Chapter 7 New York bankruptcy is often offered as an option for stopping a foreclosure. However, debtors should ask why it’s worth the trouble if they think they will lose their homes anyway. It’s a fair point: Debtors who are behind on their mortgages might not keep their homes in chapter 7. Ultimately, the answer …
Why File Chapter 7 to Delay an Inevitable Foreclosure? Read More »
The Internal Revenue Service brings both good news and bad news: Identity theft via individual tax returns is falling, but business-related tax-return identity theft is on the rise. Identity theft is often catastrophic for individuals because the thieves can use personal financial information to ruin them. More insidious than conventional identity theft, Medical identity theft …
IRS: Identity Theft Falling, Business-Related Identity Theft Rising Read More »
There’s quite a bit of research on the effects of debt on mental health, and there’s some interesting research on how filing bankruptcy can help remedy debt-related health problems. This literature, however, focuses on the stress debtors face due to debt itself rather than on debtors who have serious mental health problems and who also …
The connection between bankruptcy and health insurance is well documented. For example, research by the Federal Reserve found that health insurance can keep people out of bankruptcy, and the Affordable Care Act reduced medical bankruptcies by half. Naturally debtors may ask what happens to their health-insurance plans in New York bankruptcy. The short answer is …
What Happens to Health-Insurance Policies in Bankruptcy? Read More »
Sometimes people will refer to bankruptcy as a shield and the Fair Debt Collection Practices Act (FDCPA) as a sword, or vice versa. It’s contradictory, but the point is that both laws are designed to protect debtors in different contexts that hopefully don’t overlap. Bankruptcy allows debtors to get rid of debts without punishing overbearing …
Remedies for FDCPA Violations Versus Discharge Injunction Violations Read More »
A long time ago, I discussed the requirements in New York for a successful deed-in-lieu of foreclosure agreement, also called a mortgage release. The benefits of such an agreement are that the lender is able to resell the property and the borrower is no longer obligated to pay on an ultimately unaffordable mortgage. The question, …
Is Renting Your Underwater Home From the Bank a Good Idea? Read More »
Private student loans do not often make the news, primarily because the vast majority of student loans are made by or guaranteed by the federal government, and comparatively few people take them out these days. Currently only $108 billion out of the $1.34 trillion in student loans are originated by private lenders with no connection …
NYT: ‘Robo-Signing’ Strikes Private-Student-Loan Debtors Read More »
Around 2012, bankruptcy lawyers began reporting a strange trend: their clients’ bankruptcies were hijacked by third parties, causing significant problems for the debtors’ cases. The fad didn’t reach the East Coast to a significant degree, but New York bankruptcy hijacking is possible. Debtors, especially those who’ve gone without lawyers, should learn what the signs are …
Bankruptcy Hijacking: A Scam on the Unwary Debtor Read More »
What factors influence the likelihood of filing New York bankruptcy? That’s not exactly the question the Federal Reserve Bank of Minneapolis, Minn., asked in its research on “income risk,” but it addresses the question in some ways. Economists often write about “income inequality,” but that’s just the distribution of income at any given time. Income …
Minneapolis Fed: ‘Income Risk’ High for Older, Lower-Income Workers Read More »
Tax debts can bedevil debtors. They are not easily discharged in a chapter 7 New York bankruptcy, and they are priority claims that must be paid in full without interest in chapter 13. Unsurprisingly, the IRS’s collection efforts will cause more anxiety to debtors than mere credit-card-debt collectors. However, a recent New York Times article …
Talk to a Bankruptcy Lawyer Before Negotiating With an IRS Debt Collector Read More »
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
