Am I Eligible to File a Chapter 13 Bankruptcy?

The economic downturn has continued into 2012 for many New Yorkers. A growing number of struggling consumers are falling into bankruptcy because of plummeting home values, dwindling incomes, inability to find regular full-time employment, and disappearance of credit. Chapter 13 bankruptcy, known as the “wage earner bankruptcy,” lets an individual keep property and repay debts […]

When Holiday Shopping Leads to Debt

The holidays are over, and people are recuperating from the malls or at the local department stores. It was fun looking for gifts for our families and friends. Great deals were advertised. People got up early for the specials. Now comes the credit card bill at the end of December showing the deals were not […]

Be Prepared for the 341 Hearing in a Chapter 13

The US federal court system allows for electronic filing of documents. A bankruptcy petition is usually filed electronically. Once a document gets filed with the court, all interested parties are notified of the filing. There is a website where bankruptcy cases and all documents filed with the court can be viewed or printed. After a […]

Do not Keep a Home Purchase a Secret During Bankruptcy

For the ordinary person who sees a home he/she likes, s/he may let a real estate agent know to begin the purchase process, and conclude by signing their name in closing documents, making where s/he lives public in home sales reports. However, according to Zillow.com, celebrities often keep where they live a secret with non-disclosure […]

Chapter 13 Trustee

When an individual files a Chapter 13 petition in New York, a trustee is appointed by the court to administer the bankruptcy case. With electronic filing of bankruptcy petitions under the federal court system, the debtor usually hears who is the trustee as quickly as the day the petition gets filed. Depending on the jurisdiction, […]