Chapter 13 Caselaw Review: Can I Request Loss Mitigation If I Am On The Deed To A Property But Not The Mortgage?
Occasionally in a bankruptcy filing, a debtor is on a deed to a property but not on the mortgage attached to it. This sometimes occurs when either (1) a property is inherited or (2) when a spouse remarries. In these circumstances, a question arises in the Chapter 13 context, can the debtor who is on […]
Revised Means Test Numbers For Bankruptcy Cases Filed After May 1, 2018
Effective May 1, 2018, there are now new means test figures for debtors filing for bankruptcy. These numbers are set by the US Trustee Program, which is a division of the Justice Department. The means test is essentially a budget test which applies if a debtor exceeds than the median income for their household size […]
Do I Have To Take The Credit Counselling Course Before I File A Bankruptcy Petition?
Since the passage of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, before a debtor files for bankruptcy relief in Chapter 7 or Chapter 13, they are required to take a credit counseling course. See 11 U.S.C. § 109(h). Without a certificate that shows that the debtor completed the course, their case will […]
What Are My Rights If The Information On My Credit Report is Wrong or Incomplete?
The Fair Credit Reporting Act (FCRA) is a federal statute that was passed originally in 1970 and revised in 2003. It was passed with the goal of increasing the accuracy, fairness, and privacy of consumer’s information in the files of credit bureaus and other specialty consumer reporting agencies and in doing so promote efficiency in […]
How Can I Stop Creditors From Harassing Me?
Many debtors who contact our office are not only struggling financially, but they are actively being harassed by creditors. This includes harassment by all forms of creditors or their agents: their original creditors (the party who originally extended credit), debt buyers (companies that purchase delinquent debts), and debt collection companies or law firms (who are […]
How Many Times Can I File For Bankruptcy?
Unfortunately, in life, sometimes there may be financial hardships which could prevent one from being able to pay their bills. As a Brooklyn bankruptcy attorney, many clients ask us, “How many times can I file for bankruptcy?” If you find yourself in a financial crisis after you have previously filed for bankruptcy, your ability to […]
Collection Agency Trying to Collect Discharged Debt
Generally, debt collectors do not attempt to collect on debt after it is discharged in bankruptcy. However, what are a debtor’s rights if someone is trying to collect on a discharged debt? In this blog, we will review a debtor’s options, both inside and outside of Bankruptcy Court, for improper debt collection efforts post-bankruptcy discharge. […]
What is The Means Test in Bankruptcy?
When Congress passed The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (often called BAPCPA), they amended § 707 of the Bankruptcy Code and created a financial eligibility test for debtors looking to file Chapter 7 Bankruptcy. Quite simply, the law imposed a budget test called the “Means Test” to determine if consumers should […]
What Property Can I Keep in Bankruptcy Using the Federal Exemptions?
The U.S. Bankruptcy Code (11 U.S.C. § 522) sets forth the exemptions for different types of property that a debtor can keep when they file a bankruptcy petition. In other words, there are specific rules regarding what property a debtor can keep when filing for bankruptcy. In this post, we list the commonly used federal […]
What Property Can I Keep When Filing For Bankruptcy?
Many people who are considering bankruptcy wrongfully think that they have to give up all their property, personal and real estate, when they file for bankruptcy. Fortunately, this is generally not the case. The Bankruptcy Code allows debtors to keep certain property (both personal property and real estate) when they file a bankruptcy petition. This […]