How to wipe out credit card debt
The answer to this question is not a simple one. There are several different strategies to getting out of credit card debt. Much of the issue depends on how much credit card debt you have. If the numbers are not overwhelming then the strategy is not as difficult. First, you should call the credit card […]
What questions will the Bankruptcy Trustee ask at my 341 meeting of creditors in New York
Here is an outline of what to expect in Manhattan (Southern District of New York) and Brooklyn (Eastern District of New York) Bankruptcy meeting of creditors. Currently, do to the COVID virus the meetings are being done over the phone or via zoom. You will still need your license and social security card with you. […]
What are the Requirements to file for Bankruptcy?
Anyone, whether or not a US citizen may file for bankruptcy as long as he/she has property, resides in the US or has a business in the US. The individual does not even need to live in the US as long as they have assets in the US. Children can file either through a court-appointed […]
Who is the US Trustee?
Every jurisdiction aside from Alabama and North Carolina have a United States Trustee. Since 1986 the United States Trustee program was created to perform many of the administrative duties of the court. This allows the Bankruptcy Court to focus on the legal disputes that may arise. The US Trustee also performs random audits on debtors […]
Who is the Bankruptcy Trustee?
When a debtor files for bankruptcy under chapter 7 or 13 of the U.S. Bankruptcy code a “bankruptcy trustee” is appointed by the US trustee. In certain Jurisdictions there are different titles given to the “bankruptcy trustee” but the purpose is the same. Since the US Trustee is unable to personally handle each and every […]
How should I invest in the stock market in the recession?
Thanks to Dave Kansas for his article in the Wall Street Journal on August 5, 2011, page C1 entitled “Time to Panic? Just the opposite” Even as stock prices continue to plunge this week it seems that S&P 500 companies are still running strong. That is, having record years. While new investment strategies are probably […]
Stocks take a nose dive across the board!!
Thanks to Tom Lauricella from the Wall Street Journal article “Stocks Nose-Dive Amid Global Fears” on page A1, August 5, 2011. On Thursday August the 4th stocks continued to fall across the board. This is the worst point for stocks since the financial crisis of December 2008. The dow fell over 512 points and […]
Tax Discharge and Bankruptcy for Attorneys
How to get Federal and New York State taxes discharged in bankruptcy One common myth regarding bankruptcy is that taxes cannot be discharged. While it is true that most taxes are non-dischargeable, through a rather complicated analysis, many taxes actually are dischargeable through bankruptcy. This will first focus on the taxes that are absolutely non-dischargeable […]
Bankruptcy And Taxes In New York City
First, it is important to understand how a bankruptcy filing works. For individuals or married couples there are 2 main types of filings in New York. This first, and most common, is chapter 7 or “Liquidation Bankruptcy”. When an individual or couple files for chapter 7 a bankruptcy “estate” is created. This covers everything owned […]
How can I file for Bankruptcy without a lawyer?
This post contains the basic steps to filing a consumer bankruptcy case to illustrate the complexities, potential problems and issues that face a consumer who chooses to “go it alone”. Filing bankruptcy is a very involved and difficult process. While this post contains a skeleton outline of how a basic case can progress, every case […]