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Year: 2009

Can my employer fire me for filing for bankruptcy?

Can my employer fire me for filing for bankruptcy?  Can my employer fire me based on my race? No and no.  You can’t be fired based on your race.  And you can’t be fired just because you’ve filed for bankruptcy.  The bankruptcy laws specifically prohibit firing an employee because of a bankruptcy filing. Many people …

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Bankruptcy Haiku and Mortgage Cramdown

What does Congress’ failure to pass the mortgage cramdown legislation have in common with the Honeymooners?  They’re both in the latest bankruptcy haiku from Bankruptcy Bill. Reprinted with permission from the creators of Bankruptcy Bill: Why did Congress dis Honeymooners and not pass Mortgage Kramden Bill? (Click here for more bankruptcy haiku from Bankruptcy Bill.) …

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Brooklyn Bankruptcy Update 12-22-09

Time to take a look at recent bankruptcy news in Brooklyn. Brooklyn Money Manager Indicted in 30-Year Ponzi Scheme (Wall Street Journal Online) – Bay Ridge, Brooklyn-based money manager Philip Barry–aka the “Brooklyn Madoff”–was charged with securities fraud and 20 counts of mail fraud earlier this week. Star of Real Estate Boom is Confronting Hard …

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Mortgage Cramdown Fail: BAPCPA Man vs Mortgantua – Part 5

How is BAPCPA Man doing in his battle against Mortgantua to save American homeowners?  Not so well, thanks to Congress Man and Subprimulus. Note: This cartoon is posted on the NYBankruptcyNet site with the express permission of the creators of BAPCPA Man. Are you worried about foreclosure in New York?  If you’re struggling with mortgage …

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No Mortgage Cramdown Bill for Christmas

It would have been in the spirit of Christmas to pass the Mortgage Cramdown amendment.  But apparently Congress is a bigger fan of The Grinch. After the “Mortgage Cramdown” legislation was re-introduced by Barney Frank (D-MA), the House of Representatives rejected it by a vote of 188-241. Just in time for the holidays. Mortgage cramdown …

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Will “mortgage cram down” help New Yorkers?

The “mortgage cram down” issue is back in the news this week.  Congress is discussing an amendment that would give bankruptcy judges the power to “cram down” or change the basic terms of a mortgage. (See the latest BAPCPA Man vs. Mortgantua cartoon for a good picture of what mortgage cram down looks like.) If …

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BAPCPA Man vs Mortgantua #4 – Mortgage Cramdown!

The BAPCPA Man vs. Mortgantua battle rages on.  How will BAPCPA Man get out of this jam? Note: This cartoon is posted on the NYBankruptcyNet site with the express permission of the creators of BAPCPA Man. If you’re facing foreclosure in New York, if you’re struggling with mortgage and other financial problems, if you need …

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“Healthcare” approach to banking may help reduce bankruptcy filings in the future

There is often talk about how to reduce bankruptcy filings. The credit industry’s oh-so-caring approach was to make it harder to file for bankruptcy by adding various speed bumps and obstacles to the 2005 Bankruptcy Law (aka BAPCPA).  That was a very reactionary, not to mention sloppy, approach that was really intended to serve the …

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