What exemptions apply in New York?
New York has opted out of the Federal
Bankruptcy Exemptions and and Federal Bankruptcy Trustees apply New
York State law exemptions in a Federal Bankruptcy
case filed in Elmira and surrounding counties. New York exemptions are limited as to
specific types of personal property.
Why not just put
my property in trust before filing?
Chapter 7 trustee's have "strong arm powers" to carry out Federal
Bankruptcy Laws, including the power to set aside transfers of
property, to take and liquidate non-exempt assets, and to file suit.
What if I can't afford to pay for an attorney to file a chapter
7?
If chapter 7 is the best case for you to
file, payment arrangements can be worked out for you. If you really want to
save money, you could work out a mini-repayment plan, in which just
the administrative costs and fees of a chapter 7 are paid to the
attorney who works on your behalf, and your payment plan could be
for as little as 6 months.
What are the differences between the different bankruptcy
attorneys in this area?
The results between attorneys in most situations will be
substantially the same. The difference is in how your case is
handled.
Why use the office of Charles E. Andersen?
Unlike many attorneys we are committed to debtor representation. Our
office will maintain a constant communication with your creditors to
see that you never receive an illegal telephone call or collection
notice after the filing of your case. Our preparedness and attention
to detail are noteworthy.
Does anyone ever oppose a Chapter 7 case?
Yes!
Chapter 7 cases may be dismissed, after notice and a hearing, if the bankruptcy petition was filed by an
individual debtor with primarily consumer debts under circumstances constituting a
substantial abuse of relief under Chapter 7.
a. Criteria: The courts have considered the following factors in deciding whether to
dismiss a Chapter 7 case on the ground of substantial abuse
(1) The probability that the debtor's future expected income will be sufficient
to pay a significant percentage of the unsecured claims under a Chapter 13 plan;
(2) The debtor's reason for filing the Chapter 7 petition, e.g., because of unemployment, medical expenses, disability, or other misfortune;
(3) The extent to which the debtor obtained cash advances and made consumer purchases beyond her ability to repay,
(4) The excessiveness or extravagance of the debtor's anticipated family budget; and
(5) The extent to which the debtor's income statement misrepresents her
actual financial condition.
b. Presumption:
There is a statutory presumption in
the debtor's favor regarding the question of whether granting relief
would be a substantial abuse of Chapter 7.
