Re: Increased NY Homestead Exemption: Drop 13, File 7?
Posted by marie ausfeld on 8/09/07

On 6/25/06, Debitum wrote:
> Hi,
> I'm an attorney who doesn't practice bankruptcy law. My
> parents are in chapter 13 bankruptcy. (Don't ask!) They
> live in New York and filed a chapter 13 a few months before
> the new New York "Homestead Exemption Amendment" became
> effective on August 30 2005. The old NY homestead exemption
> was $10,000 per person and the new homestead exemption is
> $50,000 per person. Under the new exemption scheme, my
> parents have no non-exempt assets -- and can safely (I
> believe) file a 7.
>
> The original chapter 13 case was filed approximately a year
> and a half ago. Can my parents voluntarily drop the chapter
> 13 and then IMMEDIATELY file a 7 (without a waiting period)?
> Even if it's legally permissible to drop the 13 and
> immediately file a 7, will my parents likely make the
> bankruptcy judge mad by doing this?
>
> It seems like it would be better to file a completely new
> case, rather than "converting" from a 13 to a 7 -- so that
> the filing date will be after the date of the New York
> homestead exemption Amendment. Also, it will make things
> "less messy" since it will be all new paperwork with no
> carryovers from the original chapter 13 case. Do you agree
> that its better to file a completely new case rather than
> "convert" from a 13 to a 7.
this is an old post and i cant get to where the responses
might be and have same question was there responses or answers
to post? if so how do i access them?

Posts on this thread, including this one

• Increased NY Homestead Exemption: Drop 13, File 7?, 6/25/06, by Debitum.
• Re: Increased NY Homestead Exemption: Drop 13, File 7?, 8/09/07, by marie ausfeld.