New Yorkers in search of debt relief often seek out debt settlement companies. As I’ve mentioned in previous posts, debt settlement companies should really be avoided and are not to be trusted. That said, the Federal Trade Commission (FTC) recently issued new rules intended to protect consumers from debt settlement companies. So in the event …
New FTC Rules on Debt Settlement Companies: What you should know Read More »
Having second thoughts about taking out a student loan for yourself or your offspring? There’s a great piece on Huffington Post by Zac Bissonnette titled, “The Student Loan Disclosure Document That Every Borrower Should Read.” It does a really nice job of making clear all of the risks involved with student loans and pointing out …
If you’re a New York senior citizen thinking about bankruptcy because of credit card debt, you’re likely not alone. Not only have senior citizen bankruptcy filings risen substantially from last year. But the primary cause of those filings appears to be credit card debt, not medical debt, according to research by Law Professor John Pottow …
Senior citizen bankruptcies up, primarily due to credit card debt Read More »
New York foreclosure regulation just got a little stricter. And that’s not a bad thing. A new rule set forth by the New York Courts requires lawyers who assist banks with foreclosures to submit a signed statement attesting that they took reasonable steps to confirm the accuracy of the underlying documents. This essentially shifts some …
New New York Foreclosure Rule: Bank lawyers must take responsibility Read More »
Let’s say your New York bankruptcy case is completed and you’re contemplating your options for credit cards. (Because you know that having a credit card and using it wisely is a good way to help rebuild your credit.) A retail credit card (is likely not your best option. And you’re probably better off with an …
What do debt collectors in Buffalo, NY have to do with you? It turns out that debt collection is one of the thriving industries in Buffalo. And if you get a phone call about debt you owe, it may just be coming from there. The October 11 issue of the New Yorker magazine has a …
With New York foreclosures in the mix of the robo-signing foreclosure controversy, there seems to be alarming rhetoric that seems to shift responsibility away from the banks and towards homeowners. A typical example is the taunting post by Halah Touryalai on Forbes.com titled, “Foreclosure Proble Won’t Get Your House Back,” she notes that “[B]anks are …
New Yorkers facing foreclosure just got an extra bit of breathing room, thanks to Attorney General Andrew Cuomo (who also just happens to be running for governor). Amidst the robo-signing controversy and the announcement by Bank of America, GMAC, JPMorgan Chase and others that they will now delay foreclosures in all 50 states (up from …
New York foreclosure relief gets a boost from Cuomo Read More »
The Wall Street Journal editorial page, defenders of capitalism and rule of law, along with the mortgage industry’s spinmeisters would have you believe that this bank foreclosure fiasco and the robo-signing controversy is just a matter of some paperwork filing errors. What they underestimate (or intentionally misrepresent, depending on who you think they’re working for) …
Bank foreclosure mess: Why it’s not just a paperwork filing error Read More »
More New York bankruptcy on the way? A New York State Comptroller’s report indicates that the income of New Yorkers has fallen by 3.1 percent, the first decline in 70 years for New York residents. The primary cause of the decline is the drop in Wall Street earnings (remember the financial crisis?) and resulting layoffs …
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