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I’m a contractor, and have to close my business. What about unpaid liens?

That makes you a candidate for what’s called chapter 20: a chapter 7 case followed by a chapter 13 case. Under Article 3A of the New York Lien Law, first moneys paid to a contractor for construction are received in trust for paying laborers, subcontractors, and material suppliers. Failure to keep records of these accounts Read More

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I discharged my unsecured debt in chapter 7. Can I now file chapter 13 to deal with secured debt?

A chapter 13 case following-on a chapter 7 case where the debtor received a discharge is called a “chapter 20”.  To be eligible for the second half of the chapter 20, i.e, the chapter 13 case, you have to come within the chapter 13 secured and unsecured debt limits, currently $1,184,200 secured and $417,275 unsecured. Read More

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What is the means test, and how would it affect me?

The means test is a financial gateway, which you must pass through to safely file for chapter 7 protection. It is found at Bankruptcy Code section 707(b), and supposedly tests for ‘abuse’ of the provisions of chapter 7.  Prior to the extensive 2005 re-write of the Bankruptcy Code at the behest of various deep-pocketed creditor Read More

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