Legal Question in Bankruptcy in New York

Re: meeting of creditors

The Trustee is correct; YOU NEED A LAWYER. Hire one who is geographically close to you with whom you feel comfortable. They don't need to be the ones suggested by the Trustee, although I'd take the Trustee's word as to who's good. You can get other referrals through your county's bar association or through the NYS Bar Association (www.nysba.org).

Good luck.

THE INFORMATION PRESENTED HERE IS GENERAL IN NATURE AND IS NOT INTENDED, NOR SHOULD IT BE CONSTRUED, AS LEGAL ADVICE. THIS POSTING DOES NOT CREATE ANY ATTORNEY-CLIENT RELATIONSHIP BETWEEN US. FOR SPECIFIC ADVICE ABOUT YOUR PARTICULAR SITUATION, CONSULT YOUR ATTORNEY.

Re: meeting of creditors

You should consult with a qualified bankruptcy lawyer ASAP.

The meeting of creditors is conducted by the trustee, not a judge. You are participating in a process in which you don't even know who the other participants are. That is unfortunate. You are at a tremendous disadvantage without a lawyer.

In NY the exemption that a debtor can claim for real property (i.e., real estate) is for property that that the debtor �owns and occupies as a principal residence.� That is why it is commonly referred to as a �homestead� exemption. If the property is not the debtor�s principal residence then the debtor should not be able to claim the exemption.

A trustee in bankruptcy has the ability under the Bankruptcy Code to seek the sale of both the interest of the estate (i.e., the non-exempt property of the debtor) and any co-owner in the property in which the debtor at the time of the commencement of the case had an interest as tenant in common, joint tenant, or tenant by the entireties. However, there are safeguards in the Bankruptcy Code to protect the rights of the non-debtor parties and they have the right to challenge any such proposed sale. Whether the Court will grant such a sale in a particular instance depends upon a number of factors specified in the Bankruptcy Code and relevant case law.

The meeting of creditors is not a deadline for the trustee to seek turnover of property of the estate, nor a deadline for the trustee to bring on a motion for a sale along the lines discussed above.

The foregoing is intended as general information of interest to readers of this website and is not intended as legal advice for your specific situation. Facts and circumstances not disclosures in your short posting may materially affect your rights. You should consult with a qualified bankruptcy attorney regarding your rights.

Rather than one suggested by the trustee you may want to contact your local bar association's legal referral service for a referral to a competent attorney. In NYC, the City Bar Association runs a good one (tel 2126267373), as does the Brooklyn Bar Association (tel 7186240843). Both screen their referral panel attorneys for experience, competence, malpractice insurance, etc., and have been approved by the American Bar Association as meeting ABA standards for lawyer referral (see the following link: http://www.abanet.org/legalservices/lris/directory/main.cfm?id=NY)

You can find additional information about bankruptcy topics on the Frequently Asked Questions (FAQs) on our website at www.starrandstarr.com/faqs.htm.

Best regards,