New York Bankruptcy Legal Questions

Good morning.  You can file for bankruptcy without affecting his home as long as you were not on the mortgage and you otherwise qualify.  If you are considering doing so and are located within NYC or Nassau or Suffolk County and would like to discuss it further, please give me a call.... Read Answer

There should be no need for you to refinance.  Secured debt that is not reaffirmed, such as a mortgage, should reflect on your wife's credit report as 'included in bankruptcy' and show a $0 balance, and not drop off her credit for approximately 7-10 years.  She should dispute the reporting online with the credit bureaeus if this is not how it is being reported.  Some companies will delete the reporting all together but that is not required.   Anyone running her credit for the pupose of obtaining a mortgage should understand the non reaffirmed debt reporting and understand that she is not responsible for the debt.  She will likely have to provide a copy of the discharge order and possibly a copy of the petition and Statement of Intent which states her surrender of her interest in the property/mortgage.... Read Answer

The answer depends on whether you received a discharge in your prior case, which Chapter under which you filed, and which Chapter under which you seek to file now. There are different time periods that have to run depending on the above. For specifics on the different options and time periods for filing bankruptcy, see https://www.bklaw.com/bankruptcy-blog/2012/11/time-between-filing-bankruptcy/... Read Answer

The best solution can only be determined after a comprehensive consultation with an experienced bankruptcy attorney in your area.  They can go over both your bankruptcy and non-bankruptcy options and, based on the facts of your situation, advise you on the benefits and costs of each, so you can decide the best solution for you.  ... Read Answer

1.  There is no limit to the number of times you can file a bankruptcy case.  The issue is whether you can receive a discharge of debts in the particular chapter under which you are filing.  And that depends on which chapter your prior case(s) was filed under, how long ago it was filed, and whether you received a discharge. For a detailed explanation of all the timelines and requirements, see https://www.bklaw.com/bankruptcy-blog/2012/11/time-between-filing-bankruptcy/   2.  There are many differences between Chapter 7 and 13.  The main difference is that in Chapter 7 you do not make payments to your creditors and the Trustee will liquidate (i.e. sell) any non-exempt assets you have.  In a Chapter 13, you get to keep all your assets, but you must pay your creditors over time at least what they would receive in a Chapter 7 and not less than your disposable income shows you have the ability to pay.    There are many other differences and requirements, which is why God invented bankruptcy attorneys.  You should avail yourself of the knowledge of one in your area to go over the specifics of your situation and advise you on your eligibility and options.... Read Answer