Legal Question in Bankruptcy in New York

File or not?

My husband and I are in debt way above our head. We have just been served a summons of complaint from one of our creditors. We have several creditors and would not be surprised to receive additional summons in the near future. We really would like to file Bankruptcy BUT we have had a law suit going on for 2 years due to an automobile accident I was in and expect an award within the next few months from Arbritration. The low is 10k and the high is 80k, no gaurantees. My question is do we file and take a chance of loosing the whole award or what are our other options?

Thank you


Asked on 2/11/06, 2:12 pm

1 Answer from Attorneys
Jay Fleischman Shaev & Fleischman LLP

Re: File or not?

Your question has been submitted to the Debt Podcast, a downloadable audio program available online at www.DebtPodcast.com.

If you don't know what a podcast is, that's ok - lots of people don't know about podcasts yet. You can think of a podcast as the audio version of TiVO, allowing you to download mp3 files onto your computer or portable media device.

WHAT SOME PEOPLE DON'T UNDERSTAND ABOUT THE DEBT PODCAST

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Go to the easy instructions at the bottom of this email to get the hookup.

The Debt Podcast is periodic MP3 audio program featuring personal finance news and information designed to keep you out of debt and re-build your good credit. We offer tips and tricks on how to correct credit report errors, battle debt collectors, re-build your credit after bankruptcy, and how to budget without reducing the quality of your life. Even if you're not in debt, you should listen to get more information on learning how to keep more of your money in your pocket.

We also play some terrific podsafe music that you may not have heard anywhere else. Hosted by our own Jay S. Fleischman, the Debt Podcast has something for everyone.

HOW TO LISTEN TO A PODCAST

If you've never podcasted before, you might want to check out our web site at www.DebtPodcast.com and click on any of the subscription links to listen through iTunes or any other podcatching or RSS reader.

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Answered on 2/15/06, 9:42 am


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