Bankruptcy Law Network

Credit Cards, Cab Drivers And The Economy ?

jay@drlcny.com (Jay S. Fleischman)

New York City has noticed the percentage of people paying cab drivers with a credit cards has risen dramatically in the past two years. The question is whether the use of credit cards has risen for convenience purposes or because of the economy? Other cities have been slow on the take, and they have not [...]

Should the business file bankruptcy

jay@drlcny.com (Jay S. Fleischman)

The first question for a business owner considering bankruptcy is: do you have the time, energy, and desire to continue the business? (Read the other four questions for struggling businesses). Entrepreneurs are the most optimistic, hard working, and determined individuals in the world. Often my task is to puncture their irrational optimism: they are convinced that [...]

How Much Did The Health Care Debate Cost This Week?

jay@drlcny.com (Jay S. Fleischman)

The headlines yesterday all carried the same story. The Health Care Bill passed by the House of Representatives died. Life support cannot save this Bill. So, why did our elected officials go through the motions knowing that the Bill did not have a chance of passing in the Senate? Do you think they already knew [...]

What Is A Pay Advice?

jay@drlcny.com (Jay S. Fleischman)

What is a Pay Advice? A pay advice is any document that provides written evidence of your income. The most obvious example of a pay advice is a pay stub, but a pay advice can also be a printout of your income and withholding from your employer. In fact, more and more often I will have clients [...]

What to Expect at Your §341 Meeting

jay@drlcny.com (Jay S. Fleischman)

The §341 Meeting, also called the meeting of creditors, is a meeting that takes place around 20 to 40 days after your bankruptcy case is filed. At this meeting the case trustee assigned to your case, and any creditors who wish to attend, will be present. The case trustee will ask you a series of [...]

Procedure For Enforcing The Bankruptcy Discharge In New York

jay@drlcny.com (Jay S. Fleischman)

A typical bankruptcy case in New York results in the issuance of a Discharge of Debtor, which releases the debtor from all collection activities in connection with a discharged debt. Many New York bankruptcy lawyers believe that the only way procedurally to enforce the discharge injunction is by filing an adversary proceeding. The recent case [...]

South Carolina Bankruptcy Lawyer Unleashes Vulcan Intellect on the Hanging Paragraph

jay@drlcny.com (Jay S. Fleischman)

In a move that shocked and amazed the South Carolina bankruptcy community, attorney Dennis Toney of Charleston scored a big victory for his clients by successfully challenging the application of the 910-day rule. Toney’s keen analysis has led some to question whether Toney is part Vulcan, or 100% human as previously thought. An investigation is [...]

Mortgage Payments Now Inside the Plan for the Eastern District of North Carolina

jay@drlcny.com (Jay S. Fleischman)

This week, the United States Bankruptcy Court for the Eastern District of North Carolina entered an order mandating that mortgage payments will now be made through the debtors’ chapter 13 plan. These are often called “conduit” plans because the chapter 13 trustee acts as a conduit for the mortgage servicer and collects payments on the [...]

What does a Chapter 7 Flowchart Look Like?

jay@drlcny.com (Jay S. Fleischman)

There are thousands of bankruptcy attorneys out there throughout the United States practicing bankruptcy law. While each may run his or her practice a little differently than the others, they are all still bound by the same federal laws found under Title 11 of the US Code. Accordingly, each chapter 7 case is more or [...]

Some Assets Are More Protected Than Others: Bankruptcy Exemptions

jay@drlcny.com (Jay S. Fleischman)

As unemployment rates continue to rise, it is a good idea to try to bunker down and prepare for the worst so you can ride out the storm if you find yourself among the unemployed, or facing a pay cut. There was some good advice in an article in the Wall Street Journal on November 6, [...]