How Do Debtors Prioritize Their Debts? – Bankruptcy Lawyer Brooklyn NY

Chapter 13, by contrast, does allow debtors to discharge these debts, giving debtors another advantage. If you are struggling financially, and you owe old tax debts, then talking to an experienced New York bankruptcy lawyer will help you assess your options, which can include bankruptcy or making an offer in compromise to the IRS.

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In June, the supreme court rejected puerto rico’s attempt to allow its utility companies to restructure their debt, leaving it to Congress to finalize a rescue plan for the island’s fiscal woes. The.

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For New York bankruptcy debtors, owning a car magnifies the importance of the decision to file in chapter 7 versus chapter 13. In chapter 7, debtors must choose if they will surrender or redeem their vehicles, or if they will reaffirm or simply keep paying their auto loans. Chapter 13 debtors can expect their auto

Questions about Mortgages & Chapter 7 Bankruptcy In New York Why Was My Mortgage Included in My Bankruptcy Case? All debts MUST be listed in a bankruptcy case. That is the intent if not the specific language of the Bankruptcy Abuse and consumer protection act of 2005. Therefore, to use the vernacular, your mortgage “was included in the.

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Bankruptcy Attorneys in Brooklyn, NY. Hide Filters. Specialties. bankruptcy. real estate. estate planning. Tax. Foreclosure. My Location. Search By Name. Reset filters. Information on this page is provided ‘as is’ and solely for informational purposes, not for any other purpose or advice.

If you live in a metropolitan city like New York or San. When you do the math after taxes–and, sadly, as many of my friends have discovered–the numbers just don’t add up. Many are thrown into.

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It grew by $300 billion from the third quarter of 2008 even as other forms of debt shrank by $1.6 trillion, according to a separate tabulation by the Federal Reserve Bank of New York. “The law is.

It also injured their mothers. The Brooklyn district attorney’s office said the case remains. Five years after the accident, Bruns and her husband were drowning in debt and filed for bankruptcy. At.

Many people in New York have taken advantage of the bankruptcy laws in the state to receive a wipe out of their debts and protection from their creditors harassing them for collection. In the four New York bankruptcy courts 35,975 people filed chapter 7 bankruptcy in the 12 months ending September, 2012 while another 6,595 people filed for NY.