Most of the time when we hear about bankruptcy and the automatic stay, we think of homeowners facing foreclosure. It makes sense given the housing bust a few years ago, and mortgages are often the largest debts New Yorkers have. The automatic stay is clearly designed for their benefit: They can stay in their homes …
What Good Is the Automatic Stay for Renters in New York Bankruptcy? Read More »
Most bankruptcy debtors choose Chapter 7 because it allows them to quickly discharge their unsecured debts. They can keep their houses and cars through exemptions or reaffirmation agreements, but many people, particularly those with investment properties, want to choose Chapter 13 because it offers them the option to strip liens on underwater second (or greater) …
New York Chapter 13 Cram-Downs Possible for Investment Properties, Not Necessarily Easy Read More »
For those who choose to file in Chapter 13, getting the repayment plan confirmed is usually a big event because it starts the clock on their three- to five-year repayment plans. The question they often ask is, “What happens next?” There are a few things, large and small. One, the debtors choose the payment system, …
What Happens after a Chapter 13 New York Repayment Plan Is Confirmed? Read More »
Brooklyn, NY Bankruptcy Attorney and RMW Partner Bruce Weiner was quoted in an article about the recent bankruptcy fraud allegations that Toni Braxton gave her estranged husband over $50,000 to avoid paying creditors. Bruce commented that bankruptcy is an option when “the amount of credit card debt is approaching annual income; you have had a …
One of the biggest offenders stoking the student debt problem is for-profit higher education institutions. They’re roundly criticized for taking their students’ government debt dollars to sell them degrees they know that they can’t use, will be unable to complete, or will default on. They engage in reckless, hard-sell enrollment practices. For instance until recently …
Education Department’s ‘Gainful Employment Rule’ Unlikely to Hinder For-Profit Schools Read More »
Identity theft is one of those crimes that can happen to New Yorkers without warning and can take months to years to resolve at great expense. Worse, there’s little one can do to prevent it, aside from keeping private information secure. As if this weren’t bad enough in itself, people are reporting a new ripple …
Medical Identity Theft Can Throw You into New York Bankruptcy Read More »
Elderly New Yorkers are typically not debtors. They often have no income aside from Social Security, pensions, and other savings, so if they do have mortgages or other debts, they’re usually being paid down. For the most part, people who file bankruptcy tend to be younger and do so because they’ve lost a job, suffered …
Filing bankruptcy in New York is a decision that shouldn’t be made lightly. That’s common sense. Problems can arise though, particularly when debtors make mistakes in their petitions that might result in them losing otherwise exempt property to the Trustee to be resold to creditors. The question then becomes, can debtors withdraw their bankruptcy petitions …
When Is It Possible to Withdraw and Refile in New York Bankruptcy? Read More »
New York only recently allowed same-sex couples to marry, but that doesn’t mean they receive equal treatment under federal law. This distinction appears acutely in situations surrounding the federal tax code, Social Security survivor benefits, and bankruptcy. The cause is the Defense of Marriage Act (DOMA), passed in 1996, which defined the term, “marriage,” as …
A few months ago, the New York Times ran a piece on “mass joinder foreclosure lawsuits.” This is a type of scam that is designed to ensnare underwater homeowners and rob them of what little they have left. What is this? A mass joinder lawsuit is a type of class action lawsuit. In the foreclosure …
How New Yorkers can Avoid a Mass Joinder Foreclosure Lawsuit Scam Read More »
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