Filing for bankruptcy, especially Chapter 11, doesn’t necessarily mean you’re broke or that your business failing. Sometimes it’s part of a larger strategy to get out of a tight situation. In the case of Sid’s Hardware Store on 345 Jay Street in Metrotech, the business was viable but the lease was too expensive to enable
The Bankruptcy Bill Bankruptcy Song Contest (of which I was one of the sponsors) announced it’s winner in a cute cartoon: “DEBTS IN WRONG PLACES” by Judge Alan S. Trust(United States Bankruptcy Judge, Eastern District of New York) (Bankruptcy Bill Song Contest cartoon image used by Rosenberg Musso & Weiner LLP with the express permission
There’s a great cartoon on the Center for Responsible Lending’s website that points out the silliness of the arguments against the creation of a Consumer Finance Protection Agency (CFPA). The gist of the cartoon is that if Toyota and the auto industry made the same arguments being used by opponents of the CFPA, there would
Just a quick post to let readers know that I will be teaching the “Small Business Bankruptcy“ portion of the March 3 “Consumer and Small Business Bankruptcy 2010“ seminar at the Practicing Law Institute (PLI) in New York City. Here are the topics I’ll be covering: Small Business Bankruptcy Eligibility for filing as a small
Bankruptcy Man (f/k/a BAPCPA Man) remembers his training for fighting the mortgage industry (a/k/a Mortgantua). The cartoon also features a cameo by North Carolina-based foreclosure fighting guru, O. Max Gardner. Note: This cartoon is posted on the NYBankruptcyNet site with the express permission of the creators of Bankruptcy Man. If you’re concerned about foreclosure in
There’s a new study out titled “Risky Business: Financial Firms Face Wave of Fraudulent Transfer Claims“ by Navigant Consulting and The Economist Intelligence Unit. The gist of it is that debtors, trustees and creditors committees are increasingly pursuing “fraudulent transfer” (aka “fraudulent conveyance“) claims (i.e., attempts to recover improper payments) in the wake of the
If you weren’t already cynical about the credit card industry’s practices in the face of the Credit CARD Act of 2009 which went into effect yesterday (Feb 22, 2010), take a look at this very funny and “educational” video by Mark Fiore: [youtube=http://www.youtube.com/watch?v=NCJHi-b0rhw&feature=player_embedded] Click here to read more posts on NYBankruptcyNet about credit cards For
The Credit CARD Act of 2009 goes into effect TODAY, February 22, 2010. What does it mean for New Yorkers like you and me? Will it really help us? Is there anything we have to watch out for? The answers: More protections. Yes, to some extent. And yes, there are things to watch out for.
If you listen to the collections industry, credit card companies have started employing a lighter touch when it comes to debt collection. An article on CollectionsAndCreditRisk.com says that this strategy is an attempt by the credit card industry to mitigate its losses. However, based on everything I hear from my clients, such genteel behavior by
Happy President’s Bankruptcy Day everyone! Did you know that both Thomas Jefferson and Abraham Lincoln dealt with bankruptcy? Not the national debt, but their own personal bankruptcy. Is this something we as Americans should be ashamed of? On the contrary, I think it shows off the strength and resilience of our country and our democratic
no cost, 30 minute consultations in brooklyn, ny or melville, li
26 Court St # 2211
Brooklyn, NY 11242,USA
phone: (718) 855-6840
toll free:(800) 297-6840
fax: (718) 625-1966
68 south service road, suite 100
melville, ny 11747
phone: (631) 454-5248
by appointment only
