Peter R. Scribner, Esq. ATTORNEY AT LAW
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Q&A - new New York Exemptions

If you would like to discuss publically the new exemption update law in New York State, going into effect January 21, leave a comment below. I will answer the comments to the best of my knowledge, and other readers may leave answering comments as well.

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The Erie County Bar did a program on the exemptions today, and some interesting questions came out of it. Among them:

* There are separate $4,000 motor vehicle exemptions in CPLR 5205 and DCL 282, the former applicable in and out of bankruptcy, the latter limited to bankruptcy filings. Does this constitute a double exemption?

* When federal exemptions are claimed and a debtor's home has little or no equity but judgment(s) docketed against it, will it become a common practice to claim a $1 homestead exemption, using the remainder of the "unused" exemption as the enhanced federal wildcard, in order for the judgment(s) to be voided under 522(f)?

* Also in the new federal scheme, while the overall exemption for household goods is nice, does its $550 "per item" limit suggest that case trustees will be looking for greater itemization, particularly in cases where the wildcard is either limited or being used to shield other assets?

Thanks again for all your work in reporting and advocating here.

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Peter R. Scribner, Esq.
1110 Park Avenue
Rochester, New York 14610

Phone: 585-800-9616
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