Legal Question in Bankruptcy in New York

Going to lose my house because 7mo later my bankruptcy is still not fiiled.

I gave all info for chapter 7 to an atty in Sept 04. Now, 04/05 he sent me to a friend of his to do the bankruptcy.

When I turned this over to the orignial atty, my house was assesed at 61,500. I owe 59,500. Now a new assesment claims my house is worth 101,800. Even if they lower the assesment, if I end up with more than 10k in equity there is a very good chance I'll loose my house. If that does happen, was the original attorney negligent for not filing my case in a timely manner? If he had filed my bankruptcy 7 months ago, none of this would be happening.

I am a single mom and I have no where to go if this happens.


Asked on 4/15/05, 7:47 am

2 Answers from Attorneys
Andrew Nitzberg Andrew Nitzberg & Associates

Re: Going to lose my house because 7mo later my bankruptcy is still not fiiled.

The assessment is not determinative. Get an estimate from a real estate agent or go down to the county courthouse and check on recent sales in your neighborhood. (It is very easy and the clerks will help you.)

What counts are 'comparative sales'. Find one house in your area that went for 60,000 more or less in the last 2 years and you can discuss keeping the 60,000 estimate with your new lawyer.

Tax assessments are not meaningful. They are political, not economic estimates. The court will not be bound by such an estimate.

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Answered on 4/15/05, 1:41 pm
Frank Loscalzo Law Office of Frank Loscalzo

Re: Going to lose my house because 7mo later my bankruptcy is still not fiiled.

If you did not give the attorney, an appraisal, you did not give him all the paperwork needed.

Also, most bankruptcy attorneys get paid in full, up front. Did you pay him?

If you gave him the appraisal, and you paid him, now you can call him negligent.

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Answered on 4/15/05, 3:04 pm


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