It has happened a number of times to me. A client comes in inquiring about bankruptcy. Often, one of the specific motivations for inquiring about bankruptcy is that the potential debtor owns real property somewhere (PA, FL) that is ridiculously underwater. They have tried short selling the property, to no avail. The lender will not […]
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Once in a while, I speak with someone inquiring about bankruptcy. Many boilerplate agreements, such as residential leases or contracts you can purchase in a store, contain an ipso facto clause – if a party files for bankruptcy, then the contract is terminated. Many, if not most courts, have held that such clauses are unenforceable.
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I get inquiries fairly regularly concerning whether an individual that does not have a social security number may file for bankruptcy. When it comes to social security bankruptcy, the answer is yes. In one case out of the Bankruptcy Court for the Southern District of Florida, the court ruled that a debtor without a social […]
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For homeowners, especially those that have dealt with foreclosure and have multiple mortgages recorded against the real property, this post is a MUST-READ for you.
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A decision was recently issued from the Chief Judge of the Bankruptcy Court for the Eastern District of New York. The case presented the question of whether monetary sanctions are appropriate when a debtor in bankruptcy is served with judicial pleadings. The answer is a resounding yes. In this case, the debtor filed for chapter […]
KEEP READING . . .It happens, and it is most often an unintended consequence. Someone you know – a family member, a friend, someone you did business with – has filed for bankruptcy. Out of the blue, you receive a Summons and Complaint from the “Trustee of the Estate of that person or business.” You have no clue what […]
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With many individuals still facing unemployment and stagnant income, hundreds of consumer credit lawsuits are filed against individuals in New York City courts every day. The king’s share of these lawsuits are brought predominantly by credit card companies, debt collection companies and medical billing companies. They are often received by mail, and often do not […]
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