Blog | Rosenberg, Musso & Weiner, LLP

When the Social Security Administration Is a Creditor in Your New York Bankruptcy…

It doesn’t happen often, but when it does people don’t complain: sometimes, Social Security overpays recipients. How can this happen? Here’s a possible scenario: A person files for disability payments from the Social Security Administration (SSA). The payments come in, and the person, now the recipient, deposits them. The recipient’s health improves allowing him or

September 16, 2011 No Comments

Bankruptcy: A Partial Solution to the New York Underwater Mortgage

The eight trillion dollar housing bubble burst, and many people took out mortgages for far greater than the actual value of their homes. The collapsing prices for housing wiped out the equity, including down payments, of many people’s homes. The result is the stagnant economy we now have. Unfortunately, many of the homeowners in these

September 12, 2011 No Comments

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September 9, 2011 No Comments

The 2010 Health Care and Education Reconciliation Act Makes Things Better for Student Borrowers in New York

Many New Yorker debtors are stuck with large amounts of nondischargeable student loan debt. Fortunately, the health care law Congress passed in 2010 also eases the burden on student debtors. The Department of Education explains some of the changes. Here’s a summary. Most dramatically, the law terminates the old FFELP (Federal Family Education Loan Program) that’s

September 9, 2011 No Comments

How Banks in New York Evade the CARD Act

The target market for credit cards in New York and elsewhere is college students. They rarely make enough money from their part time jobs (if they have them) to spend money on the things they need or want: books, supplies, computer hardware, and everything else needed for a collegiate lifestyle. In the past, banks shamelessly

September 8, 2011 No Comments

How Gifts and Loans Work in Chapter 7 Bankruptcy in New York

New Yorkers filing bankruptcy often choose Chapter 7 given its speed and effectiveness at discharging unsecured debt, especially credit card debt. Although Chapter 7 can be quite beneficial, not everyone is allowed to use it. Before Congress passed the Bankruptcy Abuse Prevention Consumer Protection Act of 2005, anyone could use Chapter 7 regardless of their

September 6, 2011 No Comments

Even Illegal Aliens Can File Bankruptcy in the New York

Recently, we discussed whether non-citizens could file bankruptcy in U.S. bankruptcy courts. The answer was clearly in the affirmative. Title 11 Section 109(a) of the bankruptcy code doesn’t distinguish between citizens and non-citizens. This way residents and people who own property anywhere in the U.S. can use the federal bankruptcy system. But what if you’re

September 2, 2011 No Comments

How Can Banks Take Away Your New York Car over Credit Card Debt?

Lately there’s been some talk that unsecured creditors—primarily of credit card debt—are more aggressively enforcing their claims. And to the trained ear of an experienced New York bankruptcy attorney, the word “aggressive” used in connection with creditor actions can often signal the word “illegal.” One trick we’ve been hearing about is taking people’s cars and

September 1, 2011 No Comments

Assigning Dollar Values to Your New York Small Business in Bankruptcy

When people file bankruptcy in New York, they have to list their assets and debts on their petition. These are usually fairly straightforward: houses, cars, and other personal property. The value of these items is easy to calculate. However, many petitioners operate their own businesses, and the process of valuing them is not so obvious.

August 12, 2011 No Comments

Is a Personal Injury Judgment in New York Dischargeable in Bankruptcy?

Recently, we discussed protecting personal injury settlements in bankruptcy. Those who receive money in a civil action list it as an asset, something one wants to protect in bankruptcy via an exemption. Today, we’re discussing the opposite situation: personal injury judgments in New York bankruptcy. If you have a judgment against you, the bankruptcy code

August 11, 2011 No Comments

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Archive

When the Social Security Administration Is a Creditor in Your New York Bankruptcy…

Bankruptcy: A Partial Solution to the New York Underwater Mortgage

…

The 2010 Health Care and Education Reconciliation Act Makes Things Better for Student Borrowers in New York

How Banks in New York Evade the CARD Act

How Gifts and Loans Work in Chapter 7 Bankruptcy in New York

Even Illegal Aliens Can File Bankruptcy in the New York

How Can Banks Take Away Your New York Car over Credit Card Debt?

Assigning Dollar Values to Your New York Small Business in Bankruptcy

Is a Personal Injury Judgment in New York Dischargeable in Bankruptcy?

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