chart of filings nationally Fewer people have filed bankruptcy petitions so far in 2011 than they did in 2010. Last year there were over 1.5 million bankruptcies filed in the United States. In the first quarter of 2011 there were 6% fewer cases filed than there were in the first quarter last year. In March [...]
Peter Orville, Binghamton Bankruptcy Lawyer
You always have options if there are significant changes in your life during your Chapter 13. If you’ve been laid off, become sick, split up with your spouse or just can’t keep up with the rising price of gas, don’t give up hope. Your Chapter 13 is flexible…it can be modified to adjust to life’s [...]
When you file a Chapter 13 bankruptcy case, you are asking the Bankruptcy Court to allow you to accept a payment plan that will pay off your debts in an affordable way. Your confirmed plan is an agreement that you will pay a monthly payment to the Chapter 13 Trustee for between 36 and 60 months, which will pay a certain percentage [...]
What is the purpose of bankruptcy? Is it to take a debtor’s assets or future income and pay at least something back to creditors? Is it to give a debtor the opportunity for a “fresh start”? The US Supreme Court has recently decided that the purpose of the 2005 amendments to the Bankruptcy law was to [...]
The recent Supreme Court decision of Schwab v. Reilly dealt with a rather technical question of just what are debtors protecting when they claim an exemption in their bankruptcy? The Court said that a debtor must indicate that they are claiming an exemption for the full value of the item not just a portion of [...]
Many landowners, particularly struggling farmers in Upstate New York, are trying to get out of gas leases they signed several years ago and replace them with new gas leases. It could make a difference of over $1,000,000 to the landowner. Filing bankruptcy could be the tool they need. For several years gas companies have known [...]
