Foreclosure rescue scams are one of the notable side effects of the ongoing foreclosure crisis in New York and across the U.S.. Companies seem to spring up everywhere offering to assist you with your foreclosure problems and promising you that if you work with them you can avoid foreclosure. By and large, these are not
You filed for bankruptcy in New York. You succeeded in getting a discharge. You’re in the clear. What happens next? If you’re not careful, you can end up right back in the situation that led to bankruptcy in the first place. Except that the law prohibits you from filing for bankruptcy again for another 8
In the bankruptcy world, there are a lot of terms with the word “debt” in it that tend to blur together for the average non-lawyer, such as: Debt relief agency Debt relief Debt settlement Debt consolidation While numbers 2, 3 and 4 are frequently heard in shady TV ads hawking services that sound too good
A quarterly report from PropertyShark.com shows that overall the foreclosure rate for New York City dropped by 32% between the 4th quarter 2009 and the 4th quarter 2010 and fell by 26% between the 3rd quarter of 2010 and the 4th quarter of 2010. Notably, foreclosures in Queens accounted for 49% of all New York
Bankruptcy and debt problems in New York and elsewhere affect not only average civilians but are also a particularly big problem for military personnel and their families. And now Elizabeth Warren, tasked with setting up the new Consumer Financial Protection Bureau (CFPB), is trying to do something about it. She recently invited Holly Petraeus (wife
As of January 22, if you file for bankruptcy in New York you will have the benefit of higher NY bankruptcy exemptions, thanks to a new bill signed into law by Governor David Patterson just before the New Year. What are some of the improvements? Home equity allowance increased from $50,000 to as high as
As 2010 reaches its end, it’s worth taking a quick look at the current state of bankruptcy. Specifically, two trends in particular. Trend #1: Business bankruptcies are decreasing. Trend #2: Consumer bankruptcies continue to increase. This is according to an article in the Daily Finance that notes that business bankruptcies have declined for the 5th
CreditSlips.org is always a great source of info and analysis of bankruptcy issues and news, especially those affecting average New Yorkers and other Americans. It’s run collaboratively by the leading bankruptcy professors on consumer bankruptcy issues from several different universities around the country. Though some of the CreditSlips.org posts may be a bit on the
I came across these Japanese mortgage refinance TV ads and thought they were worth sharing. They don’t provide much in the way of educational value. But they are entertaining and they do remind us that people in other countries also have mortgages and deal with the same kinds of problems. That said, it’s also a
Elizabeth Warren’s role as head of the Consumer Financial Protection Agency is shaping up to be the focus of a political battle. But it really shouldn’t be. If there was ever someone in D.C. who was actually looking out for the interests of the American people and the U.S. economy, and who actually had the
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