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cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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cfortunato sorry about not being clear.I am discussing only

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cfortunato sorry about not being clear.I am discussing only the past 90 days. my only creditors are credit cards. their minimum monthly charges are based on the debt they are holding, so it has to be fair. trustee will want to see? just attach payment and charge sheets?
Submitted: 5 years ago.
Category: Bankruptcy Law
Expert:  cfortunato replied 5 years ago.
You don't have to attach any statements or proofs of payments upon initially filing your Bankruptcy. If the trustee wants anything additional, he or she will let you know. If all creditors were paid in proportion to the total debt owed to each - or close to it - the trustee will not reverse the payments.
Customer: replied 5 years ago.
this is just the kind of answer I'm looking for.I might wear you out the next couple of days. i am interested in being honest about the numbers, but don't want to clomplicate the situation. I am sole owner and president of a corporation that has basically broken even until this year. I'm reading a solid how-to book as I go along, but I'd like to have your perspective about waiting for trustee to ask for detailed documents, especially tax documents. I've filed accurately every year personally and corporately, but have never been audited. I think everything is ok. At this point it seems the personal for this year at least needs to go in. SOFA asking for furniture, etc whats the ballpark exemption numbers for contents and cash. And did I ask you about chase freezing my checking accts because they hold 2 of my cards. is that even a possibility.?
Expert:  cfortunato replied 5 years ago.

Although the Bankruptcy Code requires submitting the last income tax return, it is the custom of many Bankrutpcy trustees to ask for tax returns for the 2 years before filing. But again, these do not have to be submitted until after you file.

Here are the NY state Bankrutpcy exemptions:

Here are the federal exemptions:

A NY state Bankruptcy filer can choose either set of exemptions, but must stick with the set that is chosen - you cannot choose some from one and some from another.

In general, if the is no home to protect, the federal statutes provide more protection (dollarwise).

In NY it is against the law for any creditor to freeze any bank account that has less than $1760 in it. So to be safe, it is a good idea to make sure there are no accounts with more than that amount.

cfortunato and other Bankruptcy Law Specialists are ready to help you
Customer: replied 5 years ago.
hi again a complicated side issue. last week i arranged to sell 18 years of accumulated my amex membership reward points to an online outfit who would broker them for airline tickets. They mailed be a check for 3200. I deposited it and when it cleared, paid my rent and bills with it. When they walked me thru the transfer, they found that amex blue membership points can't be transferred. They want their money back. I offered to purchase Ipads with points resell on ebay, and return proceeds, 1000-1500. They are asking me for user ID and password XXXXX access my account and see if they can use the points some other way. i plan to file for bankruptcy monday. My question is: should i claim these people as a creditor to protect myself from a trustee questioning purchase and resale on ebay, or any other legal action these people might take. this is urgent today. I hope you are available.
Expert:  cfortunato replied 5 years ago.
Yes - you should include this company to protect yourself from the company also, so that any possible liability to them can be discharged.
Customer: replied 5 years ago.
schedule F also?
Expert:  cfortunato replied 5 years ago.
Yes - this claim would result in an Unsecured Nonpriority debt.
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