Chapter 7 Bankruptcy: How long will it take?

On July 28, 2011, in Bankruptcy, by Robbie L. Vaughn, Esq.

How long will my chapter 7 bankruptcy case take to close?

Well, most of our chapter 7 bankruptcy cases take roughly 3 months from case filing until discharge/case closure (Note: Discharge and case closure are not the same thing).

Additionally, when your attorney files his or her chapter 7 bankruptcy cases could add to the length of time you are waiting for  your bankruptcy case to close. Some attorneys “batch file” their chapter 7 cases. They hold their chapter 7 cases and file them together on a particular day (i.e. the end of the month).  We file our bankruptcy cases as they are ready to be filed. As always, we hope that you found this information helpful.

The Law Firm of Vaughn & Weber, PLLC,  proudly assists residents of Long Island (Nassau county, Suffolk county) and New York City (Queens, Brooklyn and Staten Island) with their bankruptcy filings. Call (516) 858-2620 to arrange a FREE  consultation with a bankruptcy attorney!

 

Cash Advances and Bankruptcy

On May 12, 2011, in Bankruptcy, by Robbie L. Vaughn, Esq.

Cash advances taken shortly before filing bankruptcy can be problematic for the debtor. Some creditors will file an adversary proceeding if they believe the cash advance is nondischargeable. This type of adversary proceeding  is basically a lawsuit against you to determine the dischargeability of the cash advance. It must be defended like any other lawsuit or a default judgment will be taken against you. This type of action is by no means a slam-dunk for the creditor. However,  some cash advances are presumed nondischargeable. This basically makes it easier for the creditor to make their case. Therefore, it would be wise to mention cash advances you have taken to your bankruptcy attorney before he of she files your bankruptcy case.

We proudly assist residents of Long Island (Nassau county, Suffolk county) and New York City (Queens, Brooklyn, Bronx, Staten Island, Manhattan) with their bankruptcy filings. 

Call (516) 858-2620 to arrange a FREE  consultation with a bankruptcy attorney!

Did the Means Test get easier?

On March 17, 2011, in Bankruptcy, by Robbie L. Vaughn, Esq.

Did the Means Test get easier?

The means test is a method of determining a person’s eligibility to maintain a chapter 7 case. It plays a major role in determining if a person can file a chapter 7 bankruptcy or must file under a different chapter of the bankruptcy code.

On March 15th the New York median household income increased. This allows those looking to file for chapter 7 bankruptcy to make a little more money, but still pass the means test. Generally, what is meant by passing/failing the means test:

Passing the means test = you can likely file a chapter 7 bankruptcy.
Failing the means test= you likely won’t be able to file a chapter 7 bankruptcy.

So, this increase should allow more people to pass the means test.

This is good news! However, the above is all very general information. You should discuss your specific situation with a knowledgeable bankruptcy attorney before deciding to file, or not file for bankruptcy.

We proudly assist residents of Long Island (Nassau county, Suffolk county) and New York City (Queens, Brooklyn, Bronx, Staten Island, Manhattan) with their bankruptcy filings. We are conveniently located in the heart of Nassau County, Long Island, at 393 Jericho Tpke., Ste. 208, Mineola, NY 11501

Call (516) 858-2620 to arrange a FREE  consultation with a bankruptcy attorney!

The information you obtain at this site is not, nor is it intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation. This website is Attorney Advertising. It does not form an attorney-client relationship. We are a debt relief agency and a law firm that helps people file for bankruptcy relief under the U.S. Bankruptcy Code – Title 11. Prior results do not guarantee a similar outcome. Proudly assisting residents of Long Island, Nassau county, Suffolk county, New York City, Queens, Brooklyn, Bronx, Staten Island, Manhattan