Avoid Mistakes When Planning and Filing Virginia Bankruptcy Cases

The best-planned bankruptcy cases go unnoticed. A few debtors glide through the system without attracting attention and receive full discharges in record time. Luck is not involved, but rather each successful debtor begins planning strategically a few weeks or months in advance. These debtors know something that you don’t.

Free - 2010 Bankruptcy Strategies Explained

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New York Bankruptcy Laws Regarding, Levy, Seizure, Garnishment

Civil Practice Law & Rules Section 5232 provides, in part, (a) the sheriff or support collection unit designated by the appropriate social services district shall levy upon any interest of the debtor or obligor in personal property not capable of delivery, or upon any debt owed to the judgment debtor or obligor, by serving a copy of the execution upon the garnishee, in the same manner as a summons, except that such service shall not be made by delivery to a person authorized to receive service of summons solely by a designation filed pursuant to a provision of law other than rule 318. In the event the garnishee is the state, such levy shall be made in the same manner as an income execution pursuant to section 5231 of this article. Once the stay has been lifted in New York bankruptcy cases, a levy by service of the execution is effective only if, at the time of service, the person served owes a debt to the debtor or obligor or he or she is in the possession or custody of property not capable of delivery in which he or she knows or has reason to believe the debtor or obligor has an interest, or if the creditor or support collection unit has stated in a notice which shall be served with the execution that a specified debt is owed by the person served to the judgment debtor or obligor or that the judgment debtor or obligor has an interest in specified property not capable of delivery in the possession or custody of the person served.

Operation of New York bankruptcy laws

In practice, the best time to oppose forfeiture and levy is before the New York bankruptcy court. Once the stay is lifted, state law provides a lesser standard for protection of a debtor's interest. For additional information consider one of the most reliable sources of information for New York bankruptcy law, which is available without charge:

New York State Bar Association
One Elk St.
Albany, NY 12207
(518) 463-3200

The state bar provides contact information for city and county bars associations that maintain local listings of lawyers who specialize in New York bankruptcy law. The state bar also maintains a website that includes consumer information pertaining to lawyers who practice New York bankruptcy law.

Regarding New York bankruptcy law:

• If you have legal questions, consult qualified bankruptcy attorneys. NY bankruptcy law is unique relying on state statues pertaining to homestead, property ownership, collection & foreclosure procedures.
• Qualified NY bankruptcy lawyers should be familiar with exemptions set forth in state statutes applicable to  bankruptcy Chapter 7, NY bankruptcy courts, local rules, and court decisions.
• NY Chapter 7 bankruptcy law limits the value of assets that may be retained.
• Dischargeability in Chapter 7 is determined by federal statutes and NY bankruptcy attorneys must be licensed in federal court to represent clients on a regular basis.
• NY Chapter 13 bankruptcy laws may apply when seeking confirmation of a partial plan. Full plans are also available under bankruptcy Chapter 13. NY bankruptcy courts routinely confirm both types of plans.
• Creditors are typically represented by bankruptcy lawyers. NY nevertheless allow debtors to represent themselves dealing with creditors, their lawyers, and the courts. Although pro se debtors do not have legal counsel, they must nevertheless comply with all provisions of New York bankruptcy law.

Regarding New York City bankruptcy lawyers:

• When selecting bankruptcy attorneys, New York City bankruptcy attorneys may be located by calling your county bar association for referrals.
• All New York City bankruptcy lawyers are subject to fee guidelines as determined by the New York City bankruptcy court and New York bankruptcy law.
• When paying a fee for bankruptcy, New York City lawyers are allowed similar rate guidelines as used by the court in other major metropolitan areas paid to lawyers.
• New York City bankruptcy lawyers also use similar forms, but local courts may require supplemental local forms to comply with local rules and New York bankruptcy law.
• All bankruptcy lawyers, New York City, are required to disclose fees charged in accordance with federal and New York bankruptcy law.

In recent years, it seems many New York bankruptcy laws and traditions have been under strict scrutiny. In general, the trend is to limit individual rights while expanding the rights of corporations who file Ch. 11. In NY State, approximately 98% of all cases are filed for individuals under Chapter 7 & 13, while Ch. 11 cases account for approximately 2% of all cases.

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