Hello all. I am a young bankruptcy attorney in New York and was hoping the community could give me some advice. I have researched the topic of my question ad nauseum but I still need reassurance.
I have a client who has practically no credit card debt or unsecured debt to speak of but for a deficiency judgment against him from a second home he had purchased as an investment. The house went through foreclosure which is fine but the bank entered a deficiency judgment. I guess my question is two fold....
1) In New York can I definitely get rid of the deficiency judgment in a Chapter 7?
2) I have run the numbers and can qualify him for a Chapter 7 but would hate to do it since he has no other debt except for this deficiency judgment....any thoughts?????
Thanks
I have a client who has practically no credit card debt or unsecured debt to speak of but for a deficiency judgment against him from a second home he had purchased as an investment. The house went through foreclosure which is fine but the bank entered a deficiency judgment. I guess my question is two fold....
1) In New York can I definitely get rid of the deficiency judgment in a Chapter 7?
2) I have run the numbers and can qualify him for a Chapter 7 but would hate to do it since he has no other debt except for this deficiency judgment....any thoughts?????
Thanks