Bankruptcy is too complex, making it costly and difficult for people to file under either Chapter 7 or Chapter 13. We need to make it as simple as filing a 1040EZ tax return, and demand greater levels of documentation for more complex cases.
So says Columbia Law School professor Ronald Mann (he’s the guy in the [...]
Bankruptcy information for New York consumers. Published by Jay S. Fleischman, a New York bankruptcy lawyer helping consumers end their bill problems using Chapter 7 and Chapter 13 bankruptcy.
Tag Archive: Chapter 7
Bankruptcy Forms Don’t Make For Higher Legal Fees
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, a reaffirmation is a “re-promise.” In the context of a bankruptcy case, I tell my clients [...]
Chapter 7 Bankruptcy After Denial of Discharge
Chapter 7 bankruptcy is rife with pitfalls, and there are a number of ways to get your discharge denied. But what happens if you need to file after the denial, and are ready to play by the rules of Chapter 7 this time around?
First, we need to talk about denial of discharge in Chapter 7 [...]
NYS Bankruptcy Laws – Federal Law, Local Law And Practice
New York State bankruptcy laws are unique inasmuch as they reside within the federal Bankruptcy Code. In fact, the laws vary from courthouse to courthouse, trustee to trustee.
Let me explain. We all know that bankruptcy laws are federally-based. Title 11 of the United States Code governs how bankruptcy cases are handled, administered, and filed. [...]
Bankruptcy Definitions – Equity
Equity is one of the most important terms when it comes to your bankruptcy case. When determining whether you can keep property in Chapter 7 bankruptcy, your lawyer will often look to the amount of equity. Too much and you could lose it, so you can see why it’s so important.
Put simply, equity [...]
