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Foreclosure mediation and other new ways to encourage loan modification

As New Yorkers and the rest of America brace for more foreclosures, the loan modification option has not helped as much as hoped.  As a result, a number of states have been implementing foreclosure mediation programs and other alternative dispute resolution options aimed at nudging more mortgage banks to the negotiating table. The Center for

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Bankruptcy Myths on New York’s CBS News

If you’re considering filing for bankruptcy lawyer Brooklyn NY, this news report by New York’s CBS News is worth a quick watch. Though interestingly, towards the end of the report reporter Kirstin Cole rightfully point out to be wary of debt settlement companies.  However, at the very end the anchor seemingly contradicts Cole by instructing

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Preference lawsuits: How to defend yourself

In a previous post I explained to all the New Yorkers out there what a preference lawsuit is and why you should care. While reading it may have helped make you feel smart at cocktail parties, in the back of your mind you were probably also wondering, “So what exactly should I do if I’m

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What is a preference payment? And why should you care?

Let’s say someone owes you money.  You know they’re having financial difficulties, so you go to them and try to get them to pay it back to you before they file for bankruptcy.  You have a good relationship with them and they’re kind enough to make sure you get paid back. Three weeks later, the

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Debt settlement company files for bankruptcy!?

In the Irony Department, today a debt settlement company called Debt Relief USA filed for bankruptcy, according to an article in the Dallas Morning Herald.  And the further irony is that many of the debtors who turned to Debt Relief USA for help are now creditors, while Debt Relief USA is the debtor! This, of

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Understanding your credit score in the new economy

A recent Washington Post article on credit scores (“Credit Score Shell Game“) is very illuminating.  It’s one more example of how the world of credit cards is getting less warm and fuzzy and how struggling Americans can get scammed in the process. The gist of it is that: Credit scores are becoming more important as

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What you should know about the trustee in bankruptcy

When the topic of bankruptcy in New York comes up, you hear a lot about things like Chapter 7, Chapter 13, the “means test,” financial statements and a bunch of other important terms. But what do you know about the trustee and his or her role in a bankruptcy case? It’s important to understand what

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Love in the Time of Foreclosure

If Gabriel Garcia Marquez had struggled with his mortgage, he might have written Love in the Time of Foreclosure (http://loveinthetimeofforeclosure.blogspot.com). Instead, it’s a blog being currently written by a young woman in California describing the process of going through a foreclosure and her efforts to stay positive and keep perspective on everything. On the topic

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Bankruptcy Bill – the cartoon

Bankruptcy is generally associated with difficulties and hardship.  However, a cartoon called Bankruptcy Bill (http://bankruptcybill.us) has apparently found the lighter side of the bankruptcy world.  The content is aimed more at big firm law practice, making some of the jokes difficult to get.  But others will give you a chuckle.  (Poetry fans may appreciate the

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Introduction to Consumer Bankruptcy

I wanted to share that I’ll be teaching a continuing legal education course on June 23, 2009 entitled “Introduction to Consumer Bankruptcy” sponsored by the Brooklyn Bar Association Volunteer Lawyers Project. The course is for attorneys who are new to consumer bankruptcy practice, and it is intended to address the growing need by low-income clients

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