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In addition, the Supreme Court addressed the issue of whether retroactive application of the particular New York bankruptcy law in question was a "law impairing the Obligation of Contracts", in violation of Article I, Section 10 of the U.S. Constitution. This law covered debts contracted before the law was passed.
The disadvantage of filing for personal bankruptcy is that, under the Fair Credit Reporting Act, a record of this stays on the individual's credit report for up to 7 years (up to 10 years for Chapter 7); [5] still, it is possible to obtain new debt or credit (cards, auto, or consumer loans) after only 12–24 months, and a new FHA mortgage loan just 25 months after discharge, and Fannie Mae ...
The New York State Department of Taxation and Finance (NYSDTF) is the department of the New York state government [1] responsible for taxation and revenue, including handling all tax forms and publications, and dispersing tax revenue to other agencies and counties within New York State. The department also has a law enforcement division, the ...
However, a standard guideline is that $10,000 or more in debt is enough to consider filing. This is because filing for bankruptcy costs money, and if you have a smaller debt, it may not be worth ...
The filing lists Giuliani's assets as being between $1 million and $10 million and puts his current total debt at $151 million, including close to $1 million owed in back taxes. It also noted that ...
The last instance of such a default took place during the Great Depression, in 1933, when the state of Arkansas defaulted on its highway bonds, which had long-lasting consequences for the state. [1] Current U.S. bankruptcy law, an area governed by federal law, does not allow a state to file for bankruptcy under the Bankruptcy Code. [2]
The following is a list of the bankruptcy judges, as of May 2023, for the United States Bankruptcy Court for the Southern District of New York. [4]As with all federal bankruptcy judges in the US, judges are appointed by the circuit's court of appeals — in this case, the United States Court of Appeals for the Second Circuit.
The Post uncovered several potential legal and ethical violations, such as alleged self-dealing and possible tax evasion. [158] The New York State attorney general is investigating the foundation "to make sure it is complying with the laws governing charities in New York." [159] [160] A Trump spokesman called the investigation a "partisan hit ...
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