for New York on
Q: Wedding Studio under new management and are neglecting the clients

I have tried calling them and they would decline my call and respond with I'm sorry I cant talk right now. Me and my husband have already made the full payment and we would like to know what are some precautions we need to take from here because it seems that the Wedding Studio is also... Read more »

David Luther Woodward
David Luther Woodward answered on Jul 27, 2020

I am confused.

If you are already married why do you need a wedding studio? If you aren't married yet, then perhaps you do.

You might consult a lawyer in your community. If they have engaged in fraud it may be a crime, but you can't prosecute it. You may wish to sue...
Read more »

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2 Answers | Asked in Bankruptcy for New York on
Q: Do I need to fill out a Modified Form 410 Proof of Claim form?

I have a pension with JC Penney Corporation. The company has filed for bankruptcy protection. My pension is insured with the PBGC. I just received a Modified Form 410 Proof of Claim form from the bankruptcy court. Does this form have anything to do with my pension? haight78@hotmail.com

Timothy Denison
Timothy Denison answered on Jul 10, 2020

Yes. Fill it out and file it immediately. You may want to emits a lawyer to help you.

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3 Answers | Asked in Bankruptcy for New York on
Q: I own a time share. Paid in full. I have received a note from the acting lawyer of a bankruptcy hearing(telephonic) .

To auction to the highest bidder. Does this mean I do not own or are responsible for this time share?

Michael David Siegel
Michael David Siegel answered on Jun 30, 2020

Is the timeshare company bankrupt? Without seeing the notice I cannot opine on it, but maybe there is a sale of the property subject to all timeshare interests.

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4 Answers | Asked in Bankruptcy for New York on
Q: Is a judgment from a secured 2nd mortgage still considered secured credit, or will it be paid if I receive inheritance

Chapter 7 inheritance

Timothy Denison
Timothy Denison answered on May 26, 2020

Yes. It is still a secured creditor.

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4 Answers | Asked in Civil Litigation and Bankruptcy for New York on
Q: I want to know the negative financial consequences of deliberately allowing a lienholder to repossess my vehicle to me

A Ch. 13 conversion into a Ch. 7--Bank wants back $2800, and really gouged me on monthly payments, increasing from the prior agreed on rate of only $115 a month payments (the Ch. 13 Trustee won that). No more need for this 11 year old vehicle which is now worth market value of only $1700 at most.... Read more »

Karra Kingston
Karra Kingston answered on May 26, 2020

I’m not sure if your in bankruptcy now or not?

If you are not in bankruptcy and they repossess your car they can sue you or garnish you. You can give up the car in a chapter 7 bankruptcy and not be liable for it? If you are no longer in bankruptcy and you give up the car they can not...
Read more »

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