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New York Bankruptcy Questions & Answers
4 Answers | Asked in Bankruptcy for New York on
Q: I'm trying to find out how to get legal advice on bankruptcy or filing chapter 11 or the best rid of credit card debt

I'm disable with the pandemic that's going on can't afford to pay

Daniel Michael Luisi
Daniel Michael Luisi
answered on Nov 8, 2022

If you have no assets or taxable income (for example you are on SSI), or very low income, Chapter 7 may be a good option. Alternatively settling the credit card debts individually may be a good option especially by doing so you may be able to damage your credit less, as a bankruptcy will remain on... Read more »

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1 Answer | Asked in Bankruptcy and Real Estate Law for New York on
Q: NY Chap 7 dischrg in 2019 still residing in home in foreclosure awaiting auction. still have the right to file chap 13??
Todd Alan Morth
Todd Alan Morth
answered on Nov 5, 2022

You are able to file a Chapter 13 in this situation. However, you may not receive a Discharge in this new Chapter 13 case because you may have received a Discharge in a Chapter 7 bankruptcy filed within the prior 4 years. Even if you cannot receive a Discharge, you can still file a Chapter 13... Read more »

1 Answer | Asked in Bankruptcy for New York on
Q: I filed chapter 7bankruptcy in 2010 . I was involved in an injury lawsuit that was not resolved until 2017 which the

Court appointed trustee was awarded 350k for my injury. Another 100k of assets were taken from me to pay my creditors who all received 98.6% of what I owed them. One of the creditors was a parent loan I took out for my son’s college. They received 59k of the proceeds in 2017. Now they are... Read more »

Cristina M. Lipan
Cristina M. Lipan
answered on Oct 4, 2022

Bankruptcy Code section 523 lists debts that are not discharged in the bankruptcy - meaning you would still owe the debts. 523(8) speaks to educational loans. The student loan debt might not have been discharged. However, it would only be for the balance after accounting for the payment made in the... Read more »

1 Answer | Asked in Bankruptcy, Business Law and Civil Litigation for New York on
Q: Could cryptocurrency sent to an insolvent company be recoverable under 546(c) of the bankruptcy code?

I sent cryptocurrency to Celsius within the prior 45 days before they filed bankruptcy. Could I possibly have reclamation rights under 546(c) of the bankruptcy code?

Uncertainties: is the cryptocurrency considered a good covered by this? Cryptocurrency sent to Celsius is essentially lent to... Read more »

Leonard R. Boyer
Leonard R. Boyer
answered on Jul 27, 2022

This would be a low priority claim and without significantly more information, there is no way to know. You need to retain an experienced bankruptcy attorney and provide a great deal of information. Good luck.

3 Answers | Asked in Bankruptcy for New York on
Q: I was granted an amendment to my bankruptcy. How long do I have to refile the bankruptcy? Is there any time restraints?

My bankruptcy is allowed to be reopened to allow me to add my ex husband as a debtor so I can claim against the sale of our previous marital home which he has sold. Do I need to file this paperwork in a specific time frame? I ask because I am out of money to continue to pay a lawyer to do this.

Karra Kingston
Karra Kingston
answered on May 13, 2022

I’m not sure what you mean you were granted an amendment. If they allowed you to amend your petition, then generally it should be done as soon as you can.

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5 Answers | Asked in Bankruptcy and Foreclosure for New York on
Q: Does a 1 year stay in 7 bankruptcy, extend to foreclosure? Can a bank initiate foreclosure within 1 year of bankruptcy?

The bankruptcy is still in adversary proceeding at this time. It will probably be there for some time longer.. Does this mean the bankruptcy is still considered open? Is the stay in place until the adversary proceeding is complete?

Jonathan David Warner
Jonathan David Warner
answered on Apr 1, 2022

There is nothing stopping a lender from foreclosing after a bankruptcy is Discharged or Relief from Stay is awarded beforehand. The lender cannot begin foreclosure during a Bankruptcy case before the occurrence of either hypothetical.

Otherwise, no. There is no law the avails a grace period...
Read more »

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3 Answers | Asked in Bankruptcy, Collections and Landlord - Tenant for New York on
Q: I filed for bankruptcy in December of 2021. Could the servicer foreclose on me in 2022?

