The April 2018 New York City Taxi & Limousine Commission (TLC) sales results have been released to the public. And as is our practice, provided below are James Shenwick’s comments about those sales results.
1. The volume of sales continues to decline. In April, there were only 23 taxi medallion sales (excluding stock transfers).

There are times during a bankruptcy proceeding where a creditor will decide to challenge the automatic stay. The purpose of challenging the automatic stay is to allow the creditor to move forward with any legal action against you for the debt that you owe them. A preliminary hearing on the request to lift the stay is held within 30 days, followed by a final hearing within 30 days after the preliminary hearing.

After bankruptcy, get a credit card. Get a couple. Getting back to good credit is one of the five ways bankruptcy gives you a new start. The bankruptcy itself helps quite a bit, because the old debts stop chasing you. But to really improve your credit score you have to get and use two or […]

Does Bankruptcy Write Off Criminal Fines or Restitution? Bankruptcy does not write off criminal fines or restitution. The “automatic stay,” which stops almost all other collection actions, does not stop any criminal court proceedings.

By Barry Ritholtz

On this day May 4, 2011, Uber NYC launched. It filled an enormous, artificial void that was created by the Taxi and Limousine Commission at the behest of the Yellow Cab medallion owners.

Divorcing Spouses File a Chapter 7? A “joint case” is one filed “by an individual… and such individual’s spouse.” “Spouse” is not defined in the Bankruptcy Code, but presumably refers to someone who is legally married to the “individual.”
So, if you and your spouse are contemplating divorce, you CAN file a Chapter 7 “straight bankruptcy” jointly.
But Should You File Together?

Credit counseling and post-bankruptcy debtor education courses must be taken by every individual that files for Chapter 7 bankruptcy or Chapter 13 bankruptcy, with few exceptions.
 
PRE-BANKRUPTCY CREDIT COUNSELING
The pre-bankruptcy credit counseling class includes information on credit counseling opportunities and provides assistance in performing a budget analysis. This consumer bankruptcy counseling is an opportunity to understand the personal budget process and learn simple ways of tracking income and expenses.
 

What is Zombie Debt?
Zombie Debt, also referred to as Stat debt or Out of Statute debt, refers to debt that is very old or no longer owed. Effectively, these debts have “come back from the dead” to haunt you again. Debt scavengers are debt collectors who purchase zombie debt from a source – the original creditor, a successor creditor who bought the original creditor’s debt, or even from another debt collection agency – often for pennies on the dollar, and who attempt to collect the debt from the debtor.

We get it. You want to co-sign a student loan or feel like you should anyway. After all, you want to help anyone in your family get an education and it’s just co-signing. If they make all the payments, everything will be fine. The reality is that co-signing these loans can put you in a place where bankruptcy will be your only option.

By Emma G. Fitzsimmons