Bankruptcy Archives - Page 65 of 87 - Bankruptcy Attorney in Brooklyn, New York

Streamlined Procedures May Allow Easier Hardship Discharges for Disabled Student Debtors

The most-noted change to the student loan rules that went into effect on November 1 of this year was to the Income-Based Repayment option for federal student loans. The changes will undoubtedly benefit many student debtors with lower monthly payments than before. The change to the federal code also touched on another subject: debts owed …

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Federal Mortgage Forgiveness Debt Relief Act Set to Expire Before 2013

Bankruptcy / By Matt Leichter

One of the more popular laws passed after the housing bust was the Mortgage Forgiveness Debt Relief Act of 2007. Before it was enacted, if a lender canceled or forgave all or a portion of a homeowner’s mortgage, the homeowner would have to pay income tax on the forgiven sum via an IRS Form 1099-C. …

Federal Mortgage Forgiveness Debt Relief Act Set to Expire Before 2013 Read More »

Are There Times When Redemption Loans Are Worthwhile?

Bankruptcy / By Matt Leichter

Many people who file Chapter 7 bankruptcy in New York are car owners. More often than not, by the time they file, the cars are worth less than the remaining balance on the loans they used to finance them. However, because the car secures the loan, it gets a different treatment in Chapter 7. The …

Are There Times When Redemption Loans Are Worthwhile? Read More »

Obama Administration Enacts ‘Pay-As-You-Earn’ Rules for Student Loans

Bankruptcy / By Matt Leichter

The student loan system in the United States is quite complex, and many people who have trouble paying their student loans don’t know whether the loan is guaranteed by or direct from the federal government, or whether the loan is from a private lender. In terms of how it’s handled in bankruptcy, the difference hasn’t …

Obama Administration Enacts ‘Pay-As-You-Earn’ Rules for Student Loans Read More »

What Good Is the Automatic Stay for Renters in New York Bankruptcy?

Bankruptcy / By Matt Leichter

Most of the time when we hear about bankruptcy and the automatic stay, we think of homeowners facing foreclosure. It makes sense given the housing bust a few years ago, and mortgages are often the largest debts New Yorkers have. The automatic stay is clearly designed for their benefit: They can stay in their homes …

What Good Is the Automatic Stay for Renters in New York Bankruptcy? Read More »

New York Chapter 13 Cram-Downs Possible for Investment Properties, Not Necessarily Easy

Bankruptcy / By Matt Leichter

Most bankruptcy debtors choose Chapter 7 because it allows them to quickly discharge their unsecured debts. They can keep their houses and cars through exemptions or reaffirmation agreements, but many people, particularly those with investment properties, want to choose Chapter 13 because it offers them the option to strip liens on underwater second (or greater) …

New York Chapter 13 Cram-Downs Possible for Investment Properties, Not Necessarily Easy Read More »

What Happens after a Chapter 13 New York Repayment Plan Is Confirmed?

Bankruptcy / By Matt Leichter

For those who choose to file in Chapter 13, getting the repayment plan confirmed is usually a big event because it starts the clock on their three- to five-year repayment plans. The question they often ask is, “What happens next?” There are a few things, large and small. One, the debtors choose the payment system, …

What Happens after a Chapter 13 New York Repayment Plan Is Confirmed? Read More »

Education Department’s ‘Gainful Employment Rule’ Unlikely to Hinder For-Profit Schools

Leave a Comment / Bankruptcy / By Matt Leichter

One of the biggest offenders stoking the student debt problem is for-profit higher education institutions. They’re roundly criticized for taking their students’ government debt dollars to sell them degrees they know that they can’t use, will be unable to complete, or will default on. They engage in reckless, hard-sell enrollment practices. For instance until recently …

Education Department’s ‘Gainful Employment Rule’ Unlikely to Hinder For-Profit Schools Read More »

Medical Identity Theft Can Throw You into New York Bankruptcy

Leave a Comment / Bankruptcy / By Matt Leichter

Identity theft is one of those crimes that can happen to New Yorkers without warning and can take months to years to resolve at great expense. Worse, there’s little one can do to prevent it, aside from keeping private information secure. As if this weren’t bad enough in itself, people are reporting a new ripple …

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New York Bankruptcy Can Help the Elderly Too

Leave a Comment / Bankruptcy / By Matt Leichter

Elderly New Yorkers are typically not debtors. They often have no income aside from Social Security, pensions, and other savings, so if they do have mortgages or other debts, they’re usually being paid down. For the most part, people who file bankruptcy tend to be younger and do so because they’ve lost a job, suffered …

New York Bankruptcy Can Help the Elderly Too Read More »

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Streamlined Procedures May Allow Easier Hardship Discharges for Disabled Student Debtors

Federal Mortgage Forgiveness Debt Relief Act Set to Expire Before 2013

Are There Times When Redemption Loans Are Worthwhile?

Obama Administration Enacts ‘Pay-As-You-Earn’ Rules for Student Loans

What Good Is the Automatic Stay for Renters in New York Bankruptcy?

New York Chapter 13 Cram-Downs Possible for Investment Properties, Not Necessarily Easy

What Happens after a Chapter 13 New York Repayment Plan Is Confirmed?

Education Department’s ‘Gainful Employment Rule’ Unlikely to Hinder For-Profit Schools

Medical Identity Theft Can Throw You into New York Bankruptcy

New York Bankruptcy Can Help the Elderly Too

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