I filed for chapter 7 bankruptcy in 2021. The courts discharged my mortgage on my home. The servicer transferred the mortgage to a new servicer. The servicer has indicated that they have accrued nearly $5,000 in legal fees. Is the servicer legally able to foreclose on me within one year of my... Read more »

Howard E. Knispel
PREMIUM
Howard E. Knispel
answered on Apr 1, 2022

There is no law that allows a person to live in their home if they are not paying the mortgage. If you filed Chapter 7 then you either intended to surrender the home or redeem (pay off the entire mortgage).

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2 Answers | Asked in Consumer Law, Bankruptcy and Collections for New York on
Q: I cosigned for someone 2 years ago and now I have a repossession activity on my credit. I cant contact the person.

So I cosigned for someone 2 years ago and the person recently stopped making payments and now it has gone to repossession. The person blocked me from contacting her. My credit score dropped significantly and I am not sure what I can do. I'm not sure if I can sue her or get out of this cosign... Read more »

Jonathan David Warner
Jonathan David Warner
answered on Apr 1, 2022

Filing a bankruptcy will remove the negative remarks from your credit and permit you to start fresh. If you don't intend to file for bankruptcy, you'd have to sue your cosigner - which would be much more expensive and difficult than filing bankruptcy!

If you're interested in...
Read more »

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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... Read more »

Stuart Nachbar
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Stuart Nachbar
answered on Mar 21, 2022

Yes, it is acceptable for creditors to speak with each other.

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2 Answers | Asked in Bankruptcy, Contracts and Public Benefits for New York on
Q: Need sum help undrstdng sum financial & car loan complication as well as some advice and explanations on sum othr

Financial obligation. Is there a way to back out of a car loan I am the co-owner of without impacting the main loan holder or is there a way to get lower payments of even possible help with payments Thru any programs?

Howard E. Knispel
PREMIUM
Howard E. Knispel
answered on Mar 15, 2022

While filing bankruptcy will release you of the obligation under the car loan, the other borrower will not be relieved and the lender can recall the loan and reposses the vehicle if the other borrower is unable to pay on their own.

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2 Answers | Asked in Bankruptcy for New York on
Q: Will the trustee allow me to keep my Recovery Rebate Credit from my Economic Impact Payment ?

If the economic impact payments (stimulus checks) were not taken by the chapter 13 trustees then why would the recovery rebate be taken. The recovery rebate is provided on the federal tax return for people who didn’t receive the full correct amount of their stimulus checks (economic impact... Read more »

Timothy Denison
Timothy Denison
answered on Feb 28, 2022

Most jurisdictions are allowing debtors to keep the RRC. Your bankruptcy attorney will know about your district for sure.

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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 »

3 Answers | Asked in Bankruptcy and Workers' Compensation for New York on
Q: If your in a chapter 13 bankruptcy since 2018 and got injured in 2020 and now getting settlement is this exempt
Leonard R. Boyer
Leonard R. Boyer
answered on Jan 21, 2022

This question should be directed to your bankruptcy attorney.

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2 Answers | Asked in Bankruptcy for New York on
Q: Need a response for answer on complaint

Plaintiff does not seek an award of attorney fees contractual or statutory interest after the date of charge-off including any poor judgment interest and expressly disclaims any right it may have to the same

Michael David Siegel
Michael David Siegel
answered on Sep 21, 2021

You chose bankruptcy as the category. I do not understand your question, and would need to see the document about which you are inquiring.

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2 Answers | Asked in Bankruptcy, Employment Law, Workers' Compensation and Employment Discrimination for New York on
Q: Suspended without pay for extended amount of time

I have been suspended from my workplace for almost a month due to a security breach. My account was used to make administrative changes to our users via a vpn connection. Upon looking further into my home network I realized an unknown user has accessed my incoming connection Keylogged my system,... Read more »

Carrie Dyer
Carrie Dyer
answered on Aug 11, 2021

Your employer is not violating the law by keeping you on a leave of absence while the police investigate the security breach. Unfortunately, there is not much you can do in this situation besides wait.

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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
PREMIUM
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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