Just last week Governor Cuomo went to the national capital asking for $42 billion from the federal government: $32.8 billion to clean up the damage caused by tropical storm Sandy and the remaining $9 billion to help the state prepare for the next disaster. The Huffington Post itemizes the governor’s proposal, and if you do
It didn’t appear very widely in the news, but it appears that the two government-sponsored agencies (GSEs) responsible for mortgages, Fannie Mae and Freddie Mac, have suspended their eviction procedures for people living in foreclosed homes through the New Year. You can read about it here on The Huffington Post. Here are a few things
Brooklyn bankruptcy attorney Bruce Weiner was interviewed last week by NYC Financial Advisor Sara Stanich for her blog “Cultivating Wealth”. The interview covers questions about bankruptcy and divorce, debt negotiation and when to consider filing. Here’s an excerpt from the interview: Sara Stanich: “I work with people going through divorce and debt is often a
Many New Yorkers who are considering filing bankruptcy often ask “What will happen to my jewelry?” It’s a good question because the precious metals we adorn ourselves with are often the third most valuable type of assets people typically have after houses and cars. There also often the first type of assets that people pawn
It’s not uncommon for debt collectors to break the law when trying to recover money from debtors. Usually, their actions run afoul of the Fair Debt Collection Practices Act (FDCPA) or the Telephone Consumer Protection Act (TCPA). Violations of these federal statutes and their New York analogues can result in compensation for you and even
Just over a month after the Obama administration issued an order accelerating a legislative rule change to the Income-Based Repayment (IBR) program that would benefit debtors with federal student loans, a new bill is now in Congress to revise the student loan system yet again. This time the goal is to eliminate the costs the
It might seem like common sense advice to take notes whenever you deal with people over money matters, but with debt collectors it can be even more important because it’s as much a discussion about getting you to pay money as it is about manipulating the communication process to get you to pay. Many of
Aside from a few exceptional circumstances, Chapter 7 and Chapter 13 bankruptcies conclude with the bankruptcy court entering a discharge order, which is just a duplexed document with most of the important info on the back side. Its brevity, however, should not be confused with its power. Reading through the official form version can be
The most-noted change to the student loan rules that went into effect on November 1 of this year was to the Income-Based Repayment option for federal student loans. The changes will undoubtedly benefit many student debtors with lower monthly payments than before. The change to the federal code also touched on another subject: debts owed
One of the more popular laws passed after the housing bust was the Mortgage Forgiveness Debt Relief Act of 2007. Before it was enacted, if a lender canceled or forgave all or a portion of a homeowner’s mortgage, the homeowner would have to pay income tax on the forgiven sum via an IRS Form 1099-C.
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