Articles Posted in New York Chapter 7 Bankruptcy

U.K based Cambridge Analytica, the company that was caught up in the data harvesting scandal with Facebook has filed for bankruptcy in a New York Court. The move comes on the heels of them announcing the winding down of their operations in the UK. The company listed $1-$10 million in liabilities in its filing. In…

Once you file a Bankruptcy Petition, the law protects you from continued creditor harassment. AFederal Court awarded a debtor $63,000 in compensatory damages and $63,000 in punitive damages when a debt collector continued to harass a debtor after he filed Chapter 7 bankruptcy. This case, In Re Burch v. Bank of America decided on July…

As if times are not tough enough for bankrupt debtors, The US Bankruptcy Court just announced a cross the board increase in filing fees, effective December 1, 2016. The latest, revised rates for filing a Chapter 7 Bankruptcy are $335. Similarly, the filing rates for Chapter 9 and a Chapter 11 Bankruptcy also increased to…

Benefits of the Wildcard Exemption in Chapter 7 Bankruptcy You do not have to be flat broke to file Chapter 7 Bankruptcy. In fact, today you can retain more of your assets when filing Chapter 7, by electing to take advantage of the Federal “Wildcard” exemptions when you file New York Chapter 7 bankruptcy. Until…

NY State Doubles Homestead Exemption Filing a Chapter 7 Bankruptcy in New York has just gotten easier for hundreds of thousands of homeowners in New York. In December 2010, the state increased the homestead exemption from $50,000 to as much as $150,000, per individual, $300,000 per married couple in some New York jurisdictions. This means…