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Month: June 2016

What Is a Conduit Mortgage Provision and Is It Worthwhile?

In a typical chapter 13 New York bankruptcy repayment plan, the debtor pays any prepetition mortgage arrearages in the regular plan payments to the trustee in full and any post-petition mortgage payments directly to the lender as though the bankruptcy had not occurred. Two separate payments might be cumbersome to debtors, so the question is …

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Federal Reserve: Health Insurance Can Keep You Out of Bankruptcy

One of the questions raised since Congress passed the Affordable Care Act (ACA) six years ago is whether decreasing uninsured rates would also reduce medical bankruptcy. One mechanism the ACA enacted was a requirement that states expand Medicaid, but the U.S. Supreme struck that down, leaving state governments with the choice of expanding the program …

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Don’t Confuse Your Student-Loan Problems With the Government’s

Much reporting on college education or student loans confuses or misleads audiences. One source that’s been particularly outspoken in the last couple months, The Wall Street Journal, ran a few articles worrying about the large sums of federal student loans going unrepaid, perhaps $200 billion. It’s a serious issue, but it’s important that student-loan debtors …

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Pawned Property Versus Repossessed Property in Bankruptcy

It’s understandable that debtors would pawn property before considering New York bankruptcy. It’s sort of like a securitized payday loan. It’s also common for debtors’ property to be repossessed, which I’ve discussed here. What’s not necessarily intuitive is why after a debtor files bankruptcy the repossessed property is returned but the pawned property is not. …

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How to Find Information About a Bankruptcy Case (Without Talking to Your Lawyer)

Because most New York bankruptcy cases are filed by debtors who are unfamiliar with the process, undoubtedly many want information about their cases’ progress. The same goes for creditors who have been informed of their debtors’ bankruptcies. Good bankruptcy attorneys naturally supply their clients with new developments as they arise, but with the rapid advances …

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Federal Reserve Survey Shows Continued Household Financial Anxiety

Understanding the state of household finances in the U.S. can give debtors a benchmark to compare their circumstances to. The Federal Reserve recently published its “Report on the Economic Well-Being of U.S. Households in 2015,” which is based on the Survey of Household Economics and Decisionmaking (SHED). The SHED is only three years old and …

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