Bankruptcy exemptions for New York cases are governed by state law rather than by the U.S. Bankruptcy Code. Under Section 522 of the U.S. Bankruptcy Code, a consumer domiciled in New York can exempt only personal and real property exempt under Section 5205 and Section 5206 of the ...
Tag Archive: automatic stay
Reaffirmation in Bankruptcy Explained
Reaffirmation is a key component of a Chapter 7 bankruptcy case, usually affecting your home or car. You decision is a critical one, and may affect you for years after your bankruptcy case is discharged. What is reaffirmation? Technically, ...
Automatic Stay Relief – How And When Creditors Get It
Let's say you file for bankruptcy and get the benefit of the automatic stay. You've got a mortgage or a car loan so when you file for bankruptcy the lender can't ...
How Long The Automatic Stay In Bankruptcy Lasts
The automatic stay is a powerful remedy that comes into effect as soon as your bankruptcy case is filed, but the stay doesn't last forever. You need to realize that ...
What Actions The Automatic Stay Does Not Cover
We now know what the automatic stay does, and what it covers. But if you review the list of what is covered by the automatic stay, ...